Dutch financial cooperative Rabobank reported a 12-per cent increase in its first-half net profit today and said improving economic conditions would help it achieve a similar earnings rise in all of 2004.
Rabobank, one of The Netherlands' leading retail banks, posted a net profit of €825 million as its income rose 13 per cent from a year-ago to €4.914 billion.
"Barring unforeseen circumstances, we expect the increase in net profit for 2004 to be in line with the growth of 12 per cent for the first six months," Rabobank chief executive Mr Bert Heemskerk said.
