Indonesia - ROYAL PROGRESS Rabobank What's Monthi.y internal newsletter for the Central Banking Sector Issue 5 September 1995 The recent state visit of Queen Beatrix of the Nether- lands, her consort Prince Claus, Crown-Prince Willem Alexander and foreign minister Hans van Mierlo proved a perfect opportunity to promote the bank and its activ- ities in Indonesia. A Dutch trade mission accompanied the royal visitors, with executive board member Henk Visser representing Rabobank Nederland. In addition to the organization of a series of signing ceremonies and co- hosting of a top level economie seminar, Rabobank also announced a development donation of half a million Dutch guilders to assist in setting up savings and credit cooperatives in rural areas there. For a full report and an insight into the importance of trade missions, see page 3. in brief INTERIM RESULTS PROMISING After a fairly moderate start, the bank's results over the first half of 1995 generated promis- ing numbers. Vigorous growth was hooked in some areas. Funds entrusted were signifi- cantly better than in the same fceriod in the previous year. bending almost matched the strong rise in the first half of 1994 and income passed the NLG 4 billion mark. Commis- sion income was marginally lower and interest-rate margins were tightened slightly, but both these developments are in line with the bank's policy of providing member banks and clients with the most favour- able and competitive rates pos- sible. Financial transaction and other revenue improved appre- ciably and the positive down- ward trend in operating costs continued. Profit showed steady growth with the net result reaching 7.3 percent (11.4 percent in 1994). The international division had a rather slow first quarter, but results picked up as the second quarter progressed. Currency fluctuations played their own role in interim results, but ac- cording to Rik van Slingelandt 'the whole foreign network has clearly made a serious effort to get close to their budget'. The Compound Feed Industry is the food agribusiness research team's most recent global study. It covers the current and fore- cast situation in this important industry by region and offers proposals for growth strategies.The Compound Feed Industry is available from mss. Wil van derTuuk (030) 902804. EXPANSION IN AUSTRALIA Rabo Australia and the Primary Industry Bank of Australia (PIBA), which was acquired last year, have generated no less than 36 percent growth in the first half of 1995. The joint operations focus on the food and agrisectors in Australia and New Zealand and they have pushed up the balance- sheet total from NLG 2.6 (same period 1994) to 3.4 bil lion. Income grew at the same rate. These positive results led to the opening of a second office for Rabo Australia. Besides the main operation in Sydney, the bank will now also be working from Melbourne. PIBA's oper ations are to be expanded in the near future. When PIBA was acquired, it had seven offices throughout Australia and New Zealand. Recently, three new operations were added to the network: Launceston, Tam- worth and Darwin. A further four are now to be launched, two in Australia (Dubbo and Wagga Wagga) and two in New Zealand (Palmerston North and Dunedin). contents IN THIS MONTH'S WHAT'S NEWS New faces - the latest erop of management trainees 2 High-tech operations - new systems at work 4 Trade finance - policy paper sets tough targets 6 Complimentary credit - JP Morgan studies the bank 7 Working week - the 36-hour agreement 8 Talking heads Henk Gentis on growth areas 8

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1995 | | pagina 1