Ground work
RI vision
This 'Strategie consideration' brings us
to so-called 'country banking', which
bas been loosely defined as a strategy
based on a combination of vision and
opportunity, focusing on moving up
the rural value ehain. We learned a lot
from the Primary Industries Bank of
Australia/New Zealand (P1BA) acquisi-
tion in Australia back in 1994. This
bank pursues what could be ealled 're-
tail', hut in a very clearly defined way
and to a very clearly defined target cus-
tomer base. The reason RI was able to
take on PIBA and expand it into one of
our top suecess stories was that we un-
derstood the clients and their business
- F&A. RI is also engaged in that busi
ness from a wholesale banking
perspective. That gave us a local
knowledge of both PIBA and the
market that has proved indispensable.
More recendy, we have made a number
of other acquisitions, also with an
F&A slant, such as ACC in Ireland and
potentially VIB in the US (see side bar
on page 11). In India, we are develop-
ing a tailored approach to that very
specific market. This forms ground
work for ongoing internationalization
in an area where we, as RI and a
mature part of the Rabobank organiza-
tion, are knowledgeable, 'at home' and
highly experienced.
As Rabobank's Executive Board delib-
erates on these 'Strategie considera-
tions', it is equally strategie for interna
tional Rabobankers to begin
contemplating a greater vision for RI.
Concludes Dekker, 'If RI is positioned
within the Group as a tangible, indis
pensable and strategie component for
the Group. If the wholesale F&A
oriented braneh network around the
world can be selectively enriched with
rural "country banking". If we add to
that the professional product capacity
within Rabobank International as an
instrument for adequate management
of the Group balance sheet and capital
structures. And if we can add to that
the role of "hatchery" for the Dutch
organization, bringing in essentiai
international experience, both human
and in products and services. If we can
achieve those objectives, then we will
represent the basis for the further
international expansion of the Group
as a whole.'
The Word I 7