Rabobank withdraws from Germany

Wednesday 24 March 2021 13:34 CET | News

Netherlands-based Rabobank has announced closing its German retail banking division, including the ‘Rabodirect’ brand.

Rabobank is in negotiations with employee representatives and is aiming to reach a fair agreement and acceptable solutions for the employees concerned as soon as possible. The plans currently have no effect on the banks’ customers and all of their services can be used as usual for the time being.

Rabobank had announced the relocation of its entire European direct banking business from Utrecht to Frankfurt in 2019. Before relocating, Rabobank had already been active in Germany from 2013 onwards with its banking services and saving option Rabodirect. It is not clear from the banks’ announcement what the exact reason for the withdrawal from Germany is.

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Keywords: banks, online banking, mobile banking, bank account
Categories: Banking & Fintech
Countries: Germany
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Banking & Fintech

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