Rabobank 4.11

Rabobank is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. It is a global leader in food and agriculture financing and sustainability-oriented banking. The group comprises 129 independent local Dutch Rabobanks (2013), a central organisation (Rabobank Nederland), and a large number of specialised international offices and subsidiaries. Food and agribusiness constitute the primary international focus of the Rabobank Group. Rabobank is the second-largest bank in the Netherlands in terms of total assets.A 2013 scandal resulted in a $1 billion fine for unscrupulous trading practices, which included the manipulation of LIBOR currency rates worldwide. Chief Executive Piet Moerland resigned immediately as a result.In terms of Tier 1 capital, the organisation is among the 30 largest financial institutions in the world. As of December 2014, total assets amount to €681 billion with a net profit of €1.8 billion. Global Finance ranks Rabobank 25th in its survey of "the world's safest banks".HistoryRooted in agriculture, Rabobank is set up as a federation of local credit unions, which offer services to the local markets. The central organisation is a subsidiary of local branches—not the parent, as is the case with most banks.