The Rabobank Story by lindash

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									The Rabobank Story
From 19th Century Rural Cooperative to 21st Century Global Leader
Rabobank was originally founded over
110 years ago as a rural credit cooperative by
Dutch farmers who sought to provide their
rural communities with access to fair and
reliable sources of credit, and to help build
and support each other’s businesses.
Today, Rabobank is a global financial services leader and one of the
world’s 25 largest financial institutions based on Tier 1 Capital, with over
AUD1,000 billion in assets and operations in 46 countries.
From our agricultural roots to our current position as a premier lender to
the world’s food and agriculture industry, Rabobank remains true to our
core mission: creating value for our customers, our employees and the
communities in which we do business.
We would like to share with you the history of Rabobank’s origins, provide
an overview of our commitment to creating customer value and introduce
you to our businesses, products and services throughout Australia
and New Zealand.

                                                                 The Rabobank Story   |   3
Rabobank: history and growth
In the mid-1800s, Friedrich Wilhelm Raiffeisen, mayor of Flammersfeld, a small German town, recognised
that the financial needs of rural farmers were not being met by the larger, urban financial institutions of
that time. He devised a system in which the savings of rural farmers were collected in order to provide
a sound financial base for credit, establishing the first cooperative bank. For its time this was a new
approach to banking, combining idealistic principles within a business framework.

In 1896 Raiffeisen’s banking concept migrated to the Netherlands. Soon, farmers’ cooperative banks
were being established all over the country, operating according to Raiffeisen’s principles of collecting
savings from rural citizens to establish a fund to provide loans at reasonable interest rates – a bank both
“of the customer” and “for the customer”. The local cooperatives grew and organised joint associations
to help them better mitigate their individual financial risks.

In 1898 two central organisations were established:
  The Cooperative Association of Raiffeisen Banks, headquartered in Utrecht, was comprised of
  member banks in the northern region of the country.
  The Cooperative Central Farmers’ Credit Bank or Boerenleenbank, with headquarters in Eindhoven,
  was comprised of member banks in the southern region.

The difference between the two organisations was more than just geographical however, reflecting
social, religious and political divisions as well.
The move to centralisation
During the latter half of the 20th century, the political and religious tensions that had previously divided the
Netherlands and all of Europe gradually eased. Competition between financial institutions was increasing
and many Dutch regional banks were merging to satisfy increasing demands for credit. Reflecting this
environment, the two central organisations in Eindhoven and Utrecht decided to make a major change.
In 1972 they merged and formed one central cooperative bank – the Coöperatieve Centrale Raiffeisen-
Boerenleenbank, or Rabobank.

Following the merger, Rabobank became increasingly aware of the need to establish an international
presence in order to meet the growing and more complex needs of customers who were expanding their
business presence overseas.

Rabobank’s first office outside of the Netherlands was opened in Curaçao in 1978. Then Rabobank opened an
office in Frankfurt, Germany in 1980, followed by fully-fledged branches in New York in 1981 and London in
1983. The 1990s saw a more rapid international expansion, with offices opening in São Paulo, Santiago, Buenos
Aires, Mexico City, Singapore, Hong Kong, Hamburg and Sydney.

                                                                                              The Rabobank Story   |   5
Rabobank as an all-finance provider
In the 1990s Rabobank developed into an all-finance provider, offering a full suite of integrated banking,
investment and insurance products. The goal was to become a financial “department store” where, in addition
to more standard offerings, customers could obtain highly specialised products, which require a high degree
of sophisticated and tailored financial structuring. As the nature and scope of customers’ needs grew, the size
and constitution of the Rabobank organisation grew in tandem. A number of specialised subsidiaries were
added to the Group to meet these needs, including:
    De Lage Landen – leasing and trade finance
    Robeco – asset management and investment funds
    Interpolis – insurance and pension services
    Schretlen & Co – private banking and capital management
    Obvion – mortgage finance, operating through independent agents

6   |   The Rabobank Story
Rabobank retains cooperative structure
In 1995 Rabobank began an internal discussion on the organisation’s future as a cooperative. With financial
services it developed markets available to consumers and business via numerous channels, it was questioned
whether Rabobank’s cooperative structure would remain relevant and appropriate when looking to the
21st century.

