De Lage Landen is Rabobank Group's centre for
vendor finance, leasing and trade finance
activities. It performed well in 2002, both inter
nationally and nationally. Its loans portfolio grew
to EUR 11 billion in 2002. Adjusted for currency
exchange effects, this is an increase of 14%.
Gross profit increased by 11% to EUR 238 million.
Loans portfolio
Increase in gross profit
International activities
Activities in the Netherlands
Leasing
Leasing
Internationally, De Lage Landen concentrates on vendor finance,
offering lease facilities for sales support via the sales channels of
manufacturers and distributors of capital goods.This activity is sup
ported by modern e-business applications. In the Netherlands, this
Rabobank subsidiary focuses on leasing and trade finance products.
Leasing products include equipment leases, real estate leases,
IT leases and car and commercial vehicle leases (Translease).
De Lage Landen's total loans portfolio at end 2002 amounted to
EUR 11.0 (10.6) billion. Adjusted for currency effects, this is an
increase of 14%.Of this amount, EUR 2.6 (2.3) billion related to the
Netherlands division, EUR 3.5 (3.6) billion was attributable to the
Vendor Finance Europe division and EUR 4.9 (4.7) billion to the
Vendor Finance America division.
In spite of the difficult economic situation, gross profit rose 11% to
EUR 238 (215) million.
De Lage Landen now operates in 19 countries in Europe and the
Americas, plus Australia and New Zealand. It concentrates on enter
prises with activities in agricultural machinery, telecommunications,
computers, photocopiers, (internal) means of transport and medical
equipment. De Lage Landen is a global leader in the vendor finance
market. Last year, it added leading businesses to its customer base,
including Philips Medical Systems (USA), IBM Global Finance and
Océ. In addition, Banco DLL Brazil was incorporated to support the
activities in Brazil.
De Lage Landen's strength lies in its fast settlement of standard
lease contracts and its specialist knowledge of objects in various
branches of industry. De Lage Landen's product range is marketed
both through the local Rabobanks and directly. Port of Rotterdam,
Tiscali and Macintosh Group were among the new clients acquired
last year by the Dutch division.
More about leasing? Go to:
www.delagelanden.com
Key figures - De Lage Landen
Results (in EUR millions)
2002
2001
change
Total income
525
475
11%
Total operating expenses
287
260
10%
Gross profit
238
215
11%
Loans portfolio (in EUR billions)
11.0
10.6
4%
- Netherlands
2.6
2.3
12%
- Europe
3.5
3.6
-2%
- America
4.9
4.7
5%
FTEs
2,225
2,036
9%
