Misplaced Pages

#837162

92-675: Founded in 1913 as the Coöperatieve Zuivelbank (Co-operative Dairy bank) , it affiliated with "Raiffeisenbank". However, as Raiffeisenbank merged with the Boerenleenbank to form Rabobank , the Coöperatieve Zuivelbank was once again fully independent. In 1970, the company changed its name to Friesland Bank. Originally operating only in Friesland itself, Friesland Bank started opening branches in

184-672: A Christian to come to God through Christ without human mediation. He also maintained that this principle recognizes Christ as prophet , priest, and king and that his priesthood is shared with his people. Protestants who adhere to the Nicene Creed believe in three persons ( God the Father , God the Son , and the God the Holy Spirit ) as one God. Movements that emerged around the time of

276-857: A RaboDirect in Germany. Rabobank has had a presence in Germany since 1984. It has operated in the field of corporate finance and has been primarily active in the food and agriculture sector in the country. Rabobank operated a direct bank in Poland, but under the Bank BGZ operation and using the name "BGZ Optima". The Polish business including BGZ Optima was subsequently sold to French bank BNP Paribas in December 2013 for around $ 1.4 billion. Rabobank has naming rights to several venues and organizations, including: The major investment banks in London report daily

368-595: A broader sense, referring to a member of any Western church which subscribed to the main Protestant principles. A Protestant is an adherent of any of those Christian bodies that separated from the Church of Rome during the Reformation, or of any group descended from them. During the Reformation, the term protestant was hardly used outside of German politics. People who were involved in the religious movement used

460-484: A consequence is directly supervised by the European Central Bank . Rooted in agriculture , Rabobank is set up as a federation of local credit unions that offer services to the local markets. The bank was rooted in the ideas of Friedrich Wilhelm Raiffeisen , the founder of the cooperative movement of credit unions, who in 1864 created the first farmers' bank in Germany. Being a countryside mayor he

552-478: A founding principle of Rabobank's cooperative style was to cooperate in the interest of "warding off the Shylock " . The cooperative bank model assured a tight bond between invested capital and the community. The bank's traditional headquarters are Utrecht and Eindhoven . In 1898, two cooperative bank conglomerates were formed: Raiffeisen-Bank was formed as a cooperative of six local banks, while Boerenleenbank

644-543: A further tightening of the bonds between the two: In 1972, the two organisations merged to form Coöperatieve Centrale Ra iffeisen- Bo erenleen bank , or Rabobank for short. The organisation chose Amsterdam to be its statutory headquarters due to its historical neutrality in relation to the founding organisations. From 1980 to 2015, the central organisation was referred to as Rabobank Nederland. In 1980, Rabobank expanded its international activities as part of its mission to finance global agriculture. In 1990, it established

736-437: A headquarters but preferred to speak of Rabobank Nederland, which was their daughter organisation. In 2016, however, the local banks merged with Rabobank Nederland, while retaining significant independence. Even before 2016, the central organisation occasionally overruled the autonomy of the local bank organisations. In accordance with Dutch regulations in the field of credit and financial services Rabobank Nederland oversees that

828-681: A joint-venture bank in Indonesia by partnering with a local bank, Bank Duta, to form RabobankDuta. Bank Duta subsequently collapsed in the 1998 Asian financial crisis, and Rabobank bought Duta's share to operate solely as PT Bank Rabobank International Indonesia. In 1994, it purchased Primary Industry Bank of Australia (PIBA), which had operations in Australia and New Zealand, and renamed it Rabobank Australia Limited in 2003. In 1997, it purchased New Zealand–based Wrightson Farmers Finance Limited and renamed it Rabobank New Zealand in 1999. Rabobank became

920-591: A less critical reading of the Bible developed in the United States—leading to a " fundamentalist " reading of Scripture. Christian fundamentalists read the Bible as the "inerrant, infallible " Word of God, as do the Catholic, Eastern Orthodox, Anglican and Lutheran churches, but interpret it in a literalist fashion without using the historical-critical method . Methodists and Anglicans differ from Lutherans and

1012-520: A lot of interest in the Netherlands at the end of the 19th century. One of the first of Raiffeisen's followers was Father Gerlacus van den Elsen, who stood at the basis of a number of local farmers' banks in the south of the Netherlands. The model caught on being championed by the clergy and the countryside elites . The mission of the farmers' lending banks was an idealistic one, but they always operated using strict business principles. Controversially,

