Rabobank NZ profit rises 31% to record, sees 'sustained' milk price recovery in 2016

Mon, 23 Mar 2015

March 23 (BusinessDesk) - Rabobank New Zealand said profit rose 31 percent to a record in 2014 as the local unit of Netherlands-based Rabobank Group increased rural sector lending and kept costs under control. Net profit was $105.5 million last year, from $80.8 million a year earlier, the Wellington-based company said in a statement. Net lending growth in 2014 was $342 million and rural lending grew by 4.5 percent, which Rabobank said was faster than overall growth of 4.3 percent in the rural debt market. The figures were provided in a two...

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