Some in the organisation felt that Rabobank could achieve stronger growth if it was able to increase its
equity and capital by becoming a publicly traded company. However, there were also many who felt it was
important not to move away from Rabobank’s founders vision of a cooperative organisation providing a
reliable source of credit to rural borrowers, which placed customer service over profits.

This debate lasted three years, during which time the various arms of the bank, including the boards of the
local banks, were actively involved in multiple rounds of discussions. At the conclusion of these discussions in
1998, on the eve of Rabobank’s centenary, the decision was crystal clear.

Rabobank’s commitment to remaining a cooperative financial services provider and to serving customers
remains its top priority.

                                                                                            The Rabobank Story   |   7
Rabobank Group: overview Group: overview
The Rabobank Group is a leading provider of financial    Throughout our history of growth we have
services around the world, and the premier financial     maintained our primary focus on the food and
institution for the global food and agriculture          agriculture industry, while also extending our core
industry. Headquartered in Utrecht, the Netherlands,     competencies and strengths into other business
Rabobank is a cooperative bank with over AUD1,039        sectors where our knowledge and strength are
billion in assets (€615 billion), 9.5 million customers, valuable assets. Today Rabobank is recognised
61,000 employees, and a presence in 46 countries.        around the world as the premier lender to agriculture
                                                         – the “financial link in the global food chain” – thanks
Rabobank is one of the 25 largest financial institutions
                                                         to our century of experience, worldwide presence
in the world based on Tier 1 Capital and has been
                                                         and extensive knowledge of agriculture. We are also
ranked as the world’s safest non-government owned
                                                         specialists in providing sophisticated, customer-
bank by Global Finance magazine (a Financial Times
                                                         driven solutions in the banking, financial markets and
publication) every year since 1999.
                                                         corporate finance arenas, offering a diversified suite of
From our agricultural roots as a local credit            financial products and services, expertise and advice.
cooperative, Rabobank has grown into a global
                                                         Rabobank has also retained its cooperative origins,
financial services leader, providing retail and business
                                                         which are reflected in our strong focus on customer
banking, asset management, insurance, lease
                                                         relationships, commitment to service, and community
financing, corporate and investment banking, M&A
                                                         involvement. We invest and participate in the local
advisory and syndications, capital markets products,
                                                         communities where we do business. Through the
corporate finance, trade finance, private banking,
                                                         Rabobank Development Program we promote access
commercial real estate development financing,
                                                         to credit for rural communities in developing nations
consulting services, and agricultural lending for
                                                         around the world.
a wide range of clients – including individuals,
small and medium businesses (SMEs), real estate          At Rabobank our central mission is to create value
developers, corporations, financial institutions,        for our customers. As a cooperative we are able to
farmers and ranchers, and food and agribusiness          reinvest profits in the growth of our local businesses,
firms all over the world.                                rather than distribute profits to shareholders. This
                                                         enables us to have a long-term view of our financial
                                                         and client relationships as well as our own banking
                                                         performance, and to maintain a high capital ratio.
Rabobank Group: products and services                               Rabobank: key facts
Rabobank offers a broad range of value-adding sophisticated          One of the 25 largest financial institutions in the world, based on
financial solutions to individuals, small and medium enterprises,    Tier 1 Capital
corporations, financial institutions, investors, and agricultural    Over AUD1,000 billion in assets
producers in key markets around the world.
                                                                     9.5 million customers
Retail Banking                                                       Some 61,000 employees
     Mortgage Lending                                                Presence in 46 countries
     Investment and Asset Management                                 Leading financial institution for the global food and
                                                                     agriculture industry
                                                                     Leader in Corporate Social Responsibility
     Lease Financing
                                                                     Rabobank Development Program promotes sustainable
     Real Estate Lending
                                                                     economic development around the world
     Agricultural Lending
                                                                     Ranked by Global Finance magazine as the world’s
     Commercial Real Estate Financing                                safest non-government owned bank every year since 1999
     SME Business Banking

Corporate Banking
     Corporate Finance
     Investment Banking
     Treasury Management
     Trade Finance
     Structured Finance
     Private Banking
     Mergers & Acquisitions

