The ratings on Coöperative Centrale Raiffeisen-Boerenleenbank B.A., which is commonly known as Rabobank Nederland, reflect its sound financial position, controlled risk profile, stable strategy, and strong franchise in The Netherlands. To date, Rabobank Nederland has demonstrated relative resilience to the economic downturn and recent market volatility, largely due to its robust domestic retail business. Nevertheless, its earnings have been pressured by elevated loan impairment charges, particularly in Ireland, as well as losses on structured credit and monoline exposures. A further factor was domestic margin pressure caused by strong competition for deposits. Rabobank Nederland maintained a good level of profitability through this period, however, and reported a 26% improvement in net earnings in the first half of 2010 as margins improved
