Rabobank Indonesia

25-2-2009 | Press Release

PT Sucofindo recently awarded PT Bank Rabobank International Indonesia (Rabobank Indonesia) with the Top 5 Most Active Banks in 2008 in Warehouse Receipt Financing. Rabobank Indonesia is well known as a leading food and agribusiness (F&A) bank with strong Trade Commodity Finance and soft commodity expertises in Indonesia.. The bank also plays an active role in campaigning and leading the financing of soft commodities in Indonesia.

"I am honoured to receive this accolade for the fifth time since 2005. This award underlines Rabobank's expertise as a global financial leader in Food and Agribusiness, especially in soft commodity trade financing," said Rabobank Indonesia Chief Financial and Risk Officer Geert Embrechts who received the award from Sucofindo Vice President SBU – Financial Business Support, Rolia Nurdiawati at the bank's Plaza 89 Head Office earlier this month.

"Most of our trade finance clients use Rabobank's Collateral Management Agreement (CMA) or comparable structure. Through our innovative structures, we are able to provide financing on an acceptable basis and terms. Our increased network of 95 branches allows us to serve our clients better and we aim to be 'the commodity bank next door'," added Mr. Embrechts.

The Sucofindo award was established in 2005 with the objective to aknowledge companies for their outstanding accomplishments. PT Sucofindo is the first inspection company established in Indonesia in 1994 through a joint venture between the state of Republic of Indonesia and the Societe Generale de Surveillance (SGS) Holding, SA, the world's largest inspection company, headed in Geneva, Switzerland. PT Sucofindo's certification services (Sucofindo ICS) include certification of quality & environmental management systems and product. Sucofindo was also appointed by the Ministry of Manpower of the Republic of Indonesia as an independent auditing body to measure the achievement level of the implementation of Occupational Safety and Health (OSH) Management System at every workplace in Indonesia.

Rabobank Indonesia had the honour of being the first party to introduce trade and commodity finance within CMA context product to Sucofindo and other collateral managers in Indonesia in early 1996.

Criteria for this award are based on three aspects:
   (1) Total revenue driven from depositors who do business with the bank
         as well as quality (of receivables) of the respective depositors
   (2) Amount of contract/customer per annum
   (3) Loyalty (that is how long the relationship has established between
         the client/bank with Sucofindo)

It was indicated that Rabobank scored best overall on these.