I
I
Savings
Market share decline
Shift to Internet savings
Rabobank distribution policy
Rabobank is and remains the bank-near-you
Service Shops
32 Rabobank Group Annual Report 2003
mortgage loans. In this way, Rabobank aims at familiarising elderly people
with the new forms of electronic services. Local banks themselves
organise training meetings as well. Last year, some 60,000 elderly people
used these extra services.
Rabobank Group's market share in savings declined by more than 1% in
the year under review, to more than 38%, mainly because the group did
not manage to take full advantage of the release of company savings
scheme accounts. Savings accounts with the local banks nevertheless
grew, by 9% to EUR 65.8 (60.6) billion.Of the total savings in the
Netherlands, 35% are held by the local Rabobanks and 3% by Roparco,
the savings arm of Robeco Group.
Rabobank clients have a choice of savings options: the Rabo Return
Account via its office network, Rabo Telesavings via the telephone and
Rabo Internet savings via Internet. The share of Internet savings in the
total savings amount at the local Rabobanks has increased enormously
over the past few years. Currently, 41% of savings is held on an Internet
savings account.
Rabobank's policy is to be and to remain the undisputed bank-near-you
in the Netherlands. Even if the number of local banks is reduced by
mergers, Rabobank will maintain its closely-knit network, which has the
highest number of points of contact for clients in the Netherlands.This
is illustrated by the way in which the Bank responds to the changes in
the market and the changing preferences of individual and groups of
clients. For example, the reduction in physical services as a result of
- among other things - the ever-increasing popularity of electronic
banking services, is compensated by an increase in the number of cash
dispensing machines and service points.
Actions under the bank-near-you policy included increasing the number
of Rabobank Cash Points in shops and the establishment of Service
Shops in a number of small communities, which was initiated by
Rabobank and implemented in co-operation with local and regional
authorities and institutions.
In the year under review, the first Service Shop was opened in Epen, a
small town in the south of the province of Limburg.The idea behind the
Development per savings channel
as a percentage
100
80
60
40
Rabo Return Account
20
Rabo Telesavings
0
Rabo Internet savings
Rabobank celebrates its
1.25 millionth member.
2000 2001 2002 2003