Notes to the balance sheet Total lending Lending by sector Lending by operating unit Financial developments 13 Rabobank Group's consolidated total assets grew by 8% in 2003 to EUR 403 billion. Lending to the private sector increased by 11%. Savings were more popular than investments, as was the case in 2002, increasing by 8% in 2003.The Tier I ratio was 10.8. Total lending by Rabobank Group increased by 11% in 2003 to EUR 251 (225) billion.This total comprises: - lending to the public sector; - professional securities transactions; - lending to the private sector. In 2003, lending to the public sector increased by EUR 1.4 billion to EUR 2.2 billion.The volume of professional securities transactions was EUR 13.2 (12.1) billion. Lending to the private sector - private individuals, the agricultural sector and trade, industry and services - rose to EUR 235 billion.This represents an 11% increase, 3% of which were due to acquisitions.Organic growth in lending was 8%,a significant increase under the circumstances. - Trade, industry and services At year-end 2003, amounts borrowed by corporate clients in the trade, industry and services sector was up 7%, or EUR 5.5 billion, compared with year-end 2002.Total loans granted to this sector amounted to EUR 81.3 billion. - Food and agricultural sector At year-end, lending to the food and agricultural sector was 9% higher than a year ago.Total loans granted to the food and agricultural sector amounted to EUR 36.6 (33.4) billion, of which EUR 24.2 (20.2) billion was granted to the primary agricultural sector and EUR 12.4 (13.2) billion to the international food and agricultural sector. - Private individuals Total loans to private individuals amounted to EUR 117.5 (103.0) billion, EUR 14.5 billion higher than in 2002, an increase of 14%. Mortgage loans at EUR 116.1 (99.8) billion accounted for the greater part. Of the total lending to the private sector of EUR 235.4 billion, EUR 164.4 billion was granted by retail banking operations, i.e. the local Rabobanks. Their share of Group lending was 70%. Wholesale banking accounted for 20%, or EUR 47.9 billion, of Group lending, while other units contributed EUR 23.1 billion. Lending by sector Lending by operating unit Agricultural sector Wholesale banking 20% "rade, industry and services Other Private individuals

Rabobank Bronnenarchief

Annual Reports Rabobank | 2003 | | pagina 17