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. iiaxco cFNTimréo brami B203S01630S.ji, R TOF. STATES ÜMsÉk QUINHfNTOS 1 -"«UZADOS NOVOS

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blad 'Raboband International' (EN) | 1993 | | pagina 1