Real estate
Growth in loan portfolio, decline in property under development
Conditions in the property market remained poor in 2009. Although Rabo
Real Estate Group was in relatively good shape and maintained its market
positions, all divisions saw low growth in volumes owing to the state of the
economy. Correspondingly, there were fewer residential property develop
ments. Bouwfonds Property Development sold 7,341 homes during the
year under review, compared with 8,746 in 2008. At MAB Development
there was a fall in the construction of commercial real estate from EUR 393
million to EUR 254 million. At FGH Bank, the loan portfolio increased by
5% to EUR 17.2 billion, margins on new loans increased, and bad debt
costs were up. Assets under management rose by 2% at Bouwfonds REIM
to EUR 7.0 billion. Despite the tough conditions in the property market,
Rabo Real Vastgoedgroep saw its net profit rise by 7% to EUR 92 million.
Developments were also seen in the areas of sustainable building, ethical
and responsible business practices, and commitment to society.
www. ra bo rea lestateg ro u p.co m
Number of homes sold down 16% to 7,341
Loan portfolio up 5% to EUR 17.2 billion
Assets under management In real estate up 2% to EUR 7.0 billion
Net profit at Rabo Real Estate Group up 7% to EUR 92 million
- Bad debt costs at 14 basis points
Share in Rabobank Group's
net profit for 2009
Real estate 4%
Rabobank Group strategy
Contribution to group strategy
All-finance market leader in the Netherlands
- Maintaining and strengthening its leading position in the markets for owner-occupied
homes and commercial real estate
- Increasing sales of Rabobank mortgages for new build developments
- Maintaining our market lead in property financing
- Increasing knowledge of real estate
- Offering various real estate-related funds to Rabobank clients
International food and agri bank
- Setting up and expanding agricultural real estate funds through Rabo FARM
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Report 2009 Rabobank Group