10     |   The Rabobank Story
Rabobank: brand values                                                   Rabobank: our mission
Rabobank makes an unequivocal brand promise to our customers.            At Rabobank our central mission is to create value for our customers.
This promise is expressed in our three core brand values, stating that   Rabobank is guided by the goal of enabling individuals and
Rabobank is:                                                             businesses to participate fully and independently in economic activity
  Nearby: Rabobank is in the local communities where our customers       in their local communities. As our customers’ best interests are the
  are. We are a valued financial partner to our customers, and have a    foundation of everything we do, we strive to:
  close knowledge of their business, their market and industry, and         Offer the best possible financial services that are relevant to our
  their financial needs.                                                    customers’ needs.
  Involved: Rabobank takes an active interest in learning and               Ensure that the continuity of our services is in line with our
  supporting our customers’ businesses. We build long-term                  customers’ long-term interests.
  relationships with our customers and commit to providing them             Fulfill Rabobank’s commitment to our customers and their
  with personal and responsive service.                                     environment, to help our customers realise their goals.
  Equally, Rabobank is involved in the local communities where
                                                                         We set the highest standards of behaviour for Rabobank employees in
  we operate, through our investments, our resources and our
                                                                         terms of how we as co-workers interact with one another during the
  employees’ time. We strive to act responsibly at all times
                                                                         business day, the manner in which we transact business with clients
  and are committed to a high standard of sustainability in our
                                                                         and vendors, and our involvement and participation in communities
  business activities.
                                                                         where we operate.
  Leading: Rabobank is a market leader; we are also an innovative
  and forward-thinking organisation, in our development of new           Our goals are to be an employer of choice, a valued and trusted
  products and technologies, anticipation of our clients’ needs,         business partner, and a vital participant in the world economy. We
  foresight into industry trends and developments, and in our            realise that the achievement of these goals is directly related to the
  own organisation.                                                      manner in which we conduct our business and the way we treat our
                                                                         customers and our employees. At Rabobank, our employees are our
                                                                         ambassadors to the world.

   The Rabobank Name                                                     The Rabobank Logo
   Rabobank is the business and brand name of the                        Rabobank’s logo is unique among
   Coöperatieve Centrale Raiffeisen-Boerenleenbank. The                  financial institutions and it is rather
   name Rabobank is derived from two central ooperative                  simple: a human figure traversing a
   banking organisations which operated in the Netherlands               sundial. Visually, the logo represents
   for nearly 75 years:                                                  time and the central role that
     Cooperative Association of Raiffeisen Banks                         people have always played in our
                                                                         organisation. The logo symbolises
     Cooperative Central Farmers’ Credit Bank (or
                                                                         Rabobank’s commitment to stand by
     Boerenleenbank: “Boer” = “Farmer” in Dutch).
                                                                         our customers over time and help our
   These two organisations merged in 1972 and formed one                 customers achieve their long-term
   central cooperative bank – the Coöperatieve Centrale                  financial goals.
   Raiffeisen-Boerenleenbank or Rabobank.

                                                                                                                       The Rabobank Story    |    11
     Rabobank Group: global presence

      Dutch locations

                                       The Rabobank brand is used by the local Rabobanks and by Rabobank
                                       International in 27 countries. With all its other Group entities, Rabobank Group
                                       operates in 569 locations spread over 46 countries, including the Netherlands.
                                       In addition, Rabo Development operates in 9 countries and Rabobank
                                       Foundation in 26 countries.

12    |   The Rabobank Story
Rabobank Group locations
North America       Europe              Asia                          Australasia
   Canada              Austria             Bahrain                          Australia
   United States       Belgium             China                            New Zealand
                       Czech Republic      India
Latin America          Denmark             Indonesia
   Argentina           Finland             Japan
   Brazil              France              Korea
   Cayman Islands      Germany             Malaysia
   Chile               Guernsey            Oman
   Curaçao             Hungary             Qatar
   Mexico              Ireland             Singapore
                       Italy               United Arab Emirates
                       United Kingdom

                                                         Rabobank label
                                                        Group entities
                                                         Rabobank label and Group entities

                                                     For more information on locations, please visit
                                                     Rabobank Group is represented in additional
                                                     countries through its subsidiary companies
                                                     Interpolis and De Lage Landen.

