Opting in to the Government Guarantee Scheme

The bank now awaits approval of its application, which The Reserve Bank says "may take some days" as they work through the finer details of the scheme.

"Financial security is of paramount concern to New Zealand banking customers and people want to know their money is safe. RaboPlus is a division of the only bank in New Zealand, Rabobank, to hold Triple A credit ratings from both Standard & Poor's and Moody's. The bank has a long history of conservative banking practice and we welcome a scheme that seeks to provide additional assurance to our customers and complements the stability and security that RaboPlus affords," says RaboPlus
General Manager Mike Heath.

• RaboPlus is the online savings and investment service of leading food and agribusiness Rabobank.

• Rabobank is the only bank in New Zealand with Triple A credit ratings from both Standard & Poor's (AAA) and Moody's Investor Service (Aaa), and has held these Triple A ratings for more than 25 years.

• Deposits with Rabobank New Zealand also enjoy a guarantee from its group parent company Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland).

• Parent company Rabobank Nederland is based in the Netherlands and operates with a very conservative approach to risk and credit management, employing prudent banking practices throughout its 110-year history.

• As a privately-held cooperative, Rabobank Nederland does not have public shareholders and operates its business with a long-term view taking into account the best interests of the bank,its members and its clients. It does not distribute dividends on shares or profits to external parties; instead, Rabobank Nederland's profits are retained in the business to be reinvested in the strength of the bank, growth of the business and further servicing of its customers.

Download Opting in to the Government Guarantee Scheme [PDF, 39Kb]