Rabobank first half profit rises 26%

Non-listed Rabobank booked net profit of almost €1.7bn in the first six months of 2010, up 26% on the year-earlier period.

Bad debt costs are down 50%, Rabobank said.
All parts of the company contributed to growth apart from the bank’s property operations, where net profit was down slightly at €66m.
Although the economic recovery continues to be fragile, the Dutch economy is now also showing a tentative upswing, which is helping many of our clients to improve their financial performance,’ said CEO Piet Moerland in a statement.