Rabobank's profits plummet due to Cofid-19 crisis
4 years, 4 months ago

Rabobank's profits plummet due to Cofid-19 crisis

NL Times  

Rabobank saw its profits largely evaporate in the first two quarters of 2020. The bank attributes this mainly to the coronavirus crisis, and money it had to set aside to cover bad loans from customers in financial trouble, according to figures Rabobank released on Thursday. Rabobank pushed another 1 billion euros into its rainy day fund - money set aside to cope with disappointing results and bad loans. And as a result, the bank's profits for the first half of the year amounted to 227 million euros, compared o 1.21 billion euros in the first half of 2019. Rabobank's turnover in the first half of 2020 amounted to 5.2 billion euros, 8 percent less than the 5.7 billion euros in the same period last year.

Billion Euros Crisis Rabobank  set  crisis  rabobank  period  billion  euros  half  rabobanks  banks  results  plummet  2020  profits  cofid19

History of this topic

Rabobank management allegedly knew about money laundering for years
2 years, 6 months ago

Rabobank management allegedly knew about money laundering for years

NL Times  

Rabobank has allegedly been aware for the past eight years that its approach to money laundering was inadequate. An internal audit in 2014 failed most of the bank's local offices for poorly screening money laundering risks, years before the bank came clean publicly, NRC reports. Although the bank announced in early 2019 that it had been fined by Dutch central …

Rabobank allocates extra money to improve anti-money laundering policy
2 years, 10 months ago

Rabobank allocates extra money to improve anti-money laundering policy

NL Times  

Rabobank is allocating an additional 249 million euros to improve its anti-money laundering policy, in an effort to comply with instructions from De Nederlandsche Bank. "We have already made many improvements, but there is still a lot of work to be done," says CEO Wiebe Draijer. Rabobank subsequently announced in November that DNB would start an enforcement process because of …

230,000 jobs, 5,300 businesses saved by gov't Covid support: Rabobank
3 years, 5 months ago

230,000 jobs, 5,300 businesses saved by gov't Covid support: Rabobank

NL Times  

A massive 230 thousand job losses and 5,300 bankruptcies were prevented during the coronavirus pandemic, Rabobank calculated. "Economists assume certain laws," Hugo Erken of Rabobank said. These support measures had a hefty price tag, with the State paying out some 20 billion euros in advances through the NOW regulation alone. "Then confidence would have been hit people would have started …

Rabobank to hit more customers with negative interest
4 years, 2 months ago

Rabobank to hit more customers with negative interest

NL Times  

Rabobank customers with more than 250 thousand euros in their current, savings and investor accounts will be charged an interest rate of -0.5 percent from 1 January 2021. This applies to both private and business customers, and the negative interest will apply to all credit above 250,000 euros, the bank announced on Wednesday, NU.nl reports. Customers who have less than …

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