Rabobank was founded as a finance cooperative over a century ago by Dutch farmers. What began in the 1890's as a collection of small rural banks financing local farmers in the Netherlands has since grown into one of the world's 25 largest banks. Today, we are one of the largest financial services providers in the world, with over USD 800 billion (Euros 570.5 billion) in assets, 9 million customers, and operations in over 35 countries worldwide.
Rabobank's name is derived from two cooperative banking groups which operated in the Netherlands throughout the 20th century: the Cooperative Central Raiffeisen Bank, and the Cooperative Central Farmer's Credit Bank (or 'Boerenleenbank' in Dutch). In 1972, they merged and formed one central cooperative bank - the Cooperatieve Centrale Raiffeisen-Boerenleenbank, or Rabobank.
Rabobank first expanded outside the Netherlands in the 1970s, in order to continue serving our clients as they conducted business overseas. Rabobank's presence in the Americas began with the opening of our Curacao office in 1978. Our New York office opened in 1981, and since then Rabobank has grown to become a leading financier to the entire pan-American food and agriculture sector, and the bank of choice for thousands of local customers in California and Chile.
Reflecting our heritage, Rabobank today remains a cooperative membership institution, much as we were 110 years ago. We are not a shareholder driven institution - rather, Rabobank is a self-owned company, owned by the central Rabobank, its subsidiaries, and local cooperative banks in the Netherlands. We do not distribute dividends, but instead reinvest profits in the growth of our local businesses.
We have also remained true to our agricultural roots and have continued to finance farmers while extending our financial strengths to all segments of the agriculture industry, as well as select retail and business banking markets.
At Rabobank, our core focus is to create value - for our clients, our employees, and our local communities. With our tremendous financial strength, century of agricultural experience, unparalleled global expertise, and unshakeable commitment to customers, it is no wonder that Rabobank is the bank of choice to clients across the Americas and around the world.