€46m profit for Rabo agri arm

The agri-business lending subsidiary of the Dutch Rabobank group, Rabo-bank Ireland PLC, has reported a profit of €46m in its annual report for 2012.

Rabobank Ireland CEO Kevin Knightly said the Irish banking environment was still difficult but that he was happy with the bank’s performance.

“The environment continues to be challenging in Ireland and in the wider eurozone, but overall we are pleased with our progress, and in particular with our strengthening position in the food and agribusiness sector, which forms such an important part of the Irish economy,” he said.