Rabobank: Annual figures 2021

February 10 2022

Rabobank net profit almost EUR 3,7 billion

Rabobank published its annual figures for 10 on 2022 February 2021. The bank presents a net profit of almost 3,7 billion euros. The trend that we already saw with the publication of the half-year figures (result of 2,2 billion euros for the first 6 months of 2021) has continued.

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Rabobank reports in the press release:

“Rabobank net profit amounted to EUR 3.692 million in 2021, compared to EUR 1.096 million in 2020. While the 2020 results were still significantly impacted by the effects of Covid-19, the improved market conditions and good performance in several business units contributed to this strong financial Results".

Rabobank employees contributed to these strong financial results. Now that the annual figures are positive, the members of De Unie push for a decent wage increase. De Unie believes that Rabobank employees have limited their salary expectations in bad times. Now it is up to Rabobank to fulfill the social contract and to let employees benefit from the positive developments.

Periodic consultation January 2022

A short periodic consultation was held in January 2022. Actually too short, so we had to make choices about which subjects could be treated.

On the agenda were:

Personal development budget
Grow
Evaluation of the voluntary severance package

Grow
The Grow working group will set up a number of pilots aimed at improving the use of Grow. We will not let go of the purpose of the study agreement, exploring possibilities to uncouple rewards and assessment.

Personal development budget
In response to messages from members, De Unie introduced the subject of personal development budget in the periodic consultation. Rabobank had also received complaints from employees that they could not spend their personal development budget freely. Rabobank has conducted research into this, and we would like to add a few questions. We would like to discuss this further in the periodic consultation in February.

Voluntary severance scheme
The voluntary severance package is one of the instruments in the redundancy plan that Rabobank can deploy in the event of a reorganization involving reflection. This instrument has been used to a limited extent in recent years. The evaluation shows that employees were satisfied if this option was opened up. They were happy that they were in control of the process themselves and that they were not solely dependent on the outcome of the reflection.