Rl shows a strong interim result 4J Rabobank present at Sibos 2011 Global Global NEWS EVEN7 Rabobank International (Rl) has posted a strong interim net result for 2011 of EUR 543 million, twice the budgeted net result. This is considered encouraging, given the challenging economie climate and the regulatory implications. Total income from Wholesale banking for the first half of 2011 was EUR 1.4 billion, a five percent rise on the equivalent 2010 figure driven largely by GFM (EUR 667 million) and Professional Products (EUR 353 million). The contribution of Wholesale income to the strategie pillars is well diversified, with increased income on our Dutch and Global F&A franchise as well as increased leverage on RI's specialisations (e.g. GFM, TCF). Rural Retail total income rose eight percent above the 2010 figure to EUR 514 million, fuelled by lending growth, a continued focus on improvement of margins and the acquisitions of Butte and Pacific in California. RI's interim net result is 21 percent down on the figure for the same period last year, largely because of the strong performance of GFM in the first half of 2010 and the sale of RI's stake in YES Bank, which produced a one-off gain of EUR 150 million. Total costs of EUR 906 million are 23 percent higher than for the first half of 2010, driven by exceptional items in 2011such as retail acquisitions and one-off pension costs. The cross-sell ratio rose from 28 percent in the first half of 2010 to 30 percent for the same period in 2011This reflects the product drive and closer relationships Rl is forging with its customers. Although RI's financial result is encouraging and creates a stable foundation for the remainder of the year, the challenging economie climate calls for an ongoing focus on safeguarding the business's profitability. Rabobank recently participated in the 2011 Swift International Banking Operations Seminar (Sibos), which took place in Toronto, Canada. During the conference, the business was represented by a number of Rabobank International departments - GFM Relationship Management Financial Institutions, Network Management, TCF Financial Institutions Emerging Markets, Loro Banking - as well as the Payment Savings department of Rabobank Nederland. Sibos brings together influential leaders from financial institutions, market infra- structures, multinationals and techno- Impression of Rabobank's stand at Sibos 2011. logy partners to do business and shape the financial industry's future. This year, the conference covered four prominent themes: regulation, geographic shifts, the changing landscape of the financial industry and how emerging technologies will affect the financial services industry. Rabobank's presence at this premier annual financial services conference included staging a special event for over 180 clients at the majestic Casa Lorna castle during the first evening of the conference. The event was attended by selected guests from the Rabobank Toronto office and senior representatives from relationship banks and clearing houses from around the world and was very well received. Ineke Bussemaker, Head of Payment Savings Rabobank Nederland concluded the meeting by wishing everyone a very fruitful and enjoyable conference. Rabobank 6 ISSUE 29 OCTOBER 20! I Rl WORLD

Rabobank Bronnenarchief

blad 'RI World' (EN) | 2011 | | pagina 6