Derivatives indepth
Rabo-Duta SPONSORS
Holland Agro '95
-( cliënt service ")-
What's Nf.wS Issue 3 June/July 1995
-{ holland update)-
The highly complex range of
products known collectively as
derivatives is familiar ground
for the portfolio managers -
both in the bank and in cliënt
treasuries - who use them
every day. However, senior
executives often do not have
this very specialized know-how
at their finger-tips. 'This is why
we thought it may prove useful
to create a derivative seminar
specifically aimed at clients,'
says Paul Michiel-
sen of the financial
markets' insti-
tutional investor co-
ordinating account
management. 'The
intention was not
to explain what, for
example, a swap is.
But to give man
agers an insight
into how they can
be used effectively
and how we ap-
proach risk manage
ment.' The seminar included
presentations on leverage, risk
management and control, and
derivative applications. 'We
used the honest approach in
presenting these subjects,' Mi-
chielsen says, 'and explained
that we have also had to learn
the intricacies of these prod
ucts.' Over 30 of the 50 invited
clients attended the seminar.
Following its success, more
similar events are in the pipe-
line all of which are designed
to show the bank's commit-
ment to long-term relation-
ships. 'One of the most
important factors here,' says
Michielsen, 'is that we want to
be sure the cliënt has the infor-
mation, skills and infrastruc-
ture he needs in both the front
and back offices to work effec
tively with these products.
Because our responsibility
extends further than just
quoting a price.'
NEWS FLASH
Rabobank director Wim
van den Goorbergh ac-
companied Dutch premier
Wim Kok on a trade mis-
sion to China last week.
While in the PRC, he sign-
ed a number of export
finance agreements with
the Bank of China and the
China Eminbank as well as
approving a loan for the
construction of a Philips
plant there. Rabobank
Hong Kong did the ground
work for the cluster of
agreements.
For the past three years, the In-
donesian capital, Jakarta, has
been the venue for a compre-
hensive exposition of advanced
Dutch agriculture and agribus-
iness technologies. The bank
was main sponsor of the year's
event which focused on po-
tatoes and poultry.
'The exposition, which was at
tended by over 500 companies,
is an initiative of the Dutch
ministry of agriculture and aims
to enhance cooperation between
Indonesian and Dutch com
panies in this sector,' says Rabo-
Duta's operations manager Vic-
tor den Hoedt. 'We have always
had a presence in previous
years, but this is the first time
we acted as sponsor.' Besides
taking care of hospitality, which
meant hundreds of visitors to
the event came into contact with
Rabobank, the Jakarta office
had also invited Arend Heij-
broek of the agri-research de-
Top reception as Rabobank meets the minister.
partment to present a seminar
on the bank's authoritative sec
tor studies.' Around 100 people
were expected, but 140 actually
came,' says Den Hoedt. 'Among
these were leading business
people and top officials from In
donesian ministries.' Heijbroek
discussed developments in the
global food industry at the sem
inar, but we also visited the In
donesian minister for food and
his senior advisors to discuss the
results of our study and further
RETAIL BANK CHARGES
REVOKED
From July 1, Rabobank will
cease to charge retail clients
for bank services. Bank char
ges were introduced in 1988
following explosive growth in
payments traffic. However, the
bank promised these charges
would be removed if clients
began using more efficiënt pay-
ment systems. 'Rabobank
keeps its word' ran the head
line in one of the Netherlands'
top national dailies, while
others focused on 'the bank's
coup', which competitors on
the domestic market would
find a hard act to follow.
ANNUAL GENERAL
MEETING
cooperation in agriculture and
agribusiness between the two
countries.'
However, the main object of the
exercise was to renew existing
contacts and make new ones.
'I think in this sense, the event
exceeded all our expectations,'
says Den Hoedt, 'there were
also 33 Dutch companies at the
exposition and I believe our
very visible presence proved to
them that we really are a force
in South East Asia.'
Over 2,300 representatives of
member banks attended the
ACM in Utrecht on June 8.
With colleagues from Rabobank
Nederland, they heard chairman
of the board Wim Meijer re-
interate the need for a revival of
the bank's cooperadve values.
This is currently a hot topic in M
the Netherlands. Herman Wijf-^
fels reviewed last year's positive
performance and looked ahead
to a new, client-oriented ap
proach to banking. But he again
emphasized the need for further
reductions in costs.
VIETNAM GOES
COOPERATIVE
For the past two years, the
bank's development aid foun
dation, the SSR, has been work-
ing on establishing cooperative
savings and loan programs for
Vietnamese farmers in the
Hanoi region. A Rabobank
expert has been providing on-
the-spot advice and assistance
to the participating farmers
who control and administer
their own funds. The bank
became involved following an
invitation from the Vietnamese
Bank for Agriculture.
