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