Leasing
Strategy and targets
Net profit benefits from organic growth and Athlon acquisition
Net profit for De Lage Landen, Rabobank Group's lease subsidiary, grew by 14%
to EUR 234 (206) million in 2007. The Car Leasing and Financial Institutions units
both saw strong growth in 2007. In order to improve its service to clients with
global operations, De Lage Landen worked hard at further standardisation of its
business processes in the year under review. Athlon, which had been acquired in
2006, was integrated further with Translease. Among car lease clients,
satisfaction with the services continued to grow. Since August 2007, De Lage
Landen has also been providing consumer loans under the new Freo label.
www.delagelanden.com
Share in Rabobank Group's net profit
in
Leasing
9%
De Lage Landen offers flexible asset financing products in order to help producers, vendors
and distributors in Europe, the Americas, Asia/Pacific, Australia and New Zealand market
their products. De Lage Landen is represented in 29 countries and provides competitive
benefits for all its clients. With its innovative finance programmes, De Lage Landen helps its
partners distinguish themselves in a competitive market environment.
In its Dutch home market, De Lage Landen offers a broad range of
lease and trade financing products directly to the market and to
clients of the local Rabobanks. Athlon Car Lease has been a part
of De Lage Landen since 2006. Athlon Car Lease is an
international supplier of operating car leasing, with operations
in seven European countries. From January 2007, De Lage
Landen has been operating as Rabobank Group's centre of
competence for all Consumer Finance activities in the Dutch
market. De Lage Landen employs around 4,600 staff.
Loan portfolio up 10% to EUR 20.7 billion
- Car lease contracts up 9% to 205,000
- Consumer loans up 42% to EUR 0.9 billion
Net profit up 14% to EUR 234 million
- Income up 18% to EUR 995 million
- Operating expenses up 20% to EUR 594 million
- Efficiency ratio inclined by 1.0 percentage points to 59.7%
- Value adjustments at 61 basis points, below the five-year average
- Risk Adjusted Return On Capital 21.0%
- To offer financing solutions world-wide for producers and/or distributors of capital assets.
- To serve local Rabobanks and Rabobank International with a broad range of leasing and
factoring products.
- To be the most client-centred car lease business in all countries where De Lage Landen has
car leasing operations.
- To strengthen Rabobank Group's position in consumer credit in the Netherlands.
- Annual net profit growth of 10 to 15%.
63
Report of the Executive Board