SECTION 10

#1732790953838

1104-411: A network of local banks, Rabobank Nederland and several daughter organisations. Previously, the local Rabobanks were the mother organisation of Rabobank Nederland, their central organisation. The local banks were facilitated by Rabobank Nederland to serve their customers, not the other way around as is often the case with traditional banking organisations. Employees of the group did not routinely speak of

1196-442: A new arrangement necessary. In late 2015, on the recommendation of a specially-created Governance Committee, Rabobank's 106 cooperative banks voted unanimously to merge with Rabobank Nederland. The merger took effect on 1 January 2016. While the 106 Rabobanks still have considerable autonomy, the central organisation is now the parent body. A 2013 scandal resulted in a $ 1 billion fine for unscrupulous trading practices, which included

1288-472: A priest with possessions, such as a pope, was in such grave sin), may have translated the Bible into vernacular English , and preached anticlerical and biblically centred reforms. His rejection of a real divine presence in the elements of the Eucharist foreshadowed Huldrych Zwingli's similar ideas in the 16th century. Wycliffe's admirers came to be known as " Lollards ". Beginning in the first decade of

1380-465: A process of pillarisation (Dutch: verzuiling ), which in practice meant that members of different religious congregations and political movements essentially lived side by side, without contact between the two. A consequence of this pillarisation was that many villages hosted not one but two local banks, one each for Catholics and Protestants. The close-knit community banking that resulted helped these banks to better control their risks. Consequently, when

1472-782: A revolt erupted. Hussites defeated five continuous crusades proclaimed against them by the Pope . Later theological disputes caused a split within the Hussite movement. Utraquists maintained that both the bread and the wine should be administered to the people during the Eucharist. Another major faction were the Taborites , who opposed the Utraquists in the Battle of Lipany during the Hussite Wars . There were two separate parties among

1564-461: A risk to ecosystems, including $ 30.9 million from Rabobank. The report highlights the importance of EU regulation of the financial sector to align financing with global 1.5°C and biodiversity targets. Rabobank has received criticism because the bank was involved in financing hundreds of farmers who committed illegal deforestation in Brazil. This is contrary to the official policy as communicated by

1656-664: A settlement with the United States Department of Justice for 298 million euros. The bank did not have its internal controls in order, resulting in hundreds of millions of dollars in drug money being laundered through the American Rabobank subsidiary RNA in California. The Bankrolling Ecosystem Destruction report from a coalition of civil society organizations shows how much money is flowing from EU-based financial institutions to sectors that pose

1748-603: A significant lender to the rural sector in New Zealand with this purchase and used this as a base to expand its lending business further. In Europe, Rabobank in 1992 purchased Allgemeine Deutsche Credit-Anstalt , a German bank. In 2002, Rabobank launched a new internet only savings bank called Rabobank.be . A second online savings banks was launched in 2005 in Ireland under the name of RaboDirect , and then as RaboPlus in New Zealand and two years later in Australia. After

1840-410: A small hiatus new online banks were opened in Poland (2011) and Germany (2012). The advertising campaigns used to promote the savings business in Ireland and New Zealand raised the profile of Rabobank generally in those countries resulting in an increase in not only its savings business but also in its lending businesses. In 2010, Rabobank decided to use the same brand name in Australia and New Zealand for

1932-495: A traditional board i.e., they are expected to look out for the specific interests of the members (local banks and their certificate holders). The Raad van Toezicht was renamed to county commission and now held an independent supervisory role. The chairman of this board also presides over the Centrale Kringvergadering . The latter is the most distinguishing organ as compared to other financial institutions in

SECTION 20

#1732790953838

2024-489: A very ambivalent relationship between the two over the years. At the time of the merger there were five management instruments within Rabobank Nederland: In 2002 this structure was simplified. The Raad van Beheer was disbanded. De Hoofddirectie received an integral authority over the banking business. It was also renamed to Raad van Bestuur or board of directors . They have an added task compared to

2116-641: A whole. The English word traces its roots back to the Puritans in England, where Evangelicalism originated, and then was brought to the United States . Martin Luther always disliked the term Lutheran , preferring the term evangelical , which was derived from euangelion , a Greek word meaning "good news", i.e. " gospel ". The followers of John Calvin , Huldrych Zwingli , and other theologians linked to

