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%
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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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.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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