OREANDA-NEWS. The Central Delegates Assembly of the Rabobank issued a positive advice today on a proposal outlining the new governance structure for the bank. The details of how the new cooperative governance will operate will be fleshed out in the coming period in dialogue with all parties involved. A final decision is expected before the end of this year.

The proposal, which is intended to lead to a better cooperative and a better bank, includes a decentralised organisation of local banks based on cooperative principles which operates effectively to serve its customers, the market and society. The influence of the bank’s members will be reinforced as a result, both at local and collective level. It is proposed that local banks will work together from a single cooperative with a combined banking licence.

Wiebe Draijer, Chairman of the Executive Board, believes this is a balanced proposal which will strengthen both the cooperative and the bank. ‘The principle at the heart of our governance is and always will be that customers can use their membership to keep the bank on course both at their local bank level and across the organisation as a whole. Through this proposal we are expanding the influence of members even further. Improvements in the cooperative will lead to better results in the local market. The challenge we face is to integrate our local presence, nearby our customers, within our online service provision.’