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Rabobank avoids recession blues with profit bump

The rural lender's food and agri lending book grew to $16.6 billion in 2023.

Rabobank New Zealand chief executive Todd Charteris.

Key points
  • Operating income: $526 million, up from $454.2m.
  • Profit: $218.5m, up from $193.4m.
  • Key takeaway: Rabobank made further lending and deposit growth gains last year despite challenging economic conditions. 

Agribusiness banker Rabobank has boosted its annual profit with broad lending and deposit growth despite difficult economic conditions.

The banking group’s net profit rose $25 million to $218.5m in the year ended December 31, compared with the previous year.

Its food and agribusiness lending book

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Key points
  • Operating income: $526 million, up from $454.2m.
  • Profit: $218.5m, up from $193.4m.
  • Key takeaway: Rabobank made further lending and deposit growth gains last year despite challenging economic conditions. 
Rabobank avoids recession blues with profit bump
Business,
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