- Private individuals
Lending by operating unit
Other liability items
Increase in Group equity
50 Rabobank Group Annual Report 2002
billion was granted to the primary agricultural sector and
EUR 13.2 (12.9) billion to the international food agri-business sector.
Total loans to private individuals amounted to EUR 103.0 (92.1) billion,
EUR 10.9 billion higher than in 2001 and an increase of 12%.
Mortgage loans accounted for the greater part, EUR 99.8 (88.3) billion.
Retail banking 70%
Wholesale banking 23%
Of the total of EUR 212.3 billion in loans to private individuals,
EUR 150.4 billion was granted by the retail banking business, made
up of the local Rabobanks.Their share of total lending is 70%.The
wholesale banking business accounted for EUR 47.8 billion of loans
granted, 23% of the total.The other units accounted for EUR 14.1
billion of lending by the Group.
The item banks comprises the funds loaned to credit institutions.
In 2002, this item increased by EUR 7.1 billion to EUR 47.2 (40.1), of
which EUR 40.1 (28.4) billion related to professional securities trans
At the end of 2002, Rabobank Group's balance sheet included
EUR 71.3 (78.7) billion worth of interest-bearing securities. EUR 11.1
(12.6) billion had been invested in shares and EUR 1.8 (5.3) billion in
short-term government paper.
Funds entrusted to Rabobank Group - savings, professional securities
transactions and other funds entrusted - declined marginally in
2002, by EUR 0.6 billion to EUR 171.6 billion. At end 2002, the volume
of savings was EUR 66.3 (63.1) billion, up 5%. After their significant
increase in 2001, savings rose in 2002 as well.The unfavourable
stock exchange climate and the economic uncertainty caused many
clients to opt for a secure savings account. Professional securities
transactions amounted to EUR 6.0 (8.5) billion. Other funds entrusted,
including business balances on current accounts and private balan
ces on payment accounts, declined by EUR 1.3 billion to EUR 99.3
The item banks increased by 7% to EUR 85.9 (80.0) billion.The item
debt securities grew by 6% to EUR 61.7 (58.5) billion. At the end of
2002, provisions amounted to EUR 18.3 (18.3) billion. Of this amount,
EUR 15.4 (14.5) billion related to Interpolis' technical reserves.
Rabobank Group's reserves increased by EUR 1.9 billion to EUR 14.9
billion.This was the outcome of the addition of the issued Member
Certificates and net profit on the one hand and the write-down
in connection with the payment of goodwill on the other. At the
end of 2002, Group equity amounted to EUR 21.2 billion, an increase
of EUR 2.8 billion. In addition to reserves, this item comprises sub
ordinated loans, the fund for general banking risks and third-party