Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3
in millions of euros 2016 2015
Total loans and advances to customers
452,807
465,993
Of which:
government clients
3,329
3,372
reverse repurchase transactions and securities borrowing
16,321
19,737
interest rate hedges (hedge accounting)
8,606
8,957
Loans to private sector clients 424,551 433,927
This can be broken down geographically as follows:
The Netherlands
304,723
72%
321,798
74%
Rest of Europe
28,895
7%
27,185
6%
North America
45,985
11%
42,241
10%
Latin America
13,680
3%
12,741
3%
Asia
9,624
2%
9,502
2%
Australia
21,315
5%
20,116
5%
Africa
329
0%
344
0%
Total 424,551 100% 433,927 100%
Breakdown of loans by business sector
Private individuals
201,234
47%
207,834
48%
Trade, industry and services (TIS)
121,336
29%
127,690
29%
Food &agri
101,981
24%
98,403
23%
Total 424,551 100% 433,927 100%
Trade, industry and services loan portfolio analysed by industry
in millions of euros
2016
2015
Lessors of real estate
20,670
24,082
Finance and insurance (except banks)
12,291
16,672
Wholesale
12,747
11,691
Activities related to real estate
5,340
5,221
Manufacturing
9,180
8,116
Transport and warehousing
6,729
7,421
Construction
5,014
5,792
Healthcare and social assistance
6,069
6,062
Professional, scientific and technical services
10,065
9,941
Retail (non-food)
4,520
4,657
Utilities
2,896
3,017
Information and communication
981
900
Arts, entertainment and leisure
1,164
1,441
Other TIS
23,670
22,677
Total loans granted to TIS
121,336
127,690
Food agri loan portfolio analysed by sector
in millions of euros
2016
2015
Grain and oil seeds
19,540
18,735
Animal protein
15,728
16,261
Dairy
22,713
22,174
Fruit and vegetables
10,628
10,932
Farm inputs
10,061
8,085
Food retail
4,527
3,926
Beverages
3,852
2,685
Flowers
1,682
1,732
Sugar
2,811
2,671
Miscellaneous crop farming
1,194
2,071
Other food agri
9,245
9,131
Total loans granted to food agri
101,981
98,403
4.3.2 Derivatives
Rabobank sets strict limits for open positions, in amounts as
well as in terms. If ISDA (International Swaps and Derivatives
Association) standards apply or a master agreement including
equivalent terms has been concluded with the counterparty,
and if the jurisdiction of the counterparty permits offsetting,
the net open position is monitored and reported.This credit
risk is managed as part of the general lending limits for clients.
Where needed, Rabobank obtains collateral or other safeguards
to mitigate credit risks inherent in these transactions. The credit
risk exposure represents the current fair value of all open
derivative contracts showing a positive market value, taking
into account master netting agreements enforceable under law.
4.3.3 Collateral and credit management
Rabobank's credit risk exposure is partly mitigated by obtaining
collateral where necessary. The amount and nature of the
collateral required depends partly on the assessment of the
credit risk of the loan to the counterparty. Rabobank has
guidelines in place for the purpose of accepting and valuing
different types of collateral. The major types of collateral are:
Residential mortgage collateral;
Mortgage collateral on immovable property, pledges on
movable property, inventories and receivables, mainly for
business loans;
Cash and securities, mainly for securities lending activities
and reverse repurchase transactions.
194 Rabobank Jaarverslag 2016