2208-456: A worldwide scope and distribution of church membership , while others are confined to a single country. A majority of Protestants are members of a handful of Protestant denominational families; Adventists , Anabaptists , Anglicans/Episcopalians , Baptists , Calvinist/Reformed , Lutherans , Methodists , Moravians , Plymouth Brethren , Presbyterians , and Quakers . Nondenominational , charismatic and independent churches are also on

2300-478: Is Jovinian , who lived in the fourth century AD. He attacked monasticism , ascetism and believed that a saved believer can never be overcome by Satan. In the 9th century, the theologian Gottschalk of Orbais was condemned for heresy by the Catholic Church. Gottschalk believed that the salvation of Jesus was limited and that his redemption was only for the elect. The theology of Gottschalk anticipated

2392-540: Is a stub . You can help Misplaced Pages by expanding it . Rabobank Rabobank ( Dutch pronunciation: [ˈraːboːbɑŋk] ; full name: Coöperatieve Rabobank U.A. ) is a Dutch multinational banking and financial services company headquartered in Utrecht , Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Rabobank Nederland), and many specialised international offices and subsidiaries . Food and agribusiness constitute

2484-447: Is the guiding principle of the work of Luther and the later reformers. Because sola scriptura placed the Bible as the only source of teaching, sola fide epitomizes the main thrust of the teaching the reformers wanted to get back to, namely the direct, close, personal connection between Christ and the believer, hence the reformers' contention that their work was Christocentric. The other solas, as statements, emerged later, but

2576-504: Is the third-largest retail bank by market share, and second largest by number of current accounts at 30%. ING Group is the largest with 40% of current accounts, followed by Rabobank (30%), ABN AMRO (20%), and others (10%). The Rabobank Group currently consists of the following divisions: RaboDirect , formerly RaboPlus in some locations is the brand name for online-only services offered by Rabobank. RaboDirect operates in Belgium,

2668-467: Is therefore faith alone which justifies, and yet the faith which justifies is not alone: just as it is the heat alone of the sun which warms the earth, and yet in the sun it is not alone." Lutheran and Reformed Christians differ from Methodists in their understanding of this doctrine. The universal priesthood of believers implies the right and duty of the Christian laity not only to read the Bible in

2760-705: The Catholic Church . On 31 October 1517, known as All Hallows' Eve , Martin Luther allegedly nailed his Ninety-five Theses , also known as the Disputation on the Power of Indulgences, on the door of the All Saints' Church in Wittenberg , Germany, detailing doctrinal and practical abuses of the Catholic Church, especially the selling of indulgences . The theses debated and criticized many aspects of

2852-547: The Church of England from the Roman Catholic Church under King Henry VIII began Anglicanism , bringing England and Wales into this broad Reformation movement, under the leadership of reformer Thomas Cranmer , whose work forged Anglican doctrine and identity. Protestantism is diverse, being divided into various denominations on the basis of theology and ecclesiology , not forming a single structure as with

Friesland Bank - Misplaced Pages Continue

2944-598: The Holy Roman Empire and rulers of fourteen Imperial Free Cities , who issued a protest (or dissent) against the edict of the Diet of Speyer (1529) , were the first individuals to be called Protestants. The edict reversed concessions made to the Lutherans with the approval of Holy Roman Emperor Charles V three years earlier . The term protestant , though initially purely political in nature, later acquired

3036-547: The Holy Spirit and personal closeness to God. The belief that believers are justified , or pardoned for sin, solely on condition of faith in Christ rather than a combination of faith and good works . For Protestants, good works are a necessary consequence rather than cause of justification. However, while justification is by faith alone, there is the position that faith is not nuda fides . John Calvin explained that "it

3128-521: The Protestant Reformation and summarize the reformers' basic differences in theological beliefs in opposition to the teaching of the Catholic Church of the day. The Latin word sola means "alone", "only", or "single". The use of the phrases as summaries of teaching emerged over time during the Reformation, based on the overarching Lutheran and Reformed principle of sola scriptura (by scripture alone). This idea contains

3220-464: The Reformed tradition also began to use that term. To distinguish the two evangelical groups, others began to refer to the two groups as Evangelical Lutheran and Evangelical Reformed . The word also pertains in the same way to some other mainline groups, for example Evangelical Methodist . As time passed by, the word evangelical was dropped. Lutherans themselves began to use the term Lutheran in

