Rabobank (Dutch pronunciation: ['ra?bo?b??k]; full name: Coöperatieve Rabobank U.A.) is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. It is a global leader in food and agriculture financing and sustainability-oriented banking. The group comprises 129 independent local Dutch Rabobanks (2013), a central organization (Rabobank Nederland), and a large number of specialized international offices and subsidiaries. Food and agribusiness is the prime international focus of the Rabobank Group. Rabobank is the second-largest bank in the Netherlands in terms of total assets. A 2013 scandal resulted in a $1 billion fine for unscrupulous trading practices, including the manipulation of LIBOR currency rates worldwide. Chief Executive Piet Moerland resigned immediately as a result. In terms of Tier 1 capital, the organisation is among the 30 largest financial institutions in the world. As of December 2014, total assets amount to €681 billion with a net profit of €1.8 billion. Global Finance ranks Rabobank 25th in its survey of "the worlds safest banks".