Rabobank New Zealand is striding into Wanganui with local man Carl Gibson at the helm, keen to make an impact on the region's rural banking market.
Mr Gibson, who is Wanganui bred, is joined by Wanganui woman Sue Wilkes and Feilding Rabobank representatives Rebecca Laurence and Kevin Bydde in this new
venture.
Mr Gibson, who has worked in the industry for 22 years and is the brother of Hayden Gibson who runs Mitre 10 Mega, is happy to be working again in Wanganui, where he lives with his wife and two children.
"I was approached about the venture and accepted happily. Now I don't have to commute to work, which is great, and I'm very keen to be involved in the interesting mix of agricultural banking that Wanganui offers."
Ben Russen, general manager of Rabobank Rural New Zealand, says the banking group is enthusiastic about the long-term prospects for New Zealand's food and agribusiness sector
He said that, despite the market's short-term volatility in the Wanganui region, the long-term prospects for the food and agribusiness sector in the region look very strong.
This made Wanganui an attractive site for a new base he said, the 31st branch nationwide.
Rabobank New Zealand, a subsidiary of Dutch co-operative Rabobank Nederland, operates in four core businesses, with a primary focus on the food and agribusiness sector; offering rural financial services, food and agribusiness banking, corporate finance services and their Rabodirect system.
The bank acquired the Primary Industry Bank of Australia (PIBA) in New Zealand in 1994, purchased Wrightson Farmers finance in 1998, and has continued to expand and develop its New Zealand operations since.
Over recent years the bank has experienced strong business growth, currently holding a 15 per cent market share in the rural lending market.
Keen to continue this growth, Rabobank is recruiting more rural banking staff, and actively looking to lend money to potential farm buyers.
Both Mr Russen and Mr Gibson are positive about the branch opening, which they say emphasises the excellent position the bank is in to continue its expansion strategy in the rural lending and food and agribusiness markets.
