It took Rabobank a decade before deciding to expand into Canadian farm lending, taking a methodical approach, Lieverse said.
Rabobank did not release its estimate of the value of the Canadian farm lending market, but government agency Statistics Canada pegged 2021 farm debt at a record-high C$129 billion , with chartered banks accounting for 37%. On that basis, Rabobank's market-share goal could be worth C$19 billion, although farm debt is steadily rising.
Rabobank will initially focus on farm lending in the Prairie provinces of Manitoba, Saskatchewan and Alberta, offering loans for land and equipment purchases, operations and sustainable initiatives, such as installing biodigesters to produce renewable natural gas. Rabobank operates in 38 countries, with 74.2 billion euros' worth of loans to the global food and agriculture sector.
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