tion is translated into devising new innovative
solutions for clients, focus on young agricultural
entrepreneurs and more research into clean
energy.
Rabobank, in close collaboration with Eureko/
Achmea, will expand its insurance services for
clients. In response to the tightening of the
margins on mortgages and corporate lending,
there will be stronger focus on cost reduction
in order to maintain future profitability.
For more information
www.rabobank.nl
www.obvion.nl
www.bizner.nl
Results (in EUR millions)
2006
2005
change
Interest
4,226
4,202
1%
Fees and commission
1,259
1,205
4%
Other income
66
24
175%
Total income
5,551
5,431
2%
Staff costs
2,118
1,990
6%
Other administrative expenses
1,607
1,581
2%
Depreciation
152
164
-7%
Operating expenses
3,877
3,735
4%
Gross profit
1,674
1,696
-1%
Value adjustments
139
175
-21%
Operating profit before taxation
1,535
1,521
1%
Taxation
444
497
-11%
Net profit
1,091
1,024
7%
Risk-related costs (in basis points)
10
14
-29%
Efficiency ratio
69.8%
68.8%
Balance sheet (in EUR billions)
31-Dec-06
31-Dec-05
Total assets
242.4
219.8
10%
Private sector lending
220.9
200.7
10%
Savings
80.5
77.7
4%
Risk-weighted assets
143.2
132.8
8%
FTEs
29,375
28,909
2%
Market share
Mortgages
25.5%
23.0%
Savings
39.3%
39.4%
SME 38% 38%
Lending by sector
in EUR billions
250
225
2004 2005 2006
Food agri
TIS
Private individuals
Domestic retail banking 35
