48 Main subsidiaries
Inhoudsopgave Voorwoord Bestuursverslag Corporate governance
Consolidated Financial Statements Company Financial Statements Pillar 3
The loans, advances and guarantees of the members of the
Executive Board in office and the average interest rates were
as follows:
At year-end 2016, the members of the Supervisory Board not
listed in the table had not received any loans, advances or
guarantees. These transactions with members of the Executive
Board and Supervisory Board were completed in person on
the basis of employee terms and conditions and/or market
rates for the Supervisory Board. The rates depend in part on
the currency, the agreed fixed-interest period and the time the
transaction was completed or the time a new fixed-interest
term becomes effective.
Several members of the Supervisory Board have invested in
Rabobank Certificates in person and/or through their own
pension B.V. At year-end 2016, this involved in total 15,780
certificates.
At the year-end 2016, Rabobank Group is comprised of
Coöperatieve Rabobank U.A. and its consolidated subsidiaries in
the Netherlands and abroad.
On 31 December 2016 Share Voting rights
Main subsidiaries
The Netherlands
DLL International B.V. 100% 100%
Rabo Vastgoedgroep N.V. 100% 100%
FGH Bank N.V. 100% 100%
Obvion N.V. 100% 100%
Rabohypotheekbank N.V. 100% 100%
North America
Rabobank Capital Funding LCC III 100% 100%
Rabobank Capital Funding Trust IV 100% 100%
Utrecht America Holdings Inc. 100% 100%
Australia and New Zealand
Rabobank Australia Limited 100% 100%
Rabobank New Zealand Limited 100% 100%
All subsidiaries listed in the table are consolidated. In 2016,
none of the subsidiaries experienced any significant restrictions
in the payment of dividends or the redemption of loans and
repayment of advances. The option of subsidiaries to pay
dividend to Rabobank depends on various factors, including
local regulatory requirements, statutory reserves and financial
performance.
Rabobank will not consolidate several structured entities
in the 'Wholesale banking and international retail banking
business', even if it does retain more than half of the voting
rights.These structured entities are not consolidated because
the relevant activities are managed by a third party subject to
a contract.
Rabobank does have control over several entities in the
segment 'Leasing' as part of its vendor leasing operations, even
though it retains less than half of the voting rights because
control is not determined based on such rights, but rather on
management participation.
Number of
Rabobank Certificates
On 31 December 2016
I.P. Asscher-Vonk 6,894
L.N. Degle 4,836 in pension B.V.
S.L.J. Graafsma 4,050 in pension B.V.
in millions of euros
Loans, advances and guarantees
B.C. Brouwers
R.J. Dekker
B.J. Marttin
H. Nagel
J.L. van Nieuwenhuizen
in millions of euros
Loans, advances and guarantees
R.J. Dekker
B.J. Marttin
H. Nagel
J.L. van Nieuwenhuizen
Outstanding Average interest
loans rate (in
0.5
1.0
0.4
1.0
1.2
2.6
2.1
5.8
2.2
2.0
2015
Outstanding Average interest
loans rate (in
1.2
0.4
1.0
1.7
1.6
4.4
1.9
3.3
The loans, advances and guarantees of the members of the
Supervisory Board in office on 31 December 2016 and the
average interest rates were as follows:
Outstanding
Average interest
in millions of euros
loans
rate (in
Loans, advances and guarantees
2016 2015
2016 2015
A.A.J.M. Kamp
0.9 1.0
2.6 2.7
M. Trompetter
0.4 0.4
4.0 4.9
241 Notes to the consolidated financial statements