                                                                The Rabobank Story          |   13
Rabobank Group: structure, governance and regulation
What distinguishes Rabobank is our cooperative structure

As a cooperative, the Rabobank Group is comprised of: a central banking organisation, “Rabobank Nederland”;
152 local cooperative Member Banks; an international banking arm, “Rabobank International”; and several
specialised subsidiaries. A cross-guarantee among all entities in the Rabobank Group provides financial
security and intra-group support.

     The 152 Member Rabobanks are each cooperative entities
     that provide retail and community banking to customers from
     branch locations in the Netherlands. All of the member banks
     retain local management and are technically considered the
     owners of the Rabobank Group.
     Customers of each local Rabobank can become members of
     their cooperative but they do not own stock in it. Membership
     includes full voting rights, enabling customers to have a voice
     in Rabobank’s decisions and ensuring that Rabobank is able
     to deliver on its promise of customer value. Together, the
     152 local Rabobanks serve a combined total of 1.7 million
     Rabobank’s central organisation, Rabobank Nederland,
     remains responsible for the supervision of the financial health    Rabobank Group:
     of the Group as a whole. It also advises and supports the local
     Rabobanks in the Netherlands. Additionally, it acts as treasurer
                                                                        cross-guarantee system
     to the entire Group, conducts wholesale banking, and is the        The Rabobank Group has a cross-guarantee system,
     holding company for specialised subsidiaries that provide          which guarantees the solvency strength of the
     insurance, asset and investment management, leasing, private
     banking and real estate financing.
                                                                        Group as a whole and of the individual entities.
                                                                        In this cross-guarantee the 152 Member Banks,
                                                                        Rabobank Nederland and its affiliates are legally
                                                                        responsible for each other’s financial commitments.

14     |   The Rabobank Story
 Rabobank Group Structure

                                                                      9.5 million clients

                                                                 1.7 million members

                                                                 152 local Rabobanks

                                                                 Rabobank Nederland
            Support of local Rabobanks           Staff functions Rabobank Group                               Rabobank International
     • Private individuals                      • Corporate Social Responsibility           • Food & agribusiness
     • Small & medium-sized enterprises         • Investor Relations                        • Wholesale banking
     • Private Banking                          • Long-Term Funding                         • International retail banking
     • Other support units                      • Other staff units

     Asset Management             Leasing                  Real estate                Insurance                   Housing              Business
     •   Orbay               • De Lage Landen         • Rabo Real Estate         • Eureko (39%)             • Obvion             • Rembrandt
     •   Robeco                - Athlon                 Group                      - Interpolis                                    Mergers and
                                                        - Bouwfonds                                                                Acquisitions
     •   Sarasin               - Crediam
     •   Schretlen & Co        - Freo                     Development
                                                        - Bouwfonds REIM
                                                        - FGH Bank
                                                        - Fondsenbeheer
                                                        - MAB

Governance                                                                       Regulation
The Rabobank Group is governed by two boards of directors – a                       Within the Netherlands the Rabobank Group is regulated by the
Supervisory Board and an Executive Board.                                           Dutch Central Bank. Rabobank is subject to Dutch tax regulations
                                                                                    and pays taxes to the government of the Netherlands. Rabobank
  The Supervisory Board is comprised of external directors,
                                                                                    does not have any government-sponsored funding or a tax-
  individuals who are not employed by Rabobank, who are elected
                                                                                    exempt status.
  by the member banks and guide Rabobank Nederland in its
  supervisory role for the Group.                                                   Rabobank International is subject to regulation and supervision by
                                                                                    the various governmental authorities and regulatory agencies in
  The Executive Board is comprised of senior Rabobank management
                                                                                    the respective countries in which it operates.
  who are appointed by the Supervisory Board. This Board is
  responsible for the management of Rabobank Nederland and its
  affiliated entities.

                                                                                                                               The Rabobank Story   |   15
Rabobank in the Netherlands
The Rabobank Group has emerged as the market leader in the Netherlands in nearly all areas of
financial services, including food and agribusiness, small and medium enterprise sectors, mortgages,
payments, savings and investments.

