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.