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The Rabobank logo is seen at its headquarters in Utrecht, Netherlands August 21, 2018. Picture taken August 21, 2018. REUTERS/Eva Plevier/File Photo
AMSTERDAM, Aug 10 (Reuters) – Dutch cooperative bank Rabobank (RABO.UL) on Thursday reported that its first-half profit nearly doubled as higher interest rates helped interest income and loan impairments remained modest.
Net profit was 2.53 billion euros ($2.78 billion), up from 1.28 billion euros in the first half of 2022.
Rabobank is the third largest Dutch bank behind ING and ABN Amro, and is the largest mortgage lender in the Netherlands, as well as a major agricultural lender internationally.
Loan provisions increased to 339 million euros from 42 million euros a year earlier.
The bank said its CET1 capital ratio increased to 16.7% from 16% and its cost-income ratio fell to 51.3% from 66.8%.
($1 = 0.9098 euros)
Reporting by Toby Sterling; editing by Jason Neely
Our Standards: The Thomson Reuters Trust Principles.
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