3312-996: The Unitas Fratrum —"Unity of the Brethren"—which was renewed under the leadership of Count Nicolaus von Zinzendorf in Herrnhut , Saxony , in 1722 after its almost total destruction in the Thirty Years' War and the Counterreformation ("Catholic Reformation") . Today, it is usually referred to in English as the Moravian Church and in German as the Herrnhuter Brüdergemeine . In the 15th century, three German theologians anticipated

3404-607: The letter of protestation from German Lutheran princes in 1529 against an edict of the Diet of Speyer condemning the teachings of Martin Luther as heretical . In the 16th century , Lutheranism spread from Germany into Denmark–Norway , Sweden , Finland , Livonia , and Iceland . Calvinist churches spread in Germany, Hungary , the Netherlands , Scotland , Switzerland , France , Poland , and Lithuania by Protestant Reformers such as John Calvin , Huldrych Zwingli and John Knox . The political separation of

3496-410: The vernacular , but also to take part in the government and all the public affairs of the Church. It is opposed to the hierarchical system which puts the essence and authority of the Church in an exclusive priesthood, and which makes ordained priests the necessary mediators between God and the people. It is distinguished from the concept of the priesthood of all believers, which did not grant individuals

3588-512: The 15th century, Jan Hus —a Catholic priest, Czech reformist and professor—influenced by John Wycliffe's writings, founded the Hussite movement. He strongly advocated his reformist Bohemian religious denomination. He was excommunicated and burned at the stake in Constance , Bishopric of Constance , in 1415 by secular authorities for unrepentant and persistent heresy. After his execution,

3680-607: The Bible as the highest source of authority for the church. The early churches of the Reformation believed in a critical, yet serious, reading of scripture and holding the Bible as a source of authority higher than that of church tradition . The many abuses that had occurred in the Western Church before the Protestant Reformation led the Reformers to reject much of its tradition. In the early 20th century,

3772-869: The Catholic Church, Eastern Orthodoxy or Oriental Orthodoxy . Protestants adhere to the concept of an invisible church , in contrast to the Catholic, the Eastern Orthodox Church, the Oriental Orthodox Churches, the Assyrian Church of the East , and the Ancient Church of the East , which all understand themselves as the one and only original church—the " one true church "—founded by Jesus Christ (though certain Protestant denominations, including historic Lutheranism, hold to this position). Some denominations do have

Friesland Bank - Misplaced Pages Continue

3864-601: The Catholic Church. By 1215, the Waldensians were declared heretical and subject to persecution. Despite that, the movement continues to exist to this day in Italy, as a part of the wider Reformed tradition . In the 1370s, Oxford theologian and priest John Wycliffe —later dubbed the "Morning Star of Reformation"—started his activity as an English reformer. He rejected papal authority over secular power (in that any person in mortal sin lost their authority and should be resisted:

3956-470: The Church and the papacy, including the practice of purgatory , particular judgment , and the authority of the pope. Luther would later write works against the Catholic devotion to Virgin Mary , the intercession of and devotion to the saints, mandatory clerical celibacy, monasticism, the authority of the pope, the ecclesiastical law, censure and excommunication , the role of secular rulers in religious matters,

4048-475: The Dutch banking sector was devastated by a financial crisis in the early 1920s, these local banks survived largely unscathed. The religious backgrounds found their way to their organisational structures, as well; Boerenleenbank was highly centralised, while Raiffeisen-Bank promoted local autonomy . By 1940, the two organisations cooperated with each other, albeit on a limited scale. Three major developments caused

4140-534: The Hussites: moderate and radical movements. Other smaller regional Hussite branches in Bohemia included Adamites , Orebites , Orphans , and Praguers. The Hussite Wars concluded with the victory of Holy Roman Emperor Sigismund , his Catholic allies and moderate Hussites and the defeat of the radical Hussites. Tensions arose as the Thirty Years' War reached Bohemia in 1620. Both moderate and radical Hussitism

4232-949: The Japanese Financial Services Authority (JFSA). This is in connection with their investigations into Rabobank's submission procedures with regard to the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate ( Euribor ) in the past. Rabobank agreed to pay settlement amounts to OM, FCA, CFTC and DOJ totalling approximately EUR 774 million. Of this, 70 million euros went to the Dutch Public Prosecution Service. In return, no criminal investigation followed. The Dutch Central Bank also took measures. CEO Piet Moerland resigned early. In February 2018, Rabobank reached

