(28 May 2007 – Australia) Agribusiness and food specialist Rabobank is targeting the retail banking markets in Australia.The bank has launched RaboPlus, a product offering access to high interest savings, term deposits and wholesale managed funds via a single online platform.
Rabobank Australia & New Zealand CEO Bruce Dick said expansion into the online retail banking market in Australia was a logical progression for Rabobank.
He said the bank was committed to the food and agribusiness sector but the new DIY online service would broaden the bank’s activities into the mainstream market.
“The launch of RaboPlus is part of an ongoing move to build on the Rabobank Group’s global strengths in online banking and make them available to local consumers,” he said.
The bank launched a similar product in New Zealand last year which has already attracted more than NZ$1.20 billion (A$1 billion) in deposits and in excess of 26,000 customers.