1993 - in focus
4 International
April
July
'1993 - a year of substantial
progress in <ontrolling risk and loss
on lending'
ISSUE 24/13 DECEMBER 1993
January
The Milan office has a narrow es
cape when fire breaks out in its
second-floor accounting room.
Fortunately, it is discovered al-
most immediately and no one is
hurt, although the whole floor
suffers serious smoke damage.
On a brighter note, Dennis
Ziengs joins Rabobank North
America as general manager.
The Leipzig office is discontinued
following disappointing banking
opportunities in that region of
eastern Germany and its activ-
ities are taken over by the Frank
fort office.
February
Following a year of indepth
exploration of the Hungarian
market, an office is opened in
Budapest and Henk Leliveld is
appointed general manager.
Rabobank Duta hosts the first
Regional Trade Finance Meeting,
bringing together representatives
from the bank's offices in Indo-
nesia, Hong Kong, Singapore
and Australia. The first CAM
conference takes place in the
Netherlands. Rabobank Belgium
begins off-balance sheet product
trading.
March
Utrecht hosts a pilot course on
credit analysis and applications.
London begins a new private bank
ing division. Rabobank's 1992
figures are announced, showing
some growth in almost all the
bank's activities in spite of con-
tinued global economie stagnation.
A 'new look', combined annual
report and corporate profile is
published. EXIM bills, the first
module of a five-point, multiple-
branch system of products and
services to LC clients becomes
operational in New York, Singa
pore and Utrecht.
May
An American is appointed the
new chief of the Buenos Aires of
fice. Raibobank do Brasil's ad-
ministrative department is up-
graded into an operations sec-
tion. Peter Greenberg says 'he
feels a special obligation to de-
monstrate to the bank that it has
made the right decision to send a
US Rabobanker to Argentina.'
Although Guernsey has been up
and running for some time, it is
officially 'opened' on May 3.
Sydney is upgraded to merchant
bank status.
June
Rabobank Zurich gains a ban
king licence from the Swiss auth-
orities. Germany organizes fare-
well to Rabobank supervisory
board chairman Baron Otto van
Verschuer. Queen's Commis-
sioner Wim Meijer is his succes-
sor.
The annual general managers'
meeting brings together interna
tional Rabobankers from all the
foreign offices.
Following a three-year strategie
alliance, Rabobank and Banco
Popular of Spain announce the
creation of a joint-venture bank
- Popular Rabobank.
Maus Barendrecht is appointed
manager of the foreign offices
department.
London recruits a new head of
its banking division.
August
Rabobank North America an-
nounces plans to open a loan
production office in Chicago.
September
Interim figures show improve-
ment all round, with the inter
national division's balance sheet
showing 1.5 percent growth.
Mexixo opens for business with
Frits Mönking as general man
ager.
October
For the first time in its history,
Rabobank issues so-called
dragon bonds to be listed on
Hong Kong and Singapore's
stock exchange.
The bank's Stuttgart office is the
prime mover behind a unique
seminar on strategy develop-
ment in the German dairy in-
dustry.
Milan's Mauro Bambacigno car-
ries of the first agri-deal of the
year award.
November
Rabobank Australia launches a
multi-currency A$500 million
Euro-commercial paper pro
gram. As part of its development
program as full branch, Sydney
moves to larger offices.
December
Approval is given for start-up
operations in Thailand and ex-
panded activities in Malaysia.
Cura<;ao's new premises are
completed on Schedule and the
bank relocates on December 16.
Chairman of the executive board, Frank Schreve, looks back
on 1993: 'The international division has had a very satisfac-
tory year which has set us on the right track for further
development in the foture. I think we're on the right track
because we made considerable progress towards accomplish-
ing the control of risk and losses on lending.
'This has been achieved because our people in the foreign of
fices have worked hard on setting priorities on these. In the
past, we were focussed on capturing market share. Now we
are saying volume is nice, but that's not all. We really have to
control the bottom line. And 1 think the focus and priority
setting by our people has helped to accomplish this. 'That's
one aspect. Another is that corporate finance has now been in-
troduced in a number of the foreign offices and we have ma
de a good start there. Moreover, we have taken advantage of
the favourable situation on the money markets as well as on
the foreign exchange markets. Put all these factors together
and you find we are getting more of our income ff om non-loan
related activities and that is one of our primary objectives.
'This is all related to results. What is even more important is
that people in the international offices are feeling increasingly
part of the whole Rabobank team. Our staff abroad are no
longer focussed solely on their own particular office. That was
so very clear at the recent operations managers' meeting. You
can see that people are now trying to come up with solutions
for the whole organization, and not just their own backyard.
This is a trend that is becoming increasingly apparent
throughout the whole of the international and national oper-
ation. It makes me very happy to be able to say this. Let me
finish by wishing everyone an even more prosperous 1994
than the year gone by.'
