Leasing
Despite a lower margin, the net profit of De Lage Landen,
Rabobank Group's leasing subsidiary, grew by 16% in 2006 to
EUR 206 (178) million, with the good collaboration with local
Rabobanks and Rabobank International clearly contributing
to the result.
De Lage Landen
Partly as a result of the acquisition of Athlon,
which was added to the existing activities
from the second half of 2006, the lease
portfolio grew by 23%. Thanks to continued
growth of its lease portfolio, De Lage Landen
expanded its solid position in Europe and
the United States. After the acquisition of
Athlon, the combination with Translease is
the number two in the Dutch car lease
market. In addition, a strong position was
created for the further development of the
existing car lease activities in Europe and
the establishment of car lease activities in
Central Eastern Europe.
Market and clients
Organisation adjusted to new activities
Strategy and targets
Despite much stronger competition and a high liquidity
volume in the market, both of which put pressure on inte
rest margins, De Lage Landen succeeded in maintaining
growth in its activities in 2006. It extended its network to
Russia with the acquisition of a small, Moscow-based lease
company. Economic conditions in Argentina improved,
enabling De Lage Landen to restart activities in that country.
The acquisition of Athlon constituted a significant expan
sion of the car lease activities. Within Rabobank Group, it
was decided that De Lage Landen was to be the centre of
competence in the area of consumer credit. In addition,
De Lage Landen aims at strengthening its position as
Rabobank's factoring specialist.
De Lage Landen now has four core activities, each in a
separate organisational entity: Vendor Finance, Car Leasing,
Consumer Finance and Factoring. Vendor Finance offers
Offering f nancing solutions world-wide for producers and/or
distributors of capital assets, for example via international
collaborative ventures.
Be the most client-centred car lease business in Europe.
Be a centre of competence in consumer credit within
Rabobank Group.
Serve local Rabobanks and Rabobank International with a
broad range of leasing and factoring products.
- Annual net proft growth of 10 to 15%.
Leasing 51
