Ambitions and outlook
For the Corporate Banking activities, it is anticipated that the margins will increase because
of the higher prices to be paid for risks. Telecom Media Internet intends to wind down its
activities in North America further and sees opportunities for growth in Asia, Latin America
and Central and Eastern Europe. Trade Commodity Finance expects further growth in 2008.
Global Financial Markets intends to adjust its organisation and its activities following the
changes in market conditions as a result of the turmoil in the financial markets.
Leveraged Finance expects fewer transactions for 2008.
This year, the international retail banking business will focus on organic growth.
The integration of the recently acquired retail banks with the existing activities will be a
point of focus. The retail banking business should grow further by attracting new clients and
offering new products. The Polish government, which is a co-shareholder in Bank BGZ,
has indicated that it wishes to float its shares. Accordingly, Rabobank Group might increase
its interest in Bank BGZ to a majority interest in 2008. Strong growth in savings is expected
for the Direct Banking activities. A fifth foreign Internet bank will be opened in 2008.
56
Rabobank Group Annual Report 2007
