Rabobank profit slides 17% in 2009
Non-listed cooperative bank Rabobank booked a 17% drop in net profit in 2009, because of the credit crisis and competition on the Dutch savings market.
Rabobank controls 40% of the Dutch savings and 30% of the mortgage market. Net profit reached €2.3bn, down from €2.75bn in 2008.
But despite the crisis, the Utrecht-based bank’s loan portfolio expanded 2%.
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