Wholesale banking and international
retail banking
Partly due to the increase in lending in the international retail banking business,
the loan portfolio increased by 11 in 2008, to EUR 100.7 billion. The phasing-out of
activities in the financial markets resulted in a lower increase of total assets. Savings
at the Direct Banking activities were 30% higher, at EUR 6.6 billion. The volume of
international retail banking activities increased because we increased our stake in
the Polish Bank BGZ to a 59% majority interest. The financial crisis caused wholesale
banking and international retail banking's net profit decreased from EUR 334 million
to EUR 27 million. Particularly, results from Global Financial Markets and the
impairment losses suffered negative effects. Income from the international retail
banking activities were 34% higher, at EUR 864 million.
Strategy
www.rabobank.com,www.bgz.pl,www.accbank.ie
Share in Rabobank Group's
net profit for 2008
in
Net profit down due to financial crisis
Private loan portfolio up 11% to EUR 100.7 billion
Savings at the Direct Banking activities up 30% to EUR 6.6 billion
Net profit down 92% to EUR 27 million
- Efficiency ratio 0.7 percentage points higher, at 85.5%
- Impairment losses at 93 basis points; higher than the
long-term average
- RAROC 0.5%
Wholesale banking and
international retail banking 1%
Strategy of Rabobank Group
Contribution to Group strategy
All-finance market leadership in the Netherlands
- Serving the top end of the corporate market in the Netherlands
- Support to internationally active Dutch clients
- Product supplier through local Rabobanks
- Providing risk-bearing capital
Global food agri bank
- Broaden the product range and make knowledge available to food agri clients
- Expansion of retail banking network in important food agri regions
- Further development of sustainable energy and clean technology as product
specialisations
Rabobank aims to be the pre-eminent global food agri bank, with a focus on renewable energy and
clean technology. Rabobank International intends to address this further and to broaden and deepen its
product range for the food agri market. Examples include the recent collaboration agreement with
Rothschild in the area of mergers and acquisitions advice to the food agri sector.
34
Rabobank Group Annual Report 2008