4324-632: The Mechanics name. Rabobank will continue to do business in North America related to Food and Agriculture based-lending under its subsidiary Rabo AgriFinance. In June 2012, rating agency Moody's downgraded Rabobank's to Aa2 (previously Aaa), with a negative outlook. Due to a new rating methodology in November 2011 by rating agency Standard & Poor's , the credit status was downgraded two steps from AAA to AA. In November 2014, S&P lowered

4416-410: The Netherlands and abroad. Rabobank is traditionally a farmers' bank and it still holds an 85% to 90% market share in the agrarian sector in the Netherlands. Throughout the years, the company has also started targeting small and medium-sized companies. By the mid 1970s the market share in this sector reached some 30% and currently amounts to approximately 40%. In 1987, an important milestone was reached;

4508-706: The Protestant Reformation, but are not a part of Protestantism (e.g. Unitarianism ), reject the Trinity . This often serves as a reason for exclusion of the Unitarian Universalism , Oneness Pentecostalism , and other movements from Protestantism by various observers. Unitarianism continues to have a presence mainly in Transylvania , England, and the United States. The Five solae are five Latin phrases (or slogans) that emerged during

4600-418: The Protestant reformation. Ratramnus also defended the theology of Gottschalk and denied the real presence of Christ in the Eucharist; his writings also influenced the later Protestant reformation. Claudius of Turin in the 9th century also held Protestant ideas, such as faith alone and rejection of the supremacy of Peter. In the late 1130s, Arnold of Brescia , an Italian canon regular became one of

4692-407: The Reformation and put heavy stress of holiness and piety, Starting in 1475, an Italian Dominican friar Girolamo Savonarola was calling for a Christian renewal. Later on, Martin Luther himself read some of the friar's writings and praised him as a martyr and forerunner whose ideas on faith and grace anticipated Luther's own doctrine of justification by faith alone. Some of Hus' followers founded

SECTION 50

#1732790953838

4784-651: The Reformed on this doctrine as they teach prima scriptura , which holds that Scripture is the primary source for Christian doctrine, but that "tradition, experience, and reason" can nurture the Christian religion as long as they are in harmony with the Bible ( Protestant canon ). "Biblical Christianity" focused on a deep study of the Bible is characteristic of most Protestants as opposed to "Church Christianity", focused on performing rituals and good works, represented by Catholic and Orthodox traditions. However, Quakers , Pentecostalists and Spiritual Christians emphasize

4876-448: The Republic of Ireland, Australia, New Zealand and Germany offering savings accounts , term deposits and managed funds . In Belgium it is known as Rabobank.be. RaboDirect Ireland was an online savings bank. In 2009, RaboDirect ran the marketing campaign that included TV commercials which featured staff confessing truths about themselves, and a microsite called Truthbank where customers could "confess" their own truths. RaboDirect

4968-509: The acquisition of Mid-State Bank & Trust on May 1, 2007, which allows Rabo to expand its services to the Central Coast region of California , United States. In 2010, it also acquired Pacific State Bank, expanding into the Central Valley of California . Utrecht-America Holdings, Inc. and Rabobank N.A. operate as subsidiaries of the Rabobank Group in the United States. In 2019, it was announced that Rabobank sold its American retail business to Mechanics Bank , with all Rabobank branches taking

5060-410: The bank. Research links Rabobank's investments to the loss of approximately 390,000 ha of Amazon or Cerrado forest (2000–2022). Rabobank has been placed on the list of major polluters of the Dutch NGO Milieudefensie because the bank would have invested more than 1.4 billion euros in companies involved in deforestation in the period from 2015 to 2022. Rabobank states that it wants to contribute to

5152-404: The body, blood, soul, and divinity of Christ. They disagreed with one another concerning the presence of Christ and his body and blood in Holy Communion. Protestants reject the Catholic doctrine of papal supremacy , and have variant views on the number of sacraments , the real presence of Christ in the Eucharist , and matters of ecclesiastical polity and apostolic succession . Many of

5244-549: The church as a body works), they had a different understanding of the process in which truths in scripture were applied to life of believers, compared to the Catholics' idea that certain people within the church, or ideas that were old enough, had a special status in giving understanding of the text. The second main principle, sola fide (by faith alone), states that faith in Christ is sufficient alone for eternal salvation and justification. Though argued from scripture, and hence logically consequent to sola scriptura , this

