Sharechat Logo

Henry van der Heyden takes over as chair of Rabobank NZ

Thursday 17th November 2016

Text too small?

Henry van der Heyden has been appointed chairman of Rabobank New Zealand Limited, replacing John Palmer who has retired from the board. 

Van der Heyden, the former chairman of Fonterra Cooperative Group, has been a director of the bank since 2012. Palmer’s director seat will be filled by Scales Group managing director Andy Borland, the bank said in a statement. 

Rabobank, owned by Netherlands-based Rabobank Nederland, is one of New Zealand’s largest rural lenders after setting up here in 1998 when it bought the former Wrightson Farmers Finance banking business. It also provides corporate and business banking to the food and agribusiness sector and online retail savings and investments business RaboDirect.

Wiebe Drajer, chairman of the International Rabobank Group, said the bank was fortunate to have someone of van der Heyden's calibre take over the chairmanship of its New Zealand operations.

In its June disclosure statement under material matters, Rabobank said while there had been a modest increase in farm gate milk prices off low levels, they remained at low levels.

“Very low prices for an extended period would likely increase dairy farm loan defaults and the potential for higher loan loss provisions in the bank’s dairy portfolio,” it said.

Loans to dairy farmers make up more than half of the bank’s overall portfolio which stood at just under $9.5 billion in the year ended Dec.31, 2015.

Total impairment losses for the six months to the end of June were $10.3 million, compared to $834,000 in the comparable six month period in 2015. 

The bank’s total capital ratio is 13.52 percent, well above the 8 percent minimum requirement and 2.5 percent buffer ratio.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

House price inflation ticks higher as sales volumes recover
Fletcher in $31 mln dispute with ministry over Greymouth hospital
NZ dollar eases as markets fret about US-China trade talks
15th October 2019 Morning Report
CTU pressures govt for Fair Pay Agreements
NZ Rugby not ready for a seat at Sky board table
MARKET CLOSE: NZ shares gain; Sky soars on NZ Rugby deal
NZ dollar falls ahead of inflation data
F&P Healthcare shares hit record on improved guidance
Bounce in international guest nights some reprieve for slowing tourism sector

IRG See IRG research reports