Rabobank Group at a glance
Rabobank Group
Rabobank Group is an international financial
services provider operating on the basis of
cooperative principles. It offers retail banking,
wholesale banking, asset management,
leasing and real estate services. Focus is on
achieving market leadership as an all-finance
bank in the Netherlands and on building on
the bank's leading position as a food and agri
bank internationally. Rabobank Group is com
prised of independent local Rabobanks and
Rabobank Nederland, their umbrella organi
sation, as well as a number of subsidiaries
and associates. Rabobank Group's employee
base numbers approximately 59,000 FTEs,
which are spread over 48 countries.
Net profit at
EUR 2,288 million
in millions of euros
2,000
1.000
Loan portfolio up 2%
in billions of euros
3,500
350
3,000
300
2,500
250
150
Bad debt costs increased at Rabobank
Group due to the poor economic situation.
The drop in activity level led to cost cuts
throughout the group. The tier 1 ratio
increased by 1.1 percentage point to 13.8%
in 2009 due to retained earnings and the
issue of hybrid capital instruments.
The economic situation caused demand for
loans to drop, with lending growth levelling
off, particularly in the second half of2009.
Businesses and retail clients deposited more
money with local Rabobanks, while at
Rabobank International amounts due to
customers decreased.
Domestic retail banking
Rabobank Group is not only the largest
mortgage lender, savings bank and insurance
broker in the Netherlands, but it is also
market leader in the SME sector. The 147
autonomous local Rabobanks have 1,010
branches, 3,063 cash-dispensing machines
and an employee base of approximately
28,000 FTEs. They serve about 6.7 million
retail clients and around 0.8 million corporate
clients in the Netherlands, offering a compre
hensive range of financial services. Obvion, a
joint venture with APG, is also a division of
domestic retail banking operations.This mort
gage lender teams up with independent
mortgage brokers.
Net profit at
EUR 1,213 million
in millions of euros
1,600
Loan portfolio up 4%
in billions of euros
1,400
1,200
1,000
Profit was down at domestic retail banking
in 2009 due to fierce competition in the
savings market and an increase in bad debt
costs. Rabobank managed to expand its
position in the corporate and mortgage
markets. The local Rabobanks were able to
entirely self-fund the growth in lending
using the increase in amounts due to
customers. They are now in the process
of implementing the Rabobank 2010
Programme, the aim being to revamp and
improve client services at lower cost.
2008 2009
2008 2009
Wholesale banking and international
retail banking
Rabobank International is Rabobank Group's
wholesale banking and international retail
banking division. Within the Netherlands,
Rabobank International operates in every
market sector, giving priority to providing
the best and broadest possible service offering
to large corporate clients. Outside the
Netherlands, Rabobank International focuses
on serving food and agri clients. It has a
worldwide office network, with branches in
30 countries and an employee base of about
14,500 FTEs globally.Through its partner banks
in six developing countries, Rabo Develop
ment helps strengthen Rabobank's interna
tional position in the food and agri market.
Net profit at
EUR 646 million
in millions of euros
in billions of euros
800
120
700
105
Loan portfolio down 7% The lending volume dropped at Rabobank
International due to the scaling down of
loans to non-food and agri clients outside
the Netherlands. The share of food and agri
in the portfolio increased. Income from
wholesale banking benefited from develop
ments in interest rates, although their
impact levelled off in the second half of
2009. The poor economic conditions
resulted in impairments on some private
equity interests and in an increase in bad
debt costs.
Report 2009 Rabobank Group
