Financial results Rabobank Group
Results (in millions of euros)
Interest
Fees.and commission
Other income
Total income
Staff, costs
Other administrative expenses.
Depreciation and amortisation
Operating, expenses
Gross, result
Value adjustments
Operating, profit, before taxation.
Taxation
Net profit
2009
2008
Change
8,046
-6%
8,517
2,5752,889. 11%
1,246 246
11,867 11,652
3,869 4,290.
2,908 2,796
5.27, 5,25.
7,304 7,611
4,563 4,04.1
1,959 1,189
2,604 2,852
98
.316
2,288 2,754
.2%
-.1.0%
4%
0%
4%
13%
.65%
-9%
-1.7%
Bad deht.costs (in basis points).
48
.31
Ratios
Efficiency, ratio
Return on equity
RAROC
.6.1.5%
7.5%
.1.0.3%
...65.3%
9.7%
...1.2.5%
Balance sheet (in billions of euros)
Total assets
Privatesector.loan portfolio
Amounts, due to. customers
31-Dec-09
607.7.
31-Dec-08
415.7 4.08.6.
286.3. 304.2
612.1-.1%
2%
-.6%
Capital requirements (in billions of euros)
Capita I requirement
Economic capita I
18.7.
.22.0
1.9.0.
22.3
-2%
-1%
Capital ratios
BIS ratio.
Tier 1 ratio
Number of employees (in ETEs)
14.1% 1.3.0%
13.8%
12.7%
.59,31.1.60,568
-2%
Income up 2%
Rabobank Group's total income was up 2% to EUR 11,867 (11,652) million in 2009, thanks to an
increase in other income which was related to rising trading income at the wholesale banking
division, the repurchase of debt securities and improved financial performance by Eureko, an
associate. The settlement between Eureko and the Polish government in the matter of Polish
insurer PZU, in which Eureko has an equity interest, had a positive effect on earnings. Other
income was up by EUR 1,000 million to EUR 1,246 (246) million on balance.The local Rabobanks
and Robeco Direct saw their savings margins drop due to fierce competition on the savings
market. This had a major impact on interest income, which fell by 6% to EUR 8,046 (8,517)
million. On the upside, interest income increased because of a recovery of the margins on new
mortgage loans, business loans, lease transactions and property loans.The local Rabobanks
experienced a decline in commissions from treasury services. At group level, this was a factor
in the 11 drop in commission income to EUR 2,575 (2,889) million.
15
Financial developments
