Rabobank books 2% rise in 2008 profit

The Rabobank announced on Thursday that net profit rose 2% to €2.8bn last year. CEO Bert Heemskerk, said in a statement that the bank will continue to book a stable performance despite the economic crisis.

Nevertheless, the worldwide economic downturn had a negative impact of €1.2bn on the bank’s earnings figures.
Non-listed Rabobank has been less affected by the crisis than other banks because it has made considerably fewer risky investments. It is the only big Dutch financial services group not to have applied for government support.
The bank’s assets under management grew 13% in 2008 to €114.7 bn and 21% (€55.7bn) more was lent to companies last year.
The bank said it now has 43% of the savings market and a 20% share of mortgages.

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