k
International
Banking Services
- a profile
Top talk
Looking
ahead
Facilitating trade
Interim figures show
improvement all round
Mexico open
for business
Staff communication magazine
for the Rabobank Groun
At the IBS department
based in Utrecht, a 36-person
team provides a multi-facetted
international service to local
member banks. See page 2.
Rabobank's Wijffels and
Schreve will be joining the
world's top bankers at the
forthcoming annual meeting of
the International Monetary
Fund. The top Rabobankers will
be using the opportunity to dis-
cuss further cooperation with
European strategie alliance
partners.
Raibobank do Brasil and
electronics giant Philips' local
import company, Philips da
Amazonia, have formalized a
US$ 10 million import post-
financing facility.
'Essentially,' says senior ac
count manager Ab Gillhaus,
'this type of facility is a tax-
driven lending arrangement. We
agree with the importing com
pany to pay their foreign suppli-
ers upon delivery of the goods
and the company reimburses
us with costs at a specified
date.' Although arranged by Rai
bobank Brasil, the facility is, in
fact, made available by Rabo
bank Nederland's Rotterdam
branch, which is a frequent
partner in Brasilian activities of
this kind. 'Facilities like this are
also based on fiscal consider-
ations,' says Gillhaus, 'because
a 25-percent withholding tax is
applicable in Brasil to certain
interest remittances. However,
through the Dutch-Brasilian tax
treaty this can be reduced us
ing arrangements such as the
facility, making them a very at-
tractive proposition for all con-
cerned.'
Rabobank Nederland will be
participating in the interna
tional ANUGA food fair in Co
logne from October 9 to 14. As
1993 has been designated as
international fruit year by the
bank, with marketing efforts
aimed at generating a greater
market share in this sector,
Rabobank will be joining the
'Rotterdam Fruit Port' section
of the Dutch pavillion.
The Dutch Ministry of Agricul-
ture and Rabobank will be co-
hosting a poultry seminar dur
ing the VIV-Asia on November
23. Speakers will include the
bank's Cor Broekhuyse and
David Martin, editor of Poultry
International. Guests of honour
will be both the Thai and Dutch
ministers of agriculture, and
Rabobank will use the opportu
nity to present two new studies
on the pork and poultry indus
tries.
General Manager Frits Mön-
king and secretary Katrien de
Moor launched the Mexico repre-
sentative office on September 6.
Says Mönking: 'After months of
preparation we're finally open for
business and we hope we'll be
able to do a lot for both the other
foreign offices and for Utrecht.'
The new office is located at:
Bosque de Tamarindos 21-901,
Bosques de las Lomas,
CP 11700 Mexico DF
Telephone: +52 5 570 4047
Telefax: +52 5 259 8977.
sults against the same period
last year. Net results grew by
7.9 percent.
In terms of international opera-
tions, results were good, with
gross results showing a 40-per-
cent improvement on last year.
According to the international
division's interim report, the
balance sheet was more
stable, showing a 1.5-percent
growth since the end of 1992.
In general, the majority of foreign
operations performed on or
above budget. Forecasts for the
whole year indicate that the
international division is expect-
ed to exceed slightly its budget-
ed gross results.
The first half of 1993 show-
ed satisfactory development of
the bank's position, both na-
tionally and internationally.
On a national scale, continued
growth in lending and a strong
increase in investment through
the bank characterized the six
months to June 1993. Growth
of interest revenue was mod
est, but this was balanced by a
considerable increase in other
income. In addition, income in-
creased more than costs for
the first time in three years due
to the bank's ongoing cost-re-
straint policy. Taken together,
all activities produced a 7.1
percent increase in gross re-
Broekhuyse for Bangkok.
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