Expansion of international activities
Bert Heemskerk more than 2 percentage points, to almost 28%. Many new clients opened savings accounts
at the local Rabobanks in 2007, causing our share of the savings market to grow by
almost 2 percentage points to 41%. In the start-up market, Rabobank Group increased its
market share to 38%. Rabo Bouwfonds strengthened its position in the Dutch market for
real estate financing.
As in 2006, much progress was made at the international level. In 2007 we acquired fine
banks in California, Indonesia and Chile. In the summer of 2007, I was a guest at our
wonderful bank in the Brazilian state of Mato Grosso. Rabobank provides sustainable
financing in this region, but under a strict code of conduct. Improper deforestation, or racial
or gender discrimination results in loan refusal. In addition, we increased our interest in the
Polish BGZ Bank and opened our fourth foreign Internet bank, in Australia.
Internationally, Rabo Development continued its development of rural banks in
developing countries in Africa, including Tanzania, Zambia and Mozambique. Paraguay
followed later in 2008.
Rabobank's partner bank in Tanzania uses cash dispensing machines that originate from
our local Rabobanks. As a result, the long queues of people waiting at its doors in order
to make withdrawals should become a thing of the past. Even more importantly, our
Tanzanian partner bank National Microfinance Bank has granted agricultural loans to
thousands of farmers.
11
About the Rabobank Group
