Putting customers'interests first Rabobank's service offering is about delivering value for the customer. A 2010 survey by Forrester Research shows that Rabobank proudly ranks among the top three European banks that deliver the most value to their customers. The research company asked customers to respond to the following statement: 'my bank does not operate on a profit motive, but rather puts customers' interests first.'Of the Dutch respondents, 48% agreed that this statement applies to Rabobank, ranking Rabobank 12 percentage points higher than average. The main reason that customers choose Rabobank is our local presence and knowledge of the regional market. They also appreciate Rabobank's reliability, which is reflected in our robust financial position and our cooperative basis. Margin on mortgages The Dutch Competition Authority (NMa) published a report in November 2010, in which it argues that margins on mortgages are high from a historical perspective. Rabobank acknowledges that margins on new mortgage loans have improved since the second half of 2009, but points out that the financing costs of mortgages went up accordingly. What remains is a sound, but necessary, margin that is required to be able to continue to issue mortgages under the Basel III rules. The margin is used to cover operating expenses and a risk mark-up. And profit is required to build up capital. Broader and personal services via direct channels Direct channels form the basis for our retail services. Rabobank wants to excel as a multi channel bank, offering customers services via the channel that best suits them irrespective of the time or place.The ideal platform is an appealing online self-service environment, whether mobile or land-based. Consumers once again voted www.rabobank.nl best financial website of the year in 2010. The next few years will see rapid developments in the area of mobile phone technology. The mobile bank is set to become a fully fledged dimension of the multi-channel bank. More than 10% of our 20 million monthly online banking log-ins now take place via the mobile web. The existing M-banking pack is continually updated in order to make mobile banking accessible to even more customers. In November 2010, we launched the Rabo Banking app for the iPad. In addition to mobile banking, sales via the telephone channel will also increase over the next few years. A knowledge-driven bank Half of the Dutch corporate sector has Rabobank as its company bank. Businesses choose Rabobank because of its financial services, but also because we serve as a knowledge bank for our clients. In 'Cijfers Trends', a quarterly update on figures and trends, Rabobank shares sector knowledge and benchmark opportunities with businesses and their auditors. In addition, Rabobank tries to remove as much of its customers' administrative burden as possible, so that they can focus on what they are good at: doing business. An example would be Rabobank's role in Standard Business Reporting (SBR). SBR allows businesses and their auditors to submit financial reports in a digital format. This means that a business can save time on keeping its accounts. The standardised information that is submitted makes it easier for us to perform a risk assessment. Interim reports can be delivered to the customer sooner, allowing them to change course as needed. Best Dutch merchant bank The annual survey conducted by Management Team magazine ranks Rabobank as the best Dutch financial institution in the categories asset management, cash management, finance, investment banking, private equity and risk management. Managers of large enterprises decide annually what is the best financial institution in the Netherlands. Rabobank ranked highest on six of the 12 aspects. Rabobankalso scored well in the customer satisfaction survey of the Incompany business magazine; it received the highest rating on the aspect of business finance, and it has never ranked lower than the top three on the aspect of corporate finance since 2003. 26 Annual Report 2010 Rabobank Group

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Annual Reports Rabobank | 2010 | | pagina 27