House in order Streamlining the central organisation Refocused distribution formats Strengthening our position as Allfinanz Group Priorities Subsidiaries: role and added value Strategy and policy 17 an important anchor for our market leadership ambition. Loyalty to the business and a preference for Rabobank Group's financial pro ducts are important yardsticks of their engagement. Also, the mem bers are a source of growth and inspiration because they give their opinion on the quality of the services and because they actively participate in innovation projects.That is why the strategy empha sises a broader member base and stronger member engagement. In the year under review, membership grew to over one million and numerous initiatives were developed, both by and for members. Bringing our house in order implies strengthened selling power and continuing cost reduction efforts - both at a local and at a central level - as well as greater efficiency. Our policy is centred on the local Rabobanks and yielded results in the year under review. Substantial staff reductions not only caused the rise in costs to level out at the local banks but also improved financial results. As far as selling power is concerned, significant improvements are still neces sary. Having one's house in order also means having a vision of the future positioning of the local Rabobanks in the longer term.What will the local banks be like in a few years' time? What will their size be? What should their performance and skill levels be like? And how will this relate to Rabobank Nederland's central support orga nisation? In the autumn of 2002, a special project group was esta blished that should provide an answer to these questions in the course of 2003. As a result of mergers, the size and skill level of many local merged banks have increased to such an extent that streamlining of the central organisation has now become a necessity. In the year under review, a first start was made. This has resulted in a substantial reduction for Rabobank Nederland of external staff in particular and has made an important contribution to better cost control. However, further streamlining of the central organisation will be inevitable. Through more demand-driven support, Rabobank Nederland will continue to respond to the increasing expertise in the local banks. Maintaining the current strong market position of the local Rabobanks and ensuring growth in those areas where market lea dership has yet to be achieved will demand great efforts in the time ahead of us. We shall continue our work on the efficient promotion of Rabobank as the bank-near-you in the Netherlands, with the most closely meshed network, both physical and virtual, of contact points for our clients. Sales via direct channels, such as the telephone and the Internet, will be emphasised. In addition, distribution formats and service concepts for specific client groups, such as the well-off, will be refocused or developed further. In order to strengthen our position in the Dutch corporate market, local banks that meet certain qualifications will be granted broader capacities to deal with large transactions independently. Together, the local banks and Rabobank Nederland Corporate Clients, which is part of the wholesale banking business, succeeded in strengthening Rabobank's position in the corporate market con siderably in 2002. Rabobank Group's strategy aims at strengthening its Allfinanz posi tion in three ways: Primarily by strengthening the market leadership of the Rabobank brand in the distribution of financial services, as descri bed above. Additionally, by strengthening our market position in financial services distribution through existing and new subsidiaries. Selectively, by strengthening our position as a producer of finan cial services by supplying products to distributors outside Rabobank Group. Currently, Rabobank Group is a market leader in many financial retail markets, including payments, savings, investment, mortgages and business financing.This is due to its strong position in the pri vate segment, the small and medium-sized businesses segment and the agricultural sector. Nevertheless, further growth is called for in a number of areas. In practice, priority will be given to strengthe ning our market position in the corporate market, insurance, asset management (private banking), employment benefits, pensions and care, consumer credits and mortgages. In addition, the position of Rabobank Group - and particularly that of the local Rabobanks - will have to be strengthened in the large(r) cities and among ethnic minorities. Apart from achieving attractive returns, the target for our subsidia ries is to strengthen Rabobank Group's strategic position and image both at home and abroad and to improve its total risk profile. In this way we can provide for continued best-buy solutions for clients of the local Rabobanks, even in the longer term.The subsidiaries are competence centres for the local banks. Apart from this role, virtually all of them also serve their own customers, who do not bank at a local Rabobank. All subsidiaries are assessed according to their contribution to Rabobank's market leadership ambition, using criteria such as customer value and their financial and strategic added value.

Rabobank Bronnenarchief

Annual Reports Rabobank | 2002 | | pagina 19