1
Real estate finance
Loan portfolio up 31% to EUR 13.5 billion
FGH Bank's new granted loans reached a record of EUR 6.3 billion
in 2007. The gross loan portfolio grew by 31% in 2007, to
EUR 13.5 (10.3) billion. The net loan portfolio, after syndications,
grew by 33% to EUR 12.5 (9.4) billion. Repayments amounted to
EUR 2.0 billion. Investment financing makes up the greater part of the portfolio: 73%. In June
2007, EUR 3.0 billion of FGH Bank's loan portfolio was securitised.
Real estate investment management
Assets managed in real estate up 21% to EUR 5.1 billion
CSR in core activities
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FGH Bank does business with professional parties in real estate. These mainly include
investors, traders, project developers, construction companies and real estate funds in the
Dutch commercial real estate market. Clients of this division typically seek a financier that
specialises in real estate financing and that, based on its detailed market and financing
expertise, acts as a sparring partner in the development of financing structures. FGH Bank,
through its subsidiary FGH Vastgoed Expertise, also offers real
estate advisory services besides financing. Nederlandse
Hypotheekbank and Rijnlandse Hypotheekbank serve clients
operating in the middle segment of the real estate market,
typically in conjunction with brokers but also through
direct channels.
Bouwfonds Asset Management is especially involved in structuring, placing and managing
unlisted real estate funds and real estate related financial products for private and
institutional investors.
Assets managed by Bouwfonds Asset Management grew by 21% in 2007 to EUR 5.1 (4.2)
billion. The increase was due in part to the expansion of the Bouwfonds US Residential Fund
for institutional investors and to the contribution of houses to the Woning Dispositie Fonds.
Early in 2007, private individuals subscribed en masse to the Bouwfonds Germany
Residential Fund IV, and the subscription had to be closed prematurely. The issue of
Bouwfonds Germany Residential Fund V followed later in the year. Subscription to this
limited partnership was open also for private banking clients of the local Rabobanks.
Rabo Bouwfonds embeds corporate social responsibility in its core activities: development,
finance and investment management. For example, in 2007 all new housing projects were
put in a software package that enables control of sustainability, living comfort and quality
during development. By offering 'sustainability financing' in the near future, FGH Bank
intends to stimulate sustainability in building. Investment management researched the
possibilities of turning a number of funds, e.g. the housing fund for the elderly and the
European housing fund, into energy-friendly funds.
In 2008, a harmonised code of conduct will be implemented that is tailored specifically to
Rabo Bouwfonds, while being fully in line with Rabobank Group's ethical principles.
Through its non-profit Fondsenbeheer, Rabo Bouwfonds makes facilities and staff available for
a sustainable living environment. Bouwfonds Fondsenbeheer supplies the management of four
public/private funds for nature development, listed buildings, urban renovation and industrial
heritage in the Netherlands. In 2007, the capital of these four funds grew from EUR 2.0 billion to
EUR 2.4 billion.
Loan portfolio 16
in billions of euros 14
12
1
00
o
6
4
2
0
2005
2006
2007
70
Rabobank Group Annual Report 2007
