Rabobank profit lower, food & agri credit is growing

Rabobank posted a lower net profit in 2022, €2,8 billion compared to €3,7 billion in 2021, when profit was exceptionally high. The bank is not dissatisfied with the result, given the economic disruptions caused by the war in Ukraine - such as high energy prices and inflation - and speaks of a strong performance. Partly due to the higher interest rate, interest income increased by 10%.

Rabobank's global food & agri portfolio increased by 2022% to €10 billion in 113,3. The share of this portfolio is 26% of the outstanding loans. In the Netherlands, the sector was 2022% more outstanding in 12: €40,4 billion compared to €35,7 billion. Since last year, one-man businesses are no longer included in this report, which means that farmers (and other entrepreneurs) are also excluded.

Stefan Decraene, the new CEO of Rabobank, says in a press release: "For us as a global food and agri bank, the transition to climate-smart agriculture is a crucial part of a resilient food system. Of course, this also applies to the Dutch agricultural sector, where we play our role tackling the nitrogen problem."

Read more later today Boerenbusiness about Rabobank's annual figures. 

Linda van Eekeres

Linda van Eekeres is co-writing editor-in-chief. She mainly focuses on macro-economic developments and the influence of politics on the agricultural sector.

l.vaneekeres@boerenbusiness. Nl

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