Dutch cooperative bank Rabobank (RABO.UL) announced on Thursday a significant surge in its first-half profit
with elevated interest rates boosting interest income and minimal loan impairments.
The reported net profit reached 2.53 billion euros ($2.78 billion)
almost doubling from the 1.28 billion euros recorded in the corresponding period of 2022.
Rabobank, ranking as the third largest Dutch bank after ING and ABN Amro
maintains its position as the Netherlands’ primary mortgage lender while also holding a significant role as an international agricultural lender.
Loan provisions marked an increase to 339 million euros from the 42 million euros reported in the same period a year earlier.
The bank’s Common Equity Tier 1 (CET1) capital ratio demonstrated growth
rising from 16% to 16.7%, and its cost-income ratio experienced a decline from 66.8% to 51.3%.
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