Rabobank’s domestic profile:
 152 Rabobanks
 1,100 branches
 1.7 million members
 61,000 employees
 #1 agricultural lender, with nearly 90 per cent market share
 #1 sustainable bank (rated by Sustainable Asset Management group)

Rabobank has long been the bank of choice for Dutch farmers – ”the farmers’ bank.” It is also a
leader with non-farmers: according to recent market surveys, nearly 50 per cent of households in the
Netherlands bank with Rabobank. And Rabobank is the second largest association in the Netherlands,
boasting approximately 1.7 million members, who are served by over 61,000 employees.
Rabobank International
Rabobank’s international activities, started in the 1970s   agricultural lending and financial products for small
to meet the growing needs of its customers’ overseas        and medium enterprises (SMEs).
expansion, paved the way for future globalisation.
                                                            In 1996 Rabobank’s Central Banking Division was
The first international activities occurred through joint   renamed Rabobank International and formulated
ventures such as “Rabomerica”, a 1974 partnership           a customer-focused strategy based on corporate
between Rabobank and Bank of America.                       investment and private banking activities in the food
                                                            and agribusiness industry, and the media, telecom,
In 1978 Rabobank opened its first office outside the
                                                            and Internet sectors.
Netherlands in Curaçao. In 1981 Rabobank opened
its office in New York and, later that year, obtained       Since its inception Rabobank has grown into an
a triple A rating from the major U.S. credit rating         organisation with approximately 61,000 employees,
agencies. Around the same time offices were opened          with operations in 46 countries throughout North
in Frankfurt and London, allowing Rabobank to               America, Latin America, Europe, Asia, Australia and
strengthen its lending to agribusiness clients and          New Zealand. In many countries Rabobank has
promote money market activities in these and other          established itself as a leading financier to the food and
international markets. The 1990s saw rapid expansion,       agribusiness industry, offering a diversified portfolio
with offices opening in São Paulo, Santiago, Buenos         of financial products and services, and as a specialist
Aires, Mexico City, Singapore, Hong Kong, Hamburg           providing sophisticated, customer-driven solutions
and Sydney.                                                 in the financial markets, banking and corporate
                                                            finance areas.
In 1994, Rabobank began to export its retail
and commercial banking expertise outside the                Looking forward, Rabobank will continue to invest
Netherlands with the acquisition of PIBA Bank, a            in its wholesale and retail operations, to enhance
corporate financing specialist bank in Australia which      and expand its position in key food and agricultural
dealt mainly with large agricultural companies.             markets, and to capitalise on its strengths in other
Together PIBA and Rabobank acquired and developed           markets where it is a specialised player. Rabobank
small, non-urban banks, which were active in well-          is also extending its wholesale and retail banking
developed markets with a strong agricultural sector.        activities into Eastern Europe (Poland), Turkey, China
These banks focused specifically on retail banking,         and other areas.
Rabobank in Australia and New Zealand
Rabobank Australia & New Zealand is part of                                                                                  Businesses
Rabobank International, the Rabobank Group’s                                                                                 Rabobank Australia & New Zealand operates in four core businesses,
                                                                                                                             with a primary focus on the food and agribusiness sector, but also
international arm.
                                                                                                                             extending into the broader financial services market:
Australasian origins                                                                                                             Corporate Financial Services – delivering banking services to
                                                                                                                                 large corporations in the food, agribusiness, beverage and
Rabobank established an office in Australia in 1990 and acquired                                                                 related manufacturing and service sectors. The bank also
the Primary Industry Bank of Australia (PIBA) operating in Australia                                                             provides services to a select number of corporate clients and
and New Zealand in 1994. In 1998, Rabobank reinforced its                                                                        financial institutions in broader industry sectors.
commitment to the rural sector in New Zealand with the purchase
of Wrightson Farmers Finance. The bank has continued to expand                                                                   Rural Financial Services – providing a range of customised
and develop its operations in both countries in the years since.                                                                 financial products and services to primary producers.
                                                                                                                                 Business Banking – servicing the banking needs of middle
Size                                                                                                                             market enterprises operating in the food and agribusiness
                                                                                                                                 sector and related industries.
With headquarters in Sydney, Rabobank has 52 branches
throughout Australia and 30 branches in New Zealand. As at                                                                       RaboPlus – the bank’s online savings and investment service,
December 2009, the Group employed over 900 people in Australia                                                                   providing high-interest savings and deposits and direct access to
and New Zealand, with more than half based in regional locations.                                                                managed funds.

