Rabobank to boost provisions for Asia

Article Abstract:

Rabobank, which is based in the Netherlands, will implement more provisions for exposure to Asia as the bank anticipates its full year 1998 profit to increase by as much as 10%. Company Chairman Herman Wijffels stressed that the company's first half would be better compared with its second half, but Rabobank has not been affected to a huge extent by the current worldwide financial problems. The net profit of Rabobank for the first six months of 1998 increased by 16.3% to 1.16 billion guilders. Meanwhile, banking competitors ING Groep NV and ABN Amro, both based in the Netherlands, have had to issue profit warnings because of the effect of worldwide financial crisis.

Comment:

Will implement more provisions for exposure to Asia as this co anticipates its full year 1998 profit to increase by up to 10%

Financial management, Rabobank

Rabobank deal expands competition

Article Abstract:

Rabobank Nederland's proposed merger with Achmea Holding NV marks the creation of a new Benelux financial-services group, with 53,000 employees in the Netherlands alone. Rabobank and Achmea stated that they first intend to combine their asset-management and insurance operations and then complete their full consolidation within three years. The new group is set to become the biggest financial-services company with combined assets worth approximately 486 billion guilders ($237.27 billion) by the end of 1998.

Comment:

Its proposed merger w/ Rabobank Nederland marks the creation of a new Benelux financial-services group

Acquisitions & mergers, Insurance, Insurance Carriers and Related Activities, Rabobank Nederland, Achmea Holding N.V.

Rabobank, DG Bank plan joint venture

Article Abstract:

Netherlands-based Rabobank NV and Germany-based DG Bank AG plan to announce a joint venture that will combine the banks' international businesses. The activities to be combined would include investment banking, capital markets and structured finance, according to inside sources. The banks reportedly expect to establish a separate bank that would heavily emphasize agribusiness.

Strategy & planning, Germany, Joint ventures, Statistical Data Included, Banking industry, Mergers, acquisitions and divestments, Rabobank N.V., DG Bank AG