News Annual figures Rabobank
New calculation makes credit farmers invisible
The credit that Rabobank has outstanding in the food and agri sector grew by 2021% in 8 to 102,9 billion. Sole proprietorships will no longer be included in the agricultural loan portfolio this year, so that it is no longer possible to see exactly how much financing is outstanding with farmers and horticulturists. Last year it was €40,3 billion. Without sole traders, that would have been €32,8 billion last year, according to Rabobank. This year, €35,7 billion is reported.
The number of loans from Rabobank to Dutch farmers remained about the same a year earlier. In the previous years there was also a contraction. The market share within the Dutch food and agri sector is still approximately 85%. The growth in wholesale (food) and rural has continued, said Rabobank CEO Wiebe Draijer this morning (February 10) during a press conference. "Despite that - and that's a minor contradiction - farmers are more likely to pay off debt when commodity prices go up."
Rabobank has recorded a net profit of €2021 billion for 3,7. Exceptionally high for Rabobank, says CFO Bas Brouwers. The bank attributes the high profit to improved market conditions and good performance in several business units. In 2020 - when the results were heavily impacted by the corona pandemic - profits were €1,1 billion.
Carbon footprint mapped with first estimate
Rabobank also has a impact reports brought outside. Rabobank is the first in the Netherlands and one of the first in the world to estimate the actual emissions of its loan portfolio on the way to the Paris climate goals, says Draijer. "Step one is what those emissions are approximately. In the agricultural sector, for example, there are no standards at all yet." Nevertheless, Rabobank has made a first step in mapping out the emissions of outstanding loans in the Dutch food and agribusiness: 11,2 megatonnes of CO2e. At the request of Boerenbusiness How that was calculated, Draijer replies that an international network is used to work with the models that do exist, based on factors such as the number of cows and the area of arable land. "We have to deal with that. We hope it is a first step in adopting standards that are accepted by all banks." Draijer hopes that mapping emissions in this way can provide an incentive at farm level, which he believes is a better mechanism than introducing standards. Rabobank will publish its 'plan for Paris' later this year.
Help with sustainability
Rabobank wants to help agricultural customers to become more sustainable. Draijer: "The most important thing is to look in regions where there is space. And with entrepreneurs who are thinking about quitting, to facilitate that transition." He points to the money that the cabinet has reserved for the purchase and depreciation of land." Draijer also mentions that experiments are underway at the bank with interest discounts for farmers who are leading the way or who want to become more sustainable or who want to invest in more biodiversity.
250 million extra against money laundering
Rabobank recently received a designation from De Nederlandsche Bank because it is not yet doing enough to prevent money laundering and terrorist financing. The bank is now allocating an extra 250 million for this. There will also be a special director and more employees will be recruited, on top of the almost 5.000 who are already involved in this.
Linda van Eekeres
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