In a world that remains dynamic and volatile, the first half of 2026 demonstrated once again the importance of adaptability and resilience. In this context, we continue to deliver solid results. Our strong performance and robust capital base enables us to keep investing in future growth, supporting our customers and contributing to society as a whole.
Chair of the managing board Stefaan Decraene: “This resilience is evident among our Food & Agri (F&A) customers around the globe with the ongoing challenges of weather events, market cycles, regulation and changing consumer needs. Recent developments in the Middle East have added further uncertainty through volatility in energy and fertilizer markets, creating ripple effects across the global food system. Our bank supports our F&A customers in strengthening their businesses and investing in a sustainable and future proof food system.
“Besides our global F&A activities, we further strengthened our position in the Netherlands. Rabobank remained market leader in mortgages, savings and SME lending. With over 800,000 SME’s and close to 350,000 self-employed customers, we support the beating heart of the Dutch economy. Our private banking franchise grew further, with Assets under Management now totaling EUR 83.1 billion, reflecting the strength of our diversified business model.
“Our worldwide activities contributed to Rabobank’s strong performance showing a net profit of EUR 2,694 million for the first half of 2026. This was supported by healthy income growth, prudent cost management, and robust asset quality.
“Within Domestic Retail Banking (DRB), both deposits and lending activities maintained their sustainable growth trajectory, reaching EUR 375.1 (2025: 366.7) billion and EUR 293.0 (2025: 284.4) billion respectively. Net interest income at DRB increased by 6% to EUR 3,951 million, despite slightly lower lending margins. Net fee and commission income grew steadily across our domestic operations.
“Against a backdrop of ongoing market uncertainty, Wholesale & Rural (W&R) maintained solid business momentum, reflected in growth of its loan portfolio by EUR 7.8 billion to a total of EUR 142.7 billion at constant FX. While W&R’s net interest income increased, overall income decreased mainly due to lower income at Rabo Investments. DLL’s income declined modestly compared to the first half of 2025, impacted by mixed economic circumstances across different regions. The lease portfolio remained stable, totaling EUR 47.1 billion.
“Total operating expenses increased slightly in line with expectations, reflecting the balance between inflationary effects and cost control. Cost discipline remains a priority while we continue to invest in the future of the bank.
“Artificial Intelligence (AI), data and other new technologies will further transform the way we work. To take full advantage of these developments, and most of all to meet evolving customer expectations, we will invest up to EUR 2 billion in strengthening our Data & IT foundation, enhancing customer experience and scaling AI.
“In the current challenging environment, impairment charges on financial assets increased to EUR 562 (2025: 136) million, mainly driven by a few large specific provisions in our Wholesale business.
“Our cost/income ratio improved to 50.2%. We delivered a return on equity of 9.5%, demonstrating the resilience of our business model. With a CET1 ratio of 20.2%, Rabobank is among the best-capitalized banks in Europe.
“With our strong capital foundation and solid performance, we are in a good position to execute our sustainable growth strategy, invest significantly in the future of our bank, and remain a meaningful partner for customers and society.
“To conclude, I would like to thank our customers, members and colleagues for their trust and commitment.”
Read the full press release here. More information about the Interim Results: rabo.nl/results.
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