Estonia in Utrecht Holland in BRIEF E R N A T Staff communication magazine for the Rabobank Gko Australia in CP program Negative picture Study update Corporate finance talks Looking ahead Unusual transactions Rabobank Academy Transactions through network Rabobank buys patents ISSUE 23/15 NOVEMBER 1993 Rabo Australia Ltd has launched a multi-currency A$500 million Euro-commercial paper pro gram. The arranger is Swiss Banking Corporation and the dealers are SBC, Westpac, CBA and Rabobank's head office and Singapore branch. See page 4. Some time ago, we sent a pack- age of photographs of the Zurich office back to Monica Krienbühl by internal mail. Yes, you guessed right - they never arrived. Did anyone receive them by mistake? If so, please dispatch them to Monica as soon as possible. In the coming month, the agri- research team will be publish- ing two new studies - poultry and pigs. Copies of the studies are available from the market ing services department in Utrecht - +31 30 902084. Representatives of foreign of fices' corporate finance depart- ments met with colleagues from Utrecht to develop networking in this area. See page 3. Operations managers from all international offices will gather in Utrecht for their annual meet ing on November 15. The Dutch Ministry of Agriculture and Ra- a poultry sem inar during VIV-Asia on Novem ber 23 in Bangkok, Thailand. Rabobank's head office in Utrecht was the focus of national media attention on October 27 as the bank welcomed a high- ranking trade delegation from the Baltic state of Estonia. Estonian deputy prime minister Hanni led the mission whose aim was to attract investment from the Netherlands. The seminar was jointly organized by the Clingendael institute, the Netherlands council for trade promotion, the Estonian government and Rabobank. Following an informative intro- duction on the Baltic States - Latvia, Lithuania and Estonia - as geographically strategie re- gion, the Estonians got down to the real business in hand. The importance of this mission for the small Baltic state was appar- ent from the presence of not on- ly the deputy prime minister, but also the minister of economie af- fairs and the chairman of the Estonian parliament's economie and agricultural committee. Estonia officially regained its in- dependence from the former Soviet Union in 1991 and in the intervening period government policy has focussed on privatiz- ation, stimulating free trade and the elimination of state subsidies in order to pave the way for a broad-based market economy. In June 1992, Estonia introduced its own convertible currency, the E-Kroon, which is pegged to the German mark, and it has re- mained stable. Althoughy short on natural re sources, Estonia believes it has a lot to offer foreign investors. In addition to a highly-trained work force, it appears to have made the transition from com- mand to market economy with relative ease. In the space of one year, inflation has been reduced from 1000 to 25 percent, and forecasts indicate this figure will be comparable to northern European norms by 1995. The deputy prime minister, who was visiting the Netherlands for the second time, expressed real interest in Rabobank's cooper- ative structure. 'We are attempt- ing to re-introduce this kind of banking system in Estonia,' she said, 'but we still have a long way to go.' Suspect and unusual financial transactions have to be reported by Dutch banks to the author- ities. The Netherlands' parlia- ment, the 'Second Chamber' has recently passed new legislation to regulate reporting. The new law is designed to combat launder- ing. Work is currently ongoing on the establishment of the Rabo bank Academy. This educational institute is aimed at increasing the basic training levels of staff and management and courses followed there should ultimately be recognized outside the bank. Member-bank transactions will no longer be sent on diskette to the bank's two central computer centres. A new 'mini-batch' sys tem will soon be operational whereby data will be 'collected' by central computers via an RTN network from the banks. In a remarkable deal between the bank and the giant Philips elec- tronics Corporation, Rabobank has acquired a number of patents owned by Philips. The multina tional is now 'renting' these pat ents from the bank. The reason- ing behind the deal was the im- provement of Philips results and the bank earns an interesting an nual rent. The Dutch media had a field day with this unusual fi nancial construction and for a couple of weeks Rabobank was making front-page headlines every day.

Rabobank Bronnenarchief

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