10CL_H_H_ S0__H_H_
Leasing
Real estate
Net profit up 21%
in millions of euros
2007
2008
Assets under
management and
held in custody for
clients down 21%
in billions of euros
2007
2008
500
250
400200__^B
300__^B^H_ 150__^B^B_
200__^B_^B_ 100__^B_^B_
0
The decrease in assets under management, which was due
to the fall in share prices, was partly oHsef by the in^ow of
assets. The strong performance ofRobeco's alternative
investments and the gain from the sale of Alex contributed
to the result. Sarasin achieved a record inMow of assets and
received several awards for its outstanding investment
performance.
Asset management and investment
Rabobank Group's asset management business is
handled by Robeco, an asset manager with global
operations, as well as by the Swiss private bank
Sarasin and by Schretlen Co, the Dutch private
bank.Together, these entities employ around 3,600
FTEs. Rabobank Group has a 46% stake in Sarasin
and a voting share of 69%.
Net profit unchanged
in millions of euros
2007
2008
Loan portfolio up 13%
in billions of euros
2007
2008
De Lage Landen reported satisfactory growth, with higher
margins on new contracts. The lease car portfolio increased
by 6% to 211,000.
De Lage Landen's customer focus earned it the 'Vendor
Lessor of the Year Award'.
De Lage Landen is responsible for Rabobank
Group's leasing business. Asset financing products
help manufacturers, vendors and distributors to
boost sales in more than 30 countries all over the
world. In addition, De Lage Landen operates its
international car lease business Athlon Car Lease in
eight European countries. In the Dutch home
market, De Lage Landen offers a broad range of
leasing and trade financing products. Through the
Freo brand, among others, it supports Rabobank
Group's efforts to be the Dutch market leader in
consumer credits. De Lage Landen employs
around 4,700 FTEs.
Net profit for Rabo
Real Estate Group
down 65%
in millions of euros
2007
2008
Loan portfolio up 22%
in billions of euros
2007
2008
250
25
20
As a result of worsened market conditions, Rabo Real Estate
Group sold fewer owner-occupied houses: 8,746, down
from 13,173 in 2007.
The loan portfolio grew further and the margin on new
financings was higher. Real estate assets under manage
ment were up 35% to EUR 6.8 billion.
Rabobank Group's private and corporate real
estate activities are performed by Rabo Real Estate
Group. This real estate enterprise focuses on three
core businesses: the development of owner-
occupied houses and commercial real estate,
finance and asset management. In these markets,
Rabo Real Estate Group operates under the brands
Bouwfonds Property Development, MAB
Development, FGH Bank and Bouwfonds REIM.
Rabo Real Estate Group employs more than 1,700
FTEs and operates mainly in the Benelux countries,
Germany and France.
5
Rabobank Group at a glance
