Joint venture with Indonesian bank Developments in Hong Kong International activities took center stage at annual General Meeting Rabobank in Brazil called 'Raibobank' New name: NedShip Bank Rabobank Asia Ltd. opened Staff communication magazine for the Rabobank Group RABOBANK /N EuRoPe lt was recently decided to start negotiations in Indonesia with the aim of reaching agree- ment with an Indonesian bank on the setting-up of a joint ven ture. Last year the Indonesian government simplified the pro cedure for obtaining a banking licence for foreign banks. It is now permitted to set up a joint venture bank with a local bank. The foreign bank may have a shareholding in and control of the bank to a maximum of 85%. The International Division hopes to come with definite proposals at the end of the year. Recent talks in Indonesia indicate that a start can be made on preparations for this bank towards the end of the current year and that it can be operational in the course of 1990. Henk Adams, our repre- ,entative in Indonesia, expects that our agricultural specializ- ation and expertise in particu- lar will do well in this market. He has had a lot of contacts in previous years with companies involved in the processing of agricultural products and with numerous foreign companies which are interested in the Indonesian market. issue 4/September 22,1989 On May 9th the Executive Board decided to upgrade the Representative Office in Hong Kong to a full Branch. This de- cision was confirmed by the Board of Directors. The recent irmoil in China which started on the 4th of June in Tianan- men Square was for our Execu tive Board reason to postpone the decision for the period of one year. At the recently-held General Meeting, Vlce-Chalrman of the Executive Board of Rabobank Nederland, Henry Klarenbeek, presented an absorbing paper on the objectives of the interna tional activities of Rabobank. With this vldeo-alded presenta- tlon, in which the foreign-based offices played an important role both literally and figuratively, Klarenbeek called on the lo cal Rabobanks to give more attention to the international poli- cy. More Information on page 7. Raibobank do Brasil Ltda. This is the official name of our office in Brazil. The 'i' in Raibo bank is not a typing error. Why this extra letter in the name? In Portuguese the word 'rabo' has a rather ambiguous mean- ing. For instance, 'ele tomou no rabo' is used when some- one has not been particularly successful in something. If someone has not done his work properly, then one says: he has left a 'rabo' (tail) be- hind. This was reason to con- sider an alternative name, one which resembles the origi- nal name but which has no negative ring to it. After exten- sive research the name Raibo bank do Brasil Ltda. was chosen. Nederlandse Scheepshypo- theekbank (Netherlands Ship Mortgage Bank). Dutch people have no dlfficulties in pronounc- Ing the name. Forelgners find It a name that they slmply can't get their tongue around. The bank, which is a 100% sub- sidiary of Rabobank, is doing increasingly more business in countries outside the Nether lands. It has offices in Cura- gao, New York and Piraeus (Greece). This all was reason enough for the management to choose another name. As of this summer the bank is called NedShip Bank. The results of the first half year were satisfac- tory. The revival of most sectors of ocean going shipping, which started in 1987, continued dur ing the first half of 1989. By mid-year the loan portfolio stood at Dfl 1,515 million, a record for the Nedship Bank. The gross result for the period came to Dfl 13,882,000 as compared to Dfl 10,036,000 for the first half of 1988. The net profit came to Dfl 4,801,000 as compared to Dfl 3,036,000 for the first half of 1988. On the 18th of May, Rabo bank Asia Ltd. was opened In Singapore. This is the Group's first merchant bank outside the Netherlands. Almost 100 investors visited the Dutch Day, which was orga- nized on May 17th, and were addressed on the Dutch econ- omy and capital market and the activities of Rabobank Asia Ltd. During a lunch meeting a unique orchid was named the Ascocenda Rabobank Asia. Executive Board member Henry Klarenbeek (right) receives the official certificate that goes with the orchid. The flower symbolizes the creativity and professional approach of the Rabobank Group with its back ground firmly rooted in the agri cultural sector. The guests re- ceived an orchid and a pair of specially painted mini-clogs.

Rabobank Bronnenarchief

blad 'Raboband International' (EN) | 1989 | | pagina 1