Ambitions and outlook
The ambition is for all activities to achieve leading
positions in the Dutch real estate market. In
addition, there are operations in a few West
European countries. In 2007, the organisation
of the Real Estate division will be improved to
perfection. A great deal of attention will be
paid to further integration of the various
activities so that the envisaged synergies will
yield maximum benefit. In the Netherlands,
Bouwfonds Property Development will work
closely with Rabo Vastgoed and the local
Rabobanks. In addition, the distribution
network and the selling power of the local
Rabobanks will be leveraged in the coming
year to increase the assets managed as part of
the investment management activities. In other
areas too, will be searched for opportunities
for intensified collaboration with the local
Rabobanks and other Rabobank Group units.
For more information
www.bouwfonds.com
www.rabovastgoed.nl
www.fghbank.nl
www.nhb.nl
www.rijnlandse.nl
Results (in EUR millions)
2006
2005
change
Interest
98
96
2%
Fees and commission
1
1
0%
Other income
145
53
174%
Total income
244
150
63%
Staff costs
55
25
120%
Other administrative expenses
43
15
187%
Depreciation
3
1
200%
Operating expenses
101
41
146%
Gross profit
143
109
31%
Value adjustments
(1)
1
-200%
Operating profit before taxation
144
108
33%
Taxation
40
30
33%
Net profit
104
78
33%
Number of houses sold
14,073
1,767
696%
31-Dec-06
31-Dec-05
Other information (in EUR billions)
Loan portfolio
10.3
7.8
31%
Assets managed and held in custody
4.2
FTEs 1,654 331 400%
Real estate 61
