Personnel and personal notes
The rapid growth of our business activities made high demands
on our organisation in 1977. A considerable increase in the
number of staff and adaptation of our organisation became
necessary. The number of employees grew from 248 at the end
of 1976 to 286 at the end of December of the year under report.
However, our policy is primarily aimed at absorbing the growth
of our activities in 1978 by an additional improvement in
efficiency rather than by increasing the number of staff. In this
connection it was decided in 1977 to purchase a more advanced
computer system, which will become operational in the first half
of 1978. The rapidly growing organisation gave rise to
accommodation problems notably at our head office at
Amsterdam. As long as no definitive solutions have been found,
we shall have to meet the space problems by spreading our
organisation over a number of premises in the Amsterdam city-
centre. Thus, in the course of 1977, an office building was rented
at 468 Herengracht. We are aiming at making final decisions
about our long-term accommodation during the coming year.
Per 1st January 1977 Messrs. G. Boer and L.J.ten Haaf were
appointed manager of our Utrecht office and our Enschede office,
respectively. In the course of the year Messrs. H. A. Kunkeler and
S.H. Buitendijk, manager and deputy manager, respectively, of
our real estate department, left our service.
In cooperation with the Staff Council we succeeded in carrying
through a number of important measures in the social field in
1977. In the annual social report this is dwelt upon in detail.
We wish to express our appreciation of the constructive way
in which we could bring about with the Staff Council further
improvements in the social climate in our bank.
Financial report and operating income
In accordance with the expectation expressed in our semi-annual
report we closed the financial year 1977 with a result that was
considerably higher than that of the previous year. The gross
result of the Group rose by 61 to 81,6 million (in 1976
50,6 million). The finance business, the real estate sector and
the other diversifications equally contributed to this improvement.
1977 1976
FGH and affiliated banks
Real estate companies and
other diversifications
f 60.900.000 f 39.500.000
20.700.000 11.100.000
Group total
81.600.000 f 50.600.000
The strong increase in the mortgage portfolio already recorded
earlier in this report resulted in an interest and commission in
come of f 81 million, which means an increase of 43 over the
previous year. The rise in expenses by f 4,4 million to f 21,4
million relates for a considerable part to an increase in salaries and
other staff costs, which is the result of the rapid growth in our
business activities.
