Private banking
The 'entrepreneur in private'
Small and medium-sized enterprises
Food agri
Clients worth over EUR 80,000 can become private banking client at the local Rabobanks.
Such clients get their own account managers and have the benefit of tailored service packages.
In the year under review, Rabobank Group's subsidiary Schretlen Co came first on the list
of most valued private banks in the Netherlands, just outstripping Rabobank Private
Banking, which came second. In this survey, clients of the local Rabobanks rated their
satisfaction with a score of 7.2 (7.2).
Each year, Rabobank itself too, measures customer satisfaction among its private banking
clients. In 2007, customer satisfaction was awarded a score of 7.5 (7.6). Clients appreciated
the bank's expertise, reliability, customer-friendly processes, the many possibilities for
reaching Rabobank, its leading products and transparent customer information. According to
clients, customer satisfaction would be able to improve even further if the local Rabobanks
were more proactive and effective by addressing the right subject at the right time.
There was a strong increase in the number of self-employed persons without personnel in
the Netherlands in 2007. In Rabobank's view, this offers opportunities for combining services
to small enterprises and the private individuals owning them. By serving clients with both
corporate and private banking needs as one - the 'entrepreneur in private' - the local
Rabobanks are able to offer broader options to the client. The client's private financial affairs
can be properly aligned with those of his or her enterprise and vice versa. Many new
enterprises that become new corporate clients are owned by individuals who already are
private clients of Rabobank. Under the 'Entrepreneur in Private' programme, such services
were supported in 2007 by campaigns including 'Your Financial MOT' and 'Private Banking
for Entrepreneurs'. This programme contributed to a rise in the number of entrepreneurs
who are also private banking clients from 111,000 to 162,000.
Rabobank Group is continually researching developments among small and medium-sized
enterprises. 'Figures and Trends' is one of Rabobank's publications in which it maps relevant
current trends for its SME clients on a quarterly basis. The October issue of this quarterly
update focused on developments in the area of sustainability in various SME sectors.
In 2007, Rabobank introduced the Rabo Vermogen Versterkingslening. This subordinated
loan is intended especially for fast-growing SMEs and is part of the Regeling Groeifaciliteit
(growth facilitating arrangement) of the Dutch Ministry of Economic Affairs. The Rabo
Vermogen Versterkingslening gives clients access to supplementary risk-bearing capital,
enabling SME clients to borrow amounts between EUR 0.5 million and EUR 5 million.
Compared with 2006, customer satisfaction among SME clients was higher.
SME entrepreneurs value personal attention through good contacts with their account
managers or advisors.
Services to small businesses improved. They appreciate the speed of our response by
telephone and feel welcome at Rabobank. This client group would like to see greater
transparency in bank charges, however. Relationships with the larger SME clients remained
good. This entrepreneurial group is enthusiastic about their account managers, as a result of
which they feel committed to Rabobank.
The agricultural sector and its related sectors are important customer groups to Rabobank
Group. For the best possible service to these food agri clients, Rabobank Group has
bundled its expertise, service provision and marketing communication into its Food Agri
department. Collaboration in agricultural marketing between local Rabobanks is increasing
as well. At year-end 2007, a quarter of the market was served through these supralocal
collaborative organisations. Tailored product proposals and knowledge products such as
studies and visions enable account managers at local Rabobanks to give clients the best
possible service.
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Rabobank Group Annual Report 2007