  Rabobank Group: Australia                                                                                                      Rabobank Group: New Zealand
                                                                                                                                                                                                                           As at December 2009



                                                                                                           Atherton                                                                      Auckland
                                                                                                  Ingham        Townsville                                                                   Pukekohe
                                                    NORTHERN TERRITORY
                                                                                         Cloncurry          Ayr                                                                                  Hamilton              Te Puke
                                                                                                                        Mackay                                                                                                   Whakatane
                                                                                       Longreach                                                                                                                                      Gisborne
                                                                                                       Emerald                 Rockhampton                                     New Plymouth         Taumarunui
                        WESTERN AUSTRALIA                                                                                                                                              Hawera                             Hastings
                                                                                                                              Dalby                                                                                  Waipukurau
                                                                                                             Toowoomba                                                                            Feilding        Dannevirke
                                                        SOUTH AUSTRALIA                                                               Brisbane
    Geraldton                                                                                                           Moree                                                                      Masterton

                        Dalwallinu                                                            NEW SOUTH WALES                  Armidale                                        Nelson                Wellington
            Moora                                                                                                            Tamworth                                             Blenheim
                             Merredin                                                                           Dubbo
                Perth                                                           Clare Berri            Forbes
                              Lake Grace                            Kadina                                 Orange
           Bunbury      Narrogin                          Port Lincoln                                          Sydney
                                        Esperance                                         Swan Hill
                                                                     Adelaide                               Goulburn
                              Albany                                                                  Wagga Wagga
                                                                                      Horsham Shepparton
                                                                                Hamilton VICTORIA
                                                                    Mount Gambier                                                                                                 Christchurch
                                                                            Warrnambool     Leongatha                                                                      Ashburton

                                                                                         Smithton                                                                     Timaru
                                                                                                    TASMANIA                                                         Oamaru
                                                                                                         Hobart                                          Alexandra

Our vision
The vision conveys our uniqueness and our strengths and provides a sense of unity
and direction to unite and inspire the organisation and all of its stakeholders.

                  “Through our people we will build
              on our outstanding customer relationships,
                          expert knowledge
                  and global strength to be the most
                successful food and agribusiness bank
                   and emerging financial services
                       provider in our region.”

    Our values
    We believe the following values should guide all our dealings with our clients, the
    community and each other.

    Integrity and high ethical standards – we are open in our relationships, we do what
    we say and we act honourably in our dealings.

    Performance at the highest level – we focus on delivering strong results and aiming
    for excellence in what we do.

    Respect for each other – we work in a cooperative manner and believe that teamwork
    is fundamental to a successful enterprise.

    Committed to our customers – we apply our expertise to add real value to our clients’
    businesses and we take the long-term view.

    Sustainable and responsible growth – we aim to be environmentally and financially
    responsible and to do business in a socially accountable way.
The Rabobank approach sets us apart
In line with its food and agribusiness speciality and cooperative structure, Rabobank’s approach to business is
differentiated by four key principles that convey the bank’s uniqueness.

People                                                                        Knowledge and expertise
Rabobank recognises that people are at the core of what we do – and           As a specialist focused on food and agribusiness, Rabobank Australia
of the bank’s success. As such, Rabobank’s vision can be distilled in         & New Zealand has an unparalleled knowledge and understanding of
the one simple message of ‘People creating success’.                          the sector in which it operates and clients’ individual needs.

In recognising the pivotal role that our people play, the bank is             Rabobank demonstrates an active approach to both acquiring
committed to providing support from within through leadership                 and distributing knowledge through a number of industry leading
training and programs such as ‘Cultivating People’, with workplace            initiatives. These include global research, strategic industry advisory
flexibility provisions and other employee benefits. Charged with              bodies and primary producer business management programs.
the responsibility of delivering our ‘face’ to the world, the quality
                                                                              This knowledge enables Rabobank to provide clients with benefits
of our people is paramount – which is why we work to encourage
                                                                              which go far beyond traditional banking services – working with
staff development, innovation and team work. The result is a
                                                                              them to build their expertise and grow their businesses.
genuine desire in Rabobank to do the right thing by our clients and
each other.
                                                                              Global strength
Client focus                                                                  As part of the world’s leading food and agribusiness bank,
                                                                              Rabobank Australia & New Zealand is uniquely placed to leverage
Rabobank’s primary focus lies in providing the best service, value
                                                                              vast international resources and networks for the benefit of local
and expertise to its clients. This philosophy is supported by our
                                                                              clients. As a result, the bank can also deliver a broad portfolio of
cooperative structure, which unlike listed companies, allows us the
                                                                              global products and a level of expertise far surpassing any others in
opportunity to gain a deep understanding of clients’ businesses
                                                                              the market. Rabobank’s locally incorporated banks in Australia and
and to take a long-term approach to developing a solid, mutually-
                                                                              New Zealand are respectively the safest banks in Australia and New
rewarding relationship.
                                                                              Zealand* and they have the benefit of Rabobank Group’s 110 years of
Our banking specialists work closely with clients and their advisors in       experience in food and agribusiness.
the key Australian and New Zealand markets – developing customer
relationships that are recognised as the strongest in the industry.

