Shift to Internet savings Rabobank distribution policy Branch network Declining staff numbers at local Rabobanks Virtual banking Retail banking 27 Rabobank offers clients a number of different savings options: the Rabo Return Account via its office network, Rabo Telesavings via the telephone and Rabo Internet savings via the Internet. Development per savings channel 100% Mill 1999 2000 2001 2002 Rabo Return Account Rabo Telesavings Rabo Internet savings Points of contact and offices 3,000 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Points of contact (offices, cash dispensing machines and agencies) Offices The share of Internet savings in the total savings amount at the local Rabobanks has increased substantially over the past few years. Currently, 30% of savings is on Internet savings accounts. In the year under review, the number of Internet savings accounts doubled to 1 million.The reasons why many clients open an Internet savings account are the convenience of managing one's savings oneself and the benefit of high interest rates. Of all the financial institutions in the Netherlands, Rabobank has the most branch offices. The interests of members and clients are central to the Bank. This is reflected in a closely meshed branch network. For that reason, Rabobank is and remains the bank-near-you for its clients. With 1,516 branch offices,599 cash dispensing machines in public locations and 402 agencies, the local banks have no fewer than 2,517 points of contact. For staff policy, security and/or profita bility reasons, a number of branch offices have nonetheless been closed in recent years, particularly in small towns. The success of electronic banking has meant that fewer and fewer clients visit physical banks. When a branch office is closed,a sound alternative is sought in consultation with clients and members. Examples include the bank bus, periodic agency sessions in community buildings and the establishment of bank counters in shops.With the aid of an internal support fund for cash dispensing machines, Rabobank installs and/or maintains cash dispensing machines in locations where they are socially desirable rather than economically justified. Due to changing needs, clients are increasingly using direct channels such as the Rabofoon and Internet banking. As a result, financial services have partly shifted from the bank office to clients' homes. In the year under review, this development led to a decrease in staff numbers at the local Rabobanks of approximately 5%. Staff numbers are expected to decline further in 2003. The Rabobank was the first financial institution in the Netherlands to be on the Internet, in December 1994. At the time, there were a mere ten thousand Internet users in the whole of the Netherlands. Today, the website is one of Europe's most frequented Internet banks, with more than 1.3 million hits in December. With over 1 million online clients, Rabobank is also the largest Internet bank by far in the Netherlands. Of the active Internet clients, 86% are private individuals and 14% are business clients. Interest in virtual banking (Internet and telephone) again increased substantially in 2002.Virtual banking is available for payments, savings and securities transactions.The number of contracts for Internet banking and the Rabofoon increased by 55% and 20% respectively. In order to offer optimum quality of products and services for virtual banking, the Rabobank regularly measures clients' appreciation for this service. Compared with the other banks in the Netherlands, Rabobank has the highest average customer value score of 8.6 for telebanking, telesaving and Internet saving.

Rabobank Bronnenarchief

Annual Reports Rabobank | 2002 | | pagina 29