On 22 November 2023, the European Commission announced that it was fining Rabobank EUR 26.6 million in connection with certain historic communications between a small number of individuals at Deutsche Bank and Rabobank, which the Commission has concluded breached EU competition law.
The bank has cooperated with the Commission’s investigation throughout and is disappointed by the outcome as announced today. Rabobank is considering lodging an appeal. The amount of the fine has already been provisioned for in the 2022 financial statements.
Rabobank seeks to maintain a strong culture of compliance across its business and employees worldwide, including in relation to competition law, and considers its obligations in this regard to be of the utmost importance.
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