International 5
of all, China will continue to
grow economically, creating op-
portunities not only for the
bank, but also for our clients.
We have to take this real deve-
lopment into consideration in
our forward planning. Second, I
think it is safe to assume parts of
Central Europe will begin to
emerge as viable economies.
'In Western Europe the envi-
saged common currency may
take a while to arrivé, and I
doubt if that will happen before
the turn of the century. But as a
bank, we have to be prepared.
Convergence will create a lot of
problems, but will also bring ad-
vantages. The markets will be-
come more fluid and inter-
country payments easier.
'As I see it, there are two
major issues worldwide. One is
developements in the financial
markets. We will see over com-
petition in a world over populat-
ed with banks. It wouldn't sur
prise me to see a tendency in
which protectionist measures are
introduced and banks become
like national symbols, in the
same way as airlines used to be.
That trend would make our life
increasingly difficult.
'Then, I think we have to as
sume the world will increasingly
be divided into three major eco
nomie bloes - the Far East, Eu
rope and the Americas. Person-
ally, I hope this development will
drive banks into positive change
and rationalization so that, as a
community, we become more ef
ficiënt. This is essential. And we
have to be at the forefront of
that development, because if we
are not proactive, these develop-
ments will ultimately force us
into action.'
'The biggest chalienge facing
us in 1995 is to improve return
on solvency. In the financial
markets division we actually
generate the highest return on
solvency, but it is still not high
enough. I keep emphasizing to
our people in the division that
they have to make twice or three
times the returns made by other
areas in CBS. This is because I
know that the non-financial
markets sectors of CBS will by
definition always make a lower
return on solvency. Now, we
need the rest as much as the rest
needs us. But we all have dif
ferent roles to play and contri-
butions to make to the ultimate
bottom line. Our role is to con-
tinually improve return on sol
vency through financial markets
activity. That's what its all
about, not only this year, but
every year.'
R. Artbur Arnold
'What I would like to see in
the coming year is very active
operations in all our markets
worldwide. Having said that,
I should qualify it by adding
that our considerations and
decisions must be balanced so
that we can be proud of what
we achieved in 1995 in the years
to come.'
Bert C. Steketee
'Our primary aim this year
must, of course, be the realiz-
ation of yet another increase in
our net results. But our ability
to achieve this goal depends on
two factors - world economie
growth and the performance of
our customers. However, even
more important is the extent to
which we will be able to beat
the competition and increase our
market share in the wholesale
markets. Simply flogging the
markets will products is no lon-
ger the name of the game.
'Success in today's banking
business depends on your ability
to form marketing teams of ac
count managers and product
specialists who together can ap-
proach customers proactively
with unique, creative solutions
for their problems. So, let's get
out there and do it...'
Henk G. Gentis
'In 1995, our efforts should
be directed more at external
markets. The key to commercial
success consists of three ele-
ments - teamwork, focus and
networking. Recently, the bank
has made considerable invest-
ments in increasing the level of
our professional services.
'It is now time to reap the
benefits. At the same time, we
will continue to expand our
international network and
further improve our commercial
effectiveness. Value-added
services will always remain the
key to meeting our financial
targets.'
Wouter Kolff
'The chalienge of 1995 is to
become an even more mature in
ternational banking organiz-
ation, in the sense that we are
able to look at the markets, not
only from a traditional banker's
point of view.
'The overbanked market,
disintermediation and technol-
ogical developments enable
banks and more importantly,
non-bank competitors to act on
f the markets using totally new
approaches, new distribution
channels and a considerably
lower cost base.
'We cannot afford to lag be-
hind. Now we are nationally
and internationally more or less
established we have to be crea
tive, we have to look ahead and
use all the new technologies in
our operations and market ap-
proach so that we continue to
develop into a modern bank that
is equipped and ready for the
future.'
Hans van der Velde