1998 - GROWTH
PROSPECTS
Rabobank
I
International
What's NewS
Monthly nf.wsletter for Rabobank International^ issue i January i 998
The Dutch economy is set to grow to around 3.5 percent in the
coming year, according to Rabobank's economie forecast
published annually under the title Vision '98. Although the bank
is becoming increasingly international in orientation, its home
base remains extremely important - and an area of expertise in
the market. According to our economics, increases in consumer
spending will make a major contribution to the increase in
growth, an increase which in light of recent events in Southeast
Asia is looking more and more respectable by the day. Corporate
investment will continue to rise and exports will increase further
s in 1998, chairman Herman Wijffels told around 400 guests at the
presentation which was also broadcast in part on national
television that same evening. Another prediction noted in the
more than 100-page forecast on the Dutch economy and its
position within the international context was the notion that
Dutch finance minister Zalm contributing to our Vision '98 - alongside export will take over from consumer spending as a growth driver.
Herman Wijffels, Arthur Arnold and Cees van der Hoeven (Ahold) More on page 7.
in brief
contents
TRANSFERRING
TURNHOUT
Following the closure of our
Turnhout office at the end of
December, activities will be
^ransferred to Rabobank's
"rivate bank Schretlen Co
NV, who are due to open their
first foreign branch in Antwerp.
According to Schretlen's
chairman Klaas Veen,
'Turnhout's part was mainly a
mediating one, we intend to take
that one step further and
actually be involved in private
banking.' Belgium offers a
favourable 'tax climate' for
wealthy Dutch residents, a target
group which is apparently
increasing. 'And we are talking
clients with hig assets,' continues
Veen. 'The market is big, with so
far untapped potential!' And
according to manager of the
new branch office Jurgen
^lensink, the Schretlen image
^Iromises to go down well in
Belgium. 'We enjoy a reputation
of being a common sensical
bank. Our direct, open culture
appeals to the Dutch Belgians.'
SPICING UP INDIA
Things are moving in an effort to
get our first office in India off the
ground. The Indian foreign
investment board have given the
go ahead to open our new Rabo
India Finance Private Ltd, to be
established - for starters - in
Bombay. Next phase is approval
from the Reserve Bank of India
among others. For Rabobank the
Indian market is an important,
though not entirely a new one,
previously business was initiated
Ashok
Kapur -
onboard to
kick-o ff
our Indian
initiatives
from our Singapore branch.
Officially appointed and ready to
take India by storm are Hans
Hannaart and Anton Nillesen,
both internal recruits, while
India-born Ashok Kapur,
previously ABN Amro's country
manager India, is brand new.
According to an enthusiastic
Kapur, success is as simple as a
confidence game. 'India is a
continent - with an enormously
broad spectrum of opportunities.
Being a global F&A and health
care player, it has unique areas of
specialization which are
currently in the hands of smaller,
local dealers not used to global
players. Our challenge will be to
sell India to the Rabo Group as
much as to convince the
country's corporate world of
Rabobank's expertise.'
Completing the specially selected
India-strong management team
will be other accomplished
Indian bankers, still to be
announced. Best guesses estimate
A FRESH START
TO '98 WITH
WHAT'S NEWS
Working relations - honesty
from a Brazilian RIAS cliënt 3
Administration - the latest
business plan 4
Securitization - Atlantis
program 10
Round table impact of Far
East Crisis 12
Global products - Marcus
Grubb and the team 14
Talking heads - Ronald Blok
on the modern rep office 16
the Bombay office will open
their doors by June this year.
Watch this space for details of
the new contacts - once the team
is a little more established.
