Rabobank reported a 2020 net profit of EUR 1.1 billion, down 50% Year-on-Year (YoY) reflecting the impact of the COVID-19 pandemic, as loan loss provisions doubled to EUR 1.9 billion and income declined by 8% to EUR 10.8 billion. Results included exceptional items of EUR - 402 million compared to EUR - 253 million in the previous year, when the Bank benefitted from the sale of its foreign retail operations (RNA). On a like-for-like basis (excluding RNA's contribution in 2019 and other exceptiona...
With prolonged ultra-low interest rates affecting European banks’ revenues, in 2020 it will be key for banks to reduce operating costs further, while maintaining necessary investments in IT, regulatory and compliance requirements. Other key themes that DBRS Morningstar considers important in 2020 include the importance of banks having adequate controls in place to manage operational risks, regulators and investors making increasing demands on banks to recognise the impact of climate change, an...
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