3.2 Strategy Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 into dialogues with our stakeholders and sometimes adjust our goals as a result. We aim to be ranked by independent rating agencies as one of the most sustainable, globally operating, general banks by 2020. Growthpath We have made meaningful progress with the implementation of Sustainably Successful Together during this year and are satisfied with the progress on the measurement of progress on the targets we have set for our contribution to sustainable development until 2020. For all KPIs we introduced measurement, improved its quality and/or made progress on the realisation of the targets themselves. We aim to report in line with the expectations of our stakeholders in a fully integrated and meaningful way about our activities.This requires further integration in the management of and reporting on financial and non-financial targets, activities and results. We will therefore further integrate the management of and reporting about Banking for Food, Banking for the Netherlands and Sustainably Successful Together next year. The quality of data gathering requires further improvement as well. Software is being developed to realise this. The integration with the management cycle for our two strategic pillars will be strengthened to this aim.This requires further integration of the existing management information systems and - processes. These activities were started during this year and will be continued upon delivery next year. In addition we will optimise the clarity of the wording of the key performance indicators of Sustainably Successful Together using the practical experience in implementing them over the last two years. We expect that the activities described will make it possible to realise both a faster realisation of the targets set, the measurement of its progress and the reporting about it. At the beginning of2016the implementation ofthe Strategic Framework 2016-2020, which describes how we want to achieve ourambitions began. This strategy provides a sharpened focus on improving customer service and realising a fundamental improvement in financial performance across Rabobank in orderto safeguard ourfuture success. To fulfil our ambitions for 2020, we are focusing on three core objectives. 7. Excellent customer focus In the Netherlands, we strive to be the most customer-focused bank in the country and we aim for a sharp increase in customer satisfaction outside the Netherlands as well. We believe that this is where our strength and distinctiveness lie. Rabobank will undergo a fundamental transformation in the coming years in terms of working methods, culture, attitudes and conduct. By doing so, we are responding to changes in customer needs, the uncertain economic climate and the stricter requirements of regulators. We want to become the most customer- focused bank in the Netherlands and in the food agri sector internationally by providing excellent basic service, being the closest to our customers at key moments and fulfilling our role as a financial linking pin. 2. Increased flexibility and reduction ofthe balance sheet In the years to come, we anticipate a further tightening ofthe regulatory environment, for example the implementation of the proposed reforms to 'Basel III' and MREL. To maintain our position as a rock-solid bank, it will be necessary to make our balance sheet more flexible. We want to achieve balance sheet optimisation by, among otherthings, placing parts of our loan portfolio with external parties and maintaining a liquidity buffer that is in line with the reduced balance sheet total. We are carefully monitoring ongoing developments with regard to the pending Basel regulations, the final outcome of which will ultimately determine the extent ofthe required balance sheet reduction, but without changing our other financial targets for 2020. 3. Performance improvement To maintain our position as a rock-solid bank we need to realise an improvement in performance. Our aim for 2020 is a gross profit (before tax) improvement of EUR 2 billion (excluding the effects ofthe reduction of our balance sheet) compared to 2014, which will be realised by improvements within our central organisation, the local Rabobanks and the international organisation.The improvement should be effected by both higher revenues and lower costs through increasing efficiency and new ways of working. Reaching this level of profit improvement will improve the cost/income ratio to approximately 53-54% in 2020, and we will achieve a return on invested capital (ROIC) of at least 8%. For more information click here. Accelerators The strategy calls for a substantial transformation ofthe Rabobank. In view ofthe challenge we face and to accelerate implementation and realisation, we identify three accelerators simultaneously to realise and strenghten the transformation: 308 Rabobank Jaarverslag 2016

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Jaarverslagen Rabobank | 2016 | | pagina 309