growth opportunities in Europe and Asia/Pacific, possibly through minor acquisitions.
A branch will be opened in Portugal in 2008. In addition, De Lage Landen intends to start
leasing activities in the Baltic states this year.
For 2008, Vendor Finance is planning further standardisation of its business processes in
order to improve its services to clients with global operations. The integration of Athlon and
Translease will be completed in 2008. Opportunities in Car Leasing for synergies between
the various countries and other units within De Lage Landen will be leveraged.
The acquisition of Siemens Leasing and Siemens Finance offers a good platform for further
expansion of the Car Leasing activities in Central and Eastern Europe. Consumer Finance
intends to strengthen Rabobank Group's position in the consumer credit market.
In Factoring, the credit assessment process will be automated further.
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Report of the Executive Board
