Rabobank grows despite credit crisis

Cooperative bank Rabobank booked a 12% increase in net profit in the first half of 2008, with earnings up to a record €1.5bn, despite a negative impact from the US credit crisis of €529m.

‘We exceeded our financial targets despite the difficult situation on the financial markets,’ the unlisted bank said in a statement. Total income was up 7% at over €6bn.

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