Rabobank exposure to southern European countries and Ireland
22-6-2010 | Financieel
Rabobank has a very limited sovereign debt exposure to the southern European countries (Greece, Italy, Portugal, Spain) as well as Ireland. Total exposure on these countries amounts to 1.5 billion Euro for Rabobank Group including its subsidiaries.
We do not expect any significant impact on P&L or equity unless a total collapse will take place. Our loan exposure in those countries is also very limited, except for Ireland in which we have a retail bank named ACCBank. The situation with respect to ACCBank in Ireland has not changed since our press release on the annual results 2009 published on March 6, 2010 (a 5 billion Euro corporate portfolio with a 1 billion Euro provision).
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