AmbitiQns and QutlQQk
Results (in millions of euros)
2007
2006
Change
Interest
82
86
Fees and commission
1,089
648
Other income
308
102
Total income
1,479
836
77%
Staff costs
581
330
Other administrative expenses
386
210
Depreciation and amortisation
24
11
Operating expenses
991
551
80%
Gross result
488
285
71%
Value adjustments
1
Operating profit before taxation
487
285
71%
Taxation
125
62
102%
Net profit
362
223
62%
Number of orders in the Netherlands (in millions)
7.6
8%
Assets managed and held in custody (in billions of euros)
31-Dec-07
31-Dec-06
For clients
232
219
6%
Investment portfolio
69
72
-4%
Total
301
291
3%
Number of employees (in fte)
3,468
3,126
11%
RübecG aims tü attract new clients by launching several innüvative investment prüducts and
services, while maintaining a strong investment perfQrmance as a priQrity. New clients will
be reached by broadening the distributiQn netwQrk. RQbecQ intends tQ enhance its
distributiQn in Greater China by opening a number Qf retail Qffices. FQr 2008, it plans tQ Qpen
branches in Singapore and Taiwan. Further growth fQr EurQpean branches shQuld be organic.
Sarasin expects tQ grow its business in 2008 further. A growing propQrtiQn Qf incQme is
expected tQ cQme frQm internatiQnal activities. In this cQntext, Sarasin intends tQ further
strengthen its presence in the Middle East and Qther key markets.
Schretlen Cq's custQmer base is expected tQ grow as a result Qf a better respQnse tQ
private banking clients' needs. Besides growth in the number Qf new clients as a result Qf the
cQllabQratiQn with the lQcal RabQbanks, Schretlen Cq alsQ expects tQ attract a large
number of clients externally.
62
Rabobank Group Annual Report 2007
