Rabo International Advisory Services (RIAS) Key figures - wholesale banking Wholesale banking 39 Although not part of the wholesale banking business, Rabo International Advisory Services (RIAS) makes an important contri bution to Rabobank Group's international core activities with its world-wide advisory services. RIAS was created in order to use Rabobank's long-established expertise in financing, co-operative development and agri-business on the international stage, particularly in emerging markets and developing countries in Central and Eastern Europe, Africa, Asia and Latin America. RIAS focuses on restructuring and advising financial institutions that finance farmers and smaller enterprises. It also contributes to the development of sustainable co-operative organi sations. Examples of projects that RIAS was involved in during the year under review include the restructuring of agricultural banks in Egypt and Kirgizskaya SSR, setting up a sugar beet co-operative in Russia and the development of financial instruments for the financing of this co-operative and the processing of sugar beets. With its know-how, RIAS also contributes to the reinforcement of Rabobank International's leading position as an international food and agri-business bank. For example, RIAS advises on the consolida tion and modernisation of large co-operatives that are clients of Rabobank International.The advice provided to these clients concerns such aspects as strengthening their corporate governance and their capitalisation, improving their credit rating and the introduction of a transparent system of payments to members for products supplied by them. RIAS advised a number of co-operative organisations in the United Kingdom, on the basis of which Rabobank International's London office was able to develop new commercial activities. 2003 2002 change Results (in EUR millions) Total income 1,954 1,815 8% Total operating expenses 967 915 6% Operating profit 987 900 10% Balance sheet (in EUR billions) Total assets 257.6 244.5 5% Lending 47.9 47.8 0% Totaal risk-weighted assets 38.8 35.9 8% FTEs* 5,252 4,729 11% including acquisitions

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Annual Reports Rabobank | 2003 | | pagina 43