* The obligations of Rabobank Australia Limited and Rabobank New Zealand Limited are guaranteed by its ultimate parent, Rabobank who has been ranked as the
  world safest non-government owned bank by Global Finance magazine every year since 1999. The guarantee is unlimited in amount and unsecured.

                                                                                                                            The Rabobank Story     |    23
  Key events in the history of Rabobank International
  – Australia and New Zealand
       1864                                                        1898
       Friedrich Wilhelm Raiffeisen establishes                    Establishment of two regional, central banks:
       first agricultural cooperative bank                         • Cooperative Association of Raiffeisen Banks
       in Germany
                                                                   • Cooperative Central Farmers’ Credit Bank (Boerenleenbank)


                                     First agricultural credit
                              cooperative established in the
                             Netherlands by and for farmers,
                               based on Raiffeisen’s concept
                                                                        1994 - October
                                                                        Purchase of Primary Industry Bank
                                                                        of Australia (PIBA) by Rabobank

                                 1972                                   1995
            Merger of regional banks                                    Rabobank adopts new visual brand identity
            to form the Coöperatieve                                    and logo
                  Centrale Raiffeisen-
        Boerenleenbank or Rabobank                                      1999 - December
                                                                        Rabobank purchases Wrightson Farmers
                                 1978                                   Finance Limited and establishes Rabo
           Rabobank opens first office                                  Wrightson Finance Limited
              outside the Netherlands                                   Rabo Wrightson Finance Limited renamed
                           in Curaçao                                   to Rabobank New Zealand Limited


                                                                                              2005 - May
                                                                                              Global Financial
                                                                                              Markets operation
                                                                                              established in
                                                                                              Australasian head
                                                                                              office in Sydney

                                                                                              A new online banking
                                                                                              service, RaboPlus,
                                                                                              established in
                                                                                              New Zealand
                  Rabobank expands its international                           2002           2007
         activities to serve customers overseas and      PIBA rebrands to Rabobank            RaboPlus launched
       fulfill mission of financing global agriculture             Australia Limited          in Australia
Rabobank: investing in the future
While much has changed in the last 110 years, the        will aggressively defend our position as the premier
principles upon which Rabobank was founded have          financier of the global food and agriculture industry.
remained intact. We remain true to our core mission:
                                                         Rabobank strives to remain a leader in the area
to create value for our customers, employees and
                                                         of Corporate Social Responsibility, and to excel
the communities where we do business.
                                                         in sustainable entrepreneurship and banking
We take pride in our tremendous financial strength       throughout the world. Through the Rabobank
and stability because of the benefits that our clients   Development Program and the Rabobank
derive from these assets. Rabobank’s strength            Foundation, we encourage sustainable development
is built upon the commitment and knowledge               in the world’s developing markets and help improve
of our employees, whose passion for customer             access to financial services for people in under-
service and deep industry expertise provide              served regions. Our aim, in short, is to achieve an
significant competitive advantages for our clients.      enduring balance between our social, ecological
We are committed to the long-term viability and          and economic objectives, and to improve the social
sustainability of agriculture around the world and       prosperity of people everywhere.

                                                                                          The Rabobank Story   |   27
                                                          12498 / JAN 2010
Rabobank Australia Group           Rabobank New Zealand
Head Office                        Head Office
Darling Park Tower 3               Level 12
Level 16                           80 The Terrace
201 Sussex Street                  Wellington 6001
Sydney NSW 2000                    New Zealand
Australia                          Phone +64 4 819 2700
Phone +61 2 8115 4000    

Figures are as at December 2009.

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