Financial results of domestic retail banking Results (in millions of euros) portfolio, 69% was made up of loans to private individuals, 21% of loans to the trade, industry and services (TIS) sector, and 10% of loans to the food and agri sector. Loans to private individuals, which are comprised almost entirely of mortgage loans, rose by 4% to EUR 196.8 (190.0) billion. Loans to the TIS sector were up 4% to EUR 61.1 (58.8) billion. Loans to the food and agri sector were stable in 2010, landing at EUR 29.1 (29.2) billion. The share of the meat sector in this portfolio increased, with that of the fruit and vegetables sector contracting. Increase in amounts due to customers Domestic retail banking saw its amounts due to customers increase by 4%, rising to EUR 192.8 (185.2) billion in 2010. Corporate deposits accounted for most of the increase. Amounts due to customers are made up chiefly of savings deposits from private individuals. This category increased by 3% to EUR 112.6 (108.9) billion. Within savings deposits, there was a shift from time deposits and fixed-interest savings to variable-interest savings. Domestic retail banking was able to fund nearly all of the increase in lending using client deposits. 2010 2009 Change Interest 4,894 4,360 12% Commission 1,321 1,261 5% Other results 294 505 -42% Total income 6,509 6,126 6% Staff costs 2,161 2,196 -2% Other administrative expenses 1,553 1,569 -1% Depreciation and amortisation 119 133 -11% Operating expenses 3,833 3,898 -2% Gross result 2,676 2,228 20% Value adjustments 358 721 -50% Operating profit before taxation 2,318 1,507 54% Taxation 475 294 62% Net profit 1,843 1,213 52% Bad debt costs (in basis points) 13 26 -50% Ratios Efficiency ratio 58.9% 63.6% RAROC 23.8% 15.2% Balance sheet (in billions of euros) 31-Dec-10 31-Dec-09 Total assets 360.9 328.9 10% Private sector loan portfolio 286.9 278.0 3% Amounts due to customers 192.8 185.2 4% Capital requirements (in billions of euros) Capital requirement 6.7 6.7 Economic capital 8.1 7.6 7% N umber of employees (jn FTEs) 27,322 28,529 -4% Income up 6% Domestic retail banking saw its total income increase by 6%, rising to EUR 6,509 (6,126) million in 2010. Interest income was up 12% to EUR 4,894 (4,360) million as a result of recovered margins, particularly on savings deposits. Thanks, in part, to the issue of new products, commission showed a limited 5% rise to EUR 1,321 (1,261) million. Insurance commissions at the local Rabobanks amounted to EUR 329 (353) million. Commissions from non-life insurance 31 Domestic retail banking

Rabobank Bronnenarchief

Annual Reports Rabobank | 2010 | | pagina 32