1
"I
Of the private sector loan portfolio, 75% of loans were granted in the Netherlands, 9% in
European countries other than the Netherlands, 11% in America, 4% in Australia and New
Zealand, and 1% elsewhere.
Drop at Rabobank International causes amounts due to customers to contract
Breakdown of amounts
350
due to customers
300
in billions of euros
250
Other
200
Corporate time deposits
150
Current accounts/
100
settlement accounts
50
Savings deposits
0
Amounts due to customers
by group entity
year-end 2009
Domestic retail banking 65%
Wholesale banking and
international retail
banking 30%
Asset management and
investment 5%
2005 2006 2007 2008 2009
In 2009 the local Rabobanks attracted more client deposits from retail and corporate clients.
However, due to a drop at wholesale banking amounts due to customers were down 6% at
group level to EUR 286.3 (304.2) billion.
Increase in savings deposits at local Rabobanks in particular
Breakdown of savings deposits 140.
in billions of euros 120.
Time deposits 120.
Deposits on demand 80_
60
40
20
0
2005 2006 2007 2008 2009
Savings deposits by group entity
year-end 2009
Domestic retail banking 90%
Wholesale banking and
international retail
banking 6%
Asset management and
investment 4%
Savings deposits, the largest and most important component of amounts due to customers
for Rabobank Group, were up 6% to 121.4 (114.7) billion thanks mainly to retail clients making
more savings deposits to the local Rabobanks. Interest rates on retail time deposits, which
are linked to changes in short-term interest rates more so than the rates on variable savings
deposits, dropped sharply. As this made variable savings a more interesting alternative for
clients, their share in total savings deposits saw a substantial rise. Of the savings deposits,
EUR 7.3 (6.6) billion was contributed by the Direct Banking activities in Australia, Belgium,
Ireland and New Zealand. The number of clients using these foreign online banks rose by
12% to 327,000.
Equity
in billions of euros
35
Other non-controlling interests 5fL
Hybrid capital 25_
Rabobank Member certificates 20_
Reserves and retained earnings 15
10
2005 2006 2007 2008 2009
Equity up thanks to retained earnings and issues
Rabobank Group's equity increased by 14% in 2009,
rising to EUR 38.1 (33.5) billion, which was mostly
attributable to the retention of earnings and the issue of
hybrid capital instruments. Of equity, 58% is comprised
of reserves and retained earnings, 17% of Rabobank
Member Certificates, 16% of hybrid capital and 9% of
other non-controlling interests.Total hybrid capital
increased by EUR 2.7 billion on balance as a result of
issues of Capital Securities and the repurchase of some
Trust Preferred Securities III.This capital was raised in
euros, New Zealand and US dollars, and Swiss francs.
13
Financial developments