5336-428: The excommunication of Luther and condemnation of the Reformation by the Pope, the work and writings of John Calvin were influential in establishing a loose consensus among various groups in Switzerland, Scotland, Hungary, Germany and elsewhere. After the expulsion of its Bishop in 1526, and the unsuccessful attempts of the Bern reformer William Farel , Calvin was asked to use the organizational skill he had gathered as

5428-429: The first theologians to attempt to reform the Catholic Church. After his death, his teachings on apostolic poverty gained currency among Arnoldists , and later more widely among Waldensians and the Spiritual Franciscans , though no written word of his has survived the official condemnation. In the early 1170s, Peter Waldo founded the Waldensians. He advocated an interpretation of the Gospel that led to conflicts with

5520-447: The first two participants, settling for $ 460 million and $ 1,500 million respectively. RBS was fined $ 612 million. On 29 october 2013 was published that the Rabobank had reached an agreement with De Nederlandsche Bank (DNB), the Dutch Justice Department (OM), the Financial Conduct Authority (FCA) in the United Kingdom, the Commodity Futures Trading Commission (CFTC) in the United States, the United States Department of Justice (DOJ) and

5612-434: The four main doctrines on the Bible: that its teaching is needed for salvation (necessity); that all the doctrine necessary for salvation comes from the Bible alone (sufficiency); that everything taught in the Bible is correct (inerrancy); and that, by the Holy Spirit overcoming sin, believers may read and understand truth from the Bible itself, though understanding is difficult, so the means used to guide individual believers to

SECTION 60

#1732790953838

5704-426: The goal of reforming the Catholic Church from perceived errors, abuses, and discrepancies . The Reformation began in the Holy Roman Empire in 1517, when Martin Luther published his Ninety-five Theses as a reaction against abuses in the sale of indulgences by the Catholic Church, which purported to offer the remission of the temporal punishment of sins to their purchasers. The term, however, derives from

5796-414: The individual ideas that were taken up by various reformers had historical pre-cursors; however, calling them proto-reformers is controversial, as often their theology also had components that are not associated with later Protestants, or that were asserted by some Protestants but denied by others, or that were only superficially similar. One of the earliest persons to be praised as a Protestant forerunner

5888-433: The interest on short-term loans that they charge each other. This concerns short-term interest periods from 1 day to 1 year. When it emerged that some banks had deliberately stated this interest rate too high or too low since 1991, the Libor scandal was born. Because the Libor interest rate is also used in the United States to calculate the price of derivatives, American regulators also took action. Barclays and UBS were

5980-441: The local banks maintain a required level of prudence and professionalism while selling financial products. This has grown to be especially important in view of international standards such as Sarbanes–Oxley Act , Basel II and IFRS . This leads to a rather unusual phenomenon within international business: the mother companies and the much larger daughter are essentially forced to coexist in order to function properly. This has led to

6072-406: The manipulation of LIBOR currency rates worldwide. Chief Executive Piet Moerland resigned immediately as a result. In December 2015, Rabobank announced to cut 9,000 jobs by 2018 (3,000 jobs by the end of 2016) and almost a fifth of its current workforce. The policy was to comply with the tougher Basel IV rulebook. By 2019, Rabobank had offices in 38 countries. The Rabobank Group consists of

6164-495: The middle of the 16th century, in order to distinguish themselves from other groups such as the Philippists and Calvinists . The German word reformatorisch , which roughly translates to English as "reformational" or "reforming", is used as an alternative for evangelisch in German, and is different from English reformed ( German : reformiert ), which refers to churches shaped by ideas of John Calvin , Huldrych Zwingli , and other Reformed theologians. Derived from

6256-458: The negative consequences of mass livestock farming and economies of scale. Extinction Rebellion and Greenpeace issued an ultimatum to Rabobank in 2023 to stop financing industrial agriculture, to which the bank did not respond. A mass protest followed in which activists blocked the head office in Utrecht. Protestantism Protestantism is a branch of Christianity that emphasizes justification of sinners through faith alone ,

6348-475: The nitrogen crisis. The bank refused loans to projects with alternative agricultural methods, which led to forced expansion of Dutch livestock farms. Only about 3% of the outstanding 30 billion in the agricultural sector belongs to organically operating companies, farmers receive little or no support in the transition to more sustainable agriculture and livestock farming. Rabobank still invests in expensive techniques, not in solving but in technically mitigating

