Rabobank Group net profit up 13% in first half year.

(From Hugin)

All group units reported an increase in net profit Bert Heemskerk, Chairman of the Executive Board, is pleased with the results for the first half year: "The 13% increase in net profit means we not only achieved a fine first-half-year result, but also exceeded the target we had set ourselves. All group units reported an increase in net profit. All the same, we will have to keep a careful eye on the ratio of the mortgage business margin to total expenses. Projects relating to Basel II, Sarbanes Oxley, the Identification (Financial Services) Act and the Disclosure of Unusual Transactions Act required the deployment of additional staff. Strategically, Rabobank's domestic and foreign …