Rabobank Announces Positive Progress on All Strategic Initiatives in First Half 2018
In the first half of 2018 Rabobank posted a net profit of EUR 1,698 million, 12 percent more than in the first half of 2017. This result was underpinned by favorable economic conditions, which contributed to a net release in impairment charges. Income remained more or less stable and costs fell causing the cost/income ratio to improve. The private sector loan portfolio and the deposits from customers increased. Underlying profit before tax, adjusted for the impact of restructuring costs and fair value items, came out 2 percent higher. Rabobank's capital base is strong: the fully loaded common equity tier 1 ratio rose once again and now stands at 15.8 percent. The return on invested capital was 8.8 percent, exceeding the targeted 8.0% (1H 2017: 7.8%).