6440-483: The northern Netherlands in the 1990s. In 2011, the bank was in dire straits, suffering a loss of € 350 million, partly as a result of an extra write-down on the interest in Van Lanschot and loan losses. Van Lanschot's planned sales plans were not realised. The solvency ratios fell below the established standards. The BIS ratio fell to 6.1%, which is far below the standard of 8% and the Tier1 ratio more than halved to 4.2%. This Dutch bank or insurance-related article

6532-483: The positive publicity from Rabobank, there is criticism from society about its role in the Dutch nitrogen crisis. For example, the World Wildlife Fund (NL) wrote in an open letter that Rabobank must take its responsibility in realizing an agricultural transition to improve nature, the living environment and the agricultural sector. The House of Representatives asked the cabinet in a motion to investigate whether banks such as Rabobank could be forced to contribute to solving

6624-537: The primary international focus of the Rabobank Group. Rabobank is the second-largest bank in the Netherlands in terms of total assets. In terms of Tier 1 capital , the organisation is among the 50 largest financial institutions in the world. As of 2022, total assets amount to €628 billion with a net profit of €2.7 billion. Rabobank has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as

6716-437: The rating from AA− to A+ with a negative outlook. Rating agency Fitch rates the credit status of the bank AA−, with a negative outlook. As per the new strategy, Rabobank is planning to exit some markets. In September 2014, Rabobank sold Bank BGZ to BNP Paribas for $ 1.39 billion. Unlike most major banks, Rabobank's central organisation was originally a subsidiary of the local branches. However, new banking regulations made

6808-799: The reformation: Wessel Gansfort , Johann Ruchat von Wesel , and Johannes von Goch . They held ideas such as predestination , sola scriptura , and the church invisible , and denied the Roman Catholic view on justification and the authority of the Pope, also questioning monasticism . Wessel Gansfort also denied transubstantiation and anticipated the Lutheran view of justification by faith alone. Electors of Saxony Holy Roman Emperors Building Literature Theater Liturgies Hymnals Monuments Calendrical commemoration The Protestant Reformation began as an attempt to reform

6900-452: The relationship between Christianity and the law, good works, and the sacraments. The Reformation was a triumph of literacy and the new printing press invented by Johannes Gutenberg . Luther's translation of the Bible into German was a decisive moment in the spread of literacy, and stimulated as well the printing and distribution of religious books and pamphlets. From 1517 onward, religious pamphlets flooded much of Europe. Following

6992-410: The right to interpret the Bible apart from the Christian community at large because universal priesthood opened the door to such a possibility. There are scholars who cite that this doctrine tends to subsume all distinctions in the church under a single spiritual entity. Calvin referred to the universal priesthood as an expression of the relation between the believer and his God, including the freedom of

7084-421: The rise, having recently expanded rapidly throughout much of the world, and constitute a significant part of Protestantism. These various movements, collectively labeled "popular Protestantism" by scholars such as Peter L. Berger , have been called one of the contemporary world's most dynamic religious movements. As of 2024 , Protestantism has a total of approximately 625 million followers. Six princes of

7176-414: The savings bank and replaced RaboPlus with RaboDirect in these countries. In 2014, Rabobank worked with Vasco, now OneSpan , to create a new online authentication system using QR codes. Rabobank purchased Australian company Lend Lease Agro Business in 2003. In 2008, it expanded its operations in Indonesia by buying two retail banks, Bank Haga and Bank Hagakita. In the United States , Rabobank completed

7268-549: The sustainable development of society in an economic, social and ecological sense. This is enshrined, among other things, in the Code of Conduct and in general external and internal principles for the provision of services. Corporate social responsibility is a basic principle in Rabobank's core activities. Rabobank continues to finance global meat and dairy corporations and thus drives climate change and deforestation. In contrast to

7360-460: The teaching that salvation comes by unmerited divine grace , the priesthood of all believers , and the Bible as the sole infallible source of authority for Christian faith and practice. The five solae summarize the basic theological beliefs of mainstream Protestantism. Protestants follow the theological tenets of the Protestant Reformation , a movement that began in the 16th century with

7452-605: The term is used by Protestant bodies in the German-speaking area , such as the Protestant Church in Germany . Thus, the German word evangelisch means Protestant, while the German evangelikal , refers to churches shaped by Evangelicalism . The English word evangelical usually refers to evangelical Protestant churches, and therefore to a certain part of Protestantism rather than to Protestantism as

