Strategy for Rabobank International In line with Rabobank Group's strategy, Rabobank International has made a clear choice for food and agri, while aiming for a global network for both its wholesale and its rural retail banking activities in the main agricultural countries. By serving both the high end of the corporate market and clients in the Netherlands with international operations, it supports Rabobank's strengthening of its all-finance market leadership. Ways to improve and enlarge the food and agri product range will include collaboration with Rothschild investment bank. The international retail banking business continued to grow, particularly in the core countries Australia, New Zealand, the United States, Brazil and Poland. The business model for Global Financial Markets was adjusted, with stronger focus on Rabobank's core clients while reducing the number of complex products. Product specialisations in the areas of sustainable energy and clean technology will be developed further. New governance structure at Rabobank International Rabobank International adjusted its governance structure in 2009 following the updated strategy whereby Rabobank wants to be the leading food and agri bank. A clear division has been created between the areas of operation of the retail bank and those of the wholesale bank to offer client groups even better services. They each have their own management team. Rabobank as an international food and agri bank As a leading food and agri bank, Rabobank aims for a strong presence in the world's key agri cultural countries. For growth in food and agri, Rabobank International focuses on broadening its product range and on making its knowledge available to food and agri clients around the world. Other focus areas are expansion of its retail banking activities in important, developed agricultural countries such as the United States, New Zealand and Australia. In addition, Rabobank International focuses on emerging countries with a fast-growing food and agri sector, such as Brazil. Rabobank has bundled its food and agri knowledge in Food Agribusiness Research and Advisory. This global operation supports transactions in various stages, provides loan proposals, contributes to merger and acquisition proposals, generates ideas for new products and issues publications continuously on relevant developments within the sector. In 2009, its publications included reports on the post-crisis milk market and on global demand for cotton, coffee and sugar. It also drew a food and agri map of Poland. International retail banking Rabobank International has retail banking operations in Europe, North and South America, Asia, Australia and New Zealand. The retail banks in Australia, New Zealand, Brazil and Chile virtually exclusively have food and agri clients.The retail branches in California, Poland, Ireland and Indonesia also serve retail and SME clients. Rabobank's food and agri clients in Australia and New Zealand are served from 83 branch offices. Besides loans to the agricultural sector, activities include banking services to middle segment enterprises related to the food and agri sector and offering financial products and services to large cooperatives and enterprises in the food and agri industry. Rabo Financial Advisors, a small non-core activity in our Australian operations offering financial planning services, was sold to Hillross Financial Services in 2009. In the United States, Rabobank International has a retail banking network comprising 92 branch offices in California. In addition, agricultural clients are served from Rabo AgriFinance's seventeen branch offices. In Brazil, food and agri clients are served from fifteen branch offices, and in Chile from nine. Rabobank has had a presence in Mexico since 1993, funding larger agricultural businesses in particular. By taking an equity interest in FinTerra, Rabobank has now also gained access to smaller agricultural undertakings. This interest was increased from 25% to 37.5% in 2009; Rabobank also acquired an option for a future majority interest. FinTerra has 13 branches, which focus exclusively on food and agri loans. In Poland, Bank BGZ is one of the biggest and most important players in the agricultural sector, serving clients from 291 branch offices. Besides food and agri clients, this retail bank focuses on private clients and the small and medium-sized enterprises sector.The Irish ACCBank has traditionally had close links with rural communities and it operates in the market for real estate finance. Developments in the real estate market have led to the decision to reduce these activities. 26 Report 2009 Rabobank Group

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Annual Reports Rabobank | 2009 | | pagina 27