Rabodirect now covered by Dutch 100k Euro Guarantee

The Rabobank group has welcomed the move by the Dutch government to increase its deposit guarantee to €100,000. The guarantee applies to RaboDirect which is regulated by the Dutch Central Bank.

Welcoming the announcement Roel van Veggel, General Manager, RaboDirect said “RaboDirect is part of Rabobank Group the world’s safest privately owned bank and our AAA rating which we had for the last 27 years already means the Irish customers are dealing with a very solid bank. However this move by the Dutch Central Bank now provides additional reassurance to our Irish customers.

The Rabobank Group recently reported interim results for 2008 which showed a 12% increase ahead of targets for the first six months of 2008. Rabobank Group has assets amounting to €567 billion exceeding the combined assets of all six Irish banks.