Van Slingelandt previews the GMC Holland Staff communication magazine for the Rabobank Keeping score International group report out now Dairy and Seed studies available Looking ahead in BRIEF KPN stock issue Earthquake restoration Inflation down Team for New York marathon seeks sponsors ISSUE 29/25 MAY 1994 Traditionally, Belgium and the Netherlands are football rivals. But when the two national teams meet at World Cup 94, the bank hopes the atmosphere in the Royal Antwerp Football Club will be convivial rather than competitive. Clients of Rabobank Nederland and Rabobank Belgium will be in- vited to view the game on a jumbotron screen on June 25. Dancing and a buffet are also on the program for the 800 guests - we're not speculating on who will win the game. The combined annual report/ group profile 1993, which fo- cusses on the wholesale bank operations of Rabobank Neder land has just been published. It is available from Marketing Services, +31 30 902804. The latest Rabobank indepth studies on the dairy and the seed sector will be published next month. Copies can be obtained from Marketing Ser vices, see above. This year is a special year for the international division as it marks 15 years of operations abroad.Reason for celebrations, but also a time to look at the division's current performance and adjust pol- icies to improve return on solvency. Rik van Slingelandt explains. Raibo do Brasil celebrated five years of operations on May 10, and Curacao's new building was opened officially on May 13 - reports in the next issue. The US agri-business advisory board meets in Brussels at the end of May to discuss trade relations with Eastern Europe and the consequences of the GATT agree- ment. May 29 to 31 has been sla- ted for the yearly Treasurers' meeting. General managers come together in the first week of June for their annual meeting. The agri-project finance team meets in Utrecht on June 24. 'A lot of people think it all began with New York in 1981, but in fact it was Curacao in 1979. So, this year is an important anni- versary for the division. But it comes at a time when we are re- ally going to have to concentrate exclusively on return on solven cy. The first quarter of this year has lagged behind budget - not much, but it's still behind. And April and May are not much bet ter. It's a situation we're not used to in international, so we're going to have to do something about it - now. 'It's a curious state of affairs for all our GMs because now they really have to stand up and be counted on their results. This is a real opportunity to see just how good we are. We haven't met the aggressive budgets we set for ourselves - yet. But I'm con- vinced we will. The year is not even half over and I'm certain we'11 see us meet targets by De cember. But it's not going to be given to us on a plate. We're really going to have to fight like the devil for this. 'It's not a question of changing policy or strategy, it's more a need for adjustment and more awareness about where we are and where we're going. We've got to start looking at cost- awareness - which was lacking in recent years because things were going so smoothly. Now, we have to look very closely at our costs. Investments will have to be scrutinized more than before. When you have a steeply rising line, then just about everything is possible. Now we have to be more careful and make sure we take the right decisions all of the time, and not just 80 percent of the time. 'The bottom line is that we made it happen in 1992 and in 1993, so we're sure to make it happen again this year. It's just that we're going to have to work that much harder to make it happen.' The Dutch state telephone com- pany will be privatized in June through the biggest ever stock emission in the country's histo- ry. The stock will be offered in batches to the general public and Rabobank is one of the lead man agers of the emission. The Netherlands doesn't im- mediately spring to mind as a quake risk, and clearly the archi tecture is not designed with earth movements in mind. However, two years ago the south of the country was hit by tremors, da- maging numerous churches. In April, the member bank in Echt- Maasbracht donated NLG 6,000 to the church restoration fund in Echt village, and also contributed to other church funds in the area. In March consumer prices were 2.9 percent higher than in that month last year. This means inflation is slightly lower than in January and February when prices rose 3 percent. A 10-person Rabo-team will run the New York marathon on No vember 6. Although a number of divisions and the New York of fice have promised sponsorship, the team is still looking for more. Any offers? Contact Ron Bar- mentloo, Chris de Cocq or Leo Gottgens, all based in Utrecht.

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