7544-566: The thinking they represent was also part of the early Reformation. The Protestant movement began to diverge into several distinct branches in the mid-to-late 16th century. One of the central points of divergence was controversy over the Eucharist . Early Protestants rejected the Catholic dogma of transubstantiation , which teaches that the bread and wine used in the sacrificial rite of the Mass lose their natural substance by being transformed into

7636-418: The total outstanding loans in sectors other than agriculture exceeded those in the agricultural sector for the first time. By 2005 the agricultural credits amounted to some 8% of total outstanding credit. Rabobank also holds some 40% of the total outstanding sums on Dutch savings accounts and they account for approximately 30% of all private consumer mortgages in the Netherlands. In the Netherlands, Rabobank

7728-515: The true teaching is often mutual discussion within the church (clarity). The necessity and inerrancy were well-established ideas, garnering little criticism, though they later came under debate from outside during the Enlightenment . The most contentious idea at the time though was the notion that anyone could simply pick up the Bible and learn enough to gain salvation. Though the reformers were concerned with ecclesiology (the doctrine of how

7820-583: The word evangelical ( German : evangelisch ). For further details, see the section below. Gradually, protestant became a general term, meaning any adherent of the Reformation in the German-speaking area. It was ultimately somewhat taken up by Lutherans, even though Martin Luther himself insisted on Christian or evangelical as the only acceptable names for individuals who professed faith in Christ. French and Swiss Protestants instead preferred

7912-589: The word reformed ( French : réformé ), which became a popular, neutral, and alternative name for Calvinists. The word evangelical ( German : evangelisch ), which refers to the gospel , was widely used for those involved in the religious movement in the German-speaking area beginning in 1517. Evangelical is still preferred among some of the historical Protestant denominations in the Lutheran, Calvinist, and United (Lutheran and Reformed) Protestant traditions in Europe, and those with strong ties to them. Above all

8004-472: The word "Reformation", the term emerged around the same time as Evangelical (1517) and Protestant (1529). Many experts have proposed criteria to determine whether a Christian denomination should be considered part of Protestantism. A common consensus approved by most of them is that if a Christian denomination is to be considered Protestant, it must acknowledge the following three fundamental principles of Protestantism. The belief, emphasized by Luther, in

8096-479: Was a cooperative of 22 local banks. These two existed side by side for three-quarters of a century despite their obvious similarities. The reasons for this owed in part to legal disagreements. The most important difference, however, was cultural. The Eindhoven-based Boerenleenbank had a decidedly Catholic signature while the Raiffeisen-Bank had a Protestant background. In the past the Netherlands underwent

8188-518: Was confronted with the abject poverty of the farmers and their families. He tried to alleviate this need through charitable aid , but realised that self-reliance had more potential in the long run, and thus converted his charitable foundation into a farmers' bank in 1864. In doing so he created the Darlehnskassen-Verein , which collected the savings of countryside dwellers and provided enterprising farmers with loans. This model found

8280-470: Was increasingly persecuted by Catholics and Holy Roman Emperor's armies. In the 14th century, a German mysticist group called the Gottesfreunde criticized the Catholic church and its corruption. Many of their leaders were executed for attacking the Catholic church and they believed that God's judgement would soon come upon the church. The Gottesfreunde were a democratic lay movement and forerunner of

8372-650: Was launched in February 2006 and was at the time only bank in New Zealand whose parent company was rated AAA by Standard & Poor's (the credit rating has since been downgraded and as of October 2015 is A). On 23 May 2007, Rabobank opened a RaboPlus Internet bank in Australia. On 20 May 2010, the services were rebranded to RaboDirect. RaboDirect is the major partner of the Melbourne Rebels Super Rugby side. By 2011 over $ 6 billion had been gathered in deposits. On 20 June 2012, Rabobank opened

8464-543: Was the sponsor of rugby union 's Pro12 from the 2011-12 season until 2013–14 , it featured teams from Ireland, Italy, Scotland and Wales. The deal was announced in June 2011, during which time the league was known as the RaboDirect Pro12. On 21 February RaboDirect announced that it would be closing down its Irish operations from 16 May 2018, with the loss of 31 jobs. RaboDirect, originally known as RaboPlus,

#837162