50 ill o 11111 allowed customers to request more information tailored to their specific situation. More than half of the number of customers qualifying for the OpMaat compensation scheme still have an OpMaat Hypotheek-C mortgage. This group has been invited to a personal consultation. About three-quarters of them accepted this invitation. Based on an extensive customer analysis, and the needs and requirements of the customer, the personal consultation was used to define a suitable solution going forward for each particular customer. Many clients availed themselves of the option to switch to bank savings. In the reporting period, about 140,000 customers returned the reply form taking up the offer under the OpMaat compensation scheme. They received their interest payment. We expect to receive more reply forms in the first quarter of 2011 because the personal consultations have not yet been completed. A special committee has been instituted for extreme cases. Compensation scheme for Obvion's Switchhypotheek mortgage Following up on the Ombudsman's decision on Rabobank's OpMaat Hypotheek-C mortgage, Obvion customers with a Switchhypotheek mortgage (an almost identical product) were offered compensation in the fourth quarter of 2010. Microcredits for business start-ups Together with the Ministry of Economic Affairs, Agriculture and Innovation, among other parties, Rabobank issued a top-up loan of EUR 5 million to Qredits in 2010.This microcredit organisation was established in 2008 with Rabobank's support. It focuses on financing existing businesses and start-ups with a financing requirement of up to EUR 35,000 that have no chance of getting a standard bank loan. This would include entrepreneurs who need more support than the bank can offer, for instance owing to deficient language skills. Rabobank also contributed to funding microbusinesses in 2010 by supporting a pilot undertaken by the Ministry of Social Affairs. Integration of Bizner into Rabobank After the decision was taken to terminate Bizner's service provision, we looked carefully at how this online bank's clients could safely switch over to Rabobank. The integration is running smoothly. We expect that ultimately about 70% of clients will take up the offer to switch over to Rabobank. Promoting efficient payment transactions Rabobank executes corporate payment transactions charging a transaction-based fee, i.e. a fixed fee per type of transaction. The fee is set based on the processing costs incurred by Rabobank. For this reason, the more efficient forms of payment come at the lowest cost. This allows corporate clients to control the cost of their payment transactions. Rabobank does not charge a turnover commission. Serving corporate clients locally Corporate clients increasingly contact Rabobank via direct channels such as telephone, e-mail and online, rather than meeting with our people face-to-face. Rabobank facilitates this shift by investing in local call centres tailored to businesses. In the year under review, more than 70% of the local Rabobanks had a call centre. Rabobank's ambition is to have a call centre for all local Rabobanks in 2011even more focus will be placed on efficiency and customer satisfaction. It is up to the client to choose the channel that best suits them, whether this be online, telephone, e-mail or an adviser. Loan portfolio by sector 300 in billions of euros 250 Food and agri 725 Private individuals too 2006 2007 2008 2009 2010 Lending at domestic retail banking Despite the modest economic recovery, growth in lending at domestic retail banking was slightly less steep in 2010 than in 2009. Consumer confidence remains low owing in part to government cut-backs, and businesses are still hesitant to invest. Producers are extra careful due to the financial crisis and many of them are still struggling with overcapacity. Private sector lending was up 3% in 2010, rising to EUR 286.9 (278.0) billion; of this 30 Annual Report 2010 Rabobank Group

Rabobank Bronnenarchief

Annual Reports Rabobank | 2010 | | pagina 31