Farmers turning to RaboBank for loans

RaboBank is now Australia’s second largest rural lender, behind NAB, and has become a key lender to companies that have fallen out of favour with other financers.

“We have researchers and people around the world, who do nothing but talk to people about food and agriculture,” said Thos Gieskes, chief executive of RaboBank.

The banks eagerness to back underperforming rural companies has been key to its growth, with the bank delivering a record net profit of $211.7 million in 2007.

Source: Australian Financial Review