Rabobank cuts loan rate
Rabobank New Zealand will reduce the variable base rate on its rural loans by 0.5%, effective from 16 October 2024.
Dobbin – a veteran of 25 years with Rabobank in Australia and New Zealand, the past decade as group executive Country Banking Australia & New Zealand – has taken on the role of chief executive officer for RAF.
Rabobank Group executive board member Berry Marttin says during Dobbin's stewardship of its country banking operations in Australia and New Zealand, Rabobank had grown to become the leading food and agribusiness bank in the region.
"The business that Neil has been instrumental in developing – from its early days as the Primary Industry Bank of Australia to its position now as the leading food and agri bank in Australia and New Zealand – is the model for Rabobank's developing agricultural banking operations around the world," Marttin said.
"In addition to the quality of the bank's loan portfolio in Australia and New Zealand, the business has also developed an enviable reputation for its agribusiness expertise and client service.
"With the US such an important future growth market for Rabobank, we are delighted that Neil is transferring his very considerable skills, expertise and experience in agricultural banking to RAF to assist this business in its future success and development."
Headquartered in St Louis, Missouri, Rabo AgriFinance is one of the largest agricultural lenders in America.
With offices throughout the United States, the business offers a comprehensive suite of agricultural financial services and crop insurance to farmers and ranchers.
Rabobank Australia & New Zealand chief executive Thos Gieskes says Dobbin's US appointment demonstrated how highly valued his capabilities and achievements – and those of the local business – were internationally.
Gieskes says Dobbin will be greatly missed by his colleagues and the bank's clients across Australia and New Zealand.
"We are fortunate though that we are not losing Neil from Rabobank and that the United States will now get to benefit from his wealth of experience and expertise," he says.
The Group Executive Country Banking role will be taken over jointly by Peter Knoblanche in Australia and Ben Russell in New Zealand.
Dobbin, who has served on the board of RAF for the past two years, said he was looking forward to the opportunity to now embrace a hands-on involvement growing the US business.
"Like Australia and New Zealand, the United States is a substantial food bowl with some two million farmers and great opportunities for the agricultural sector. And just like here, American farmers are sophisticated, they adhere to best practice and utilise the best technology available.
"American farmers have many of the same issues as Australians and New Zealanders, but also many of the same opportunities. It will be very exciting to be part of Rabobank and the sector's growth in this part of the world."
