Leasing Recovery of earnings thanks to higher residual value gains and improved margins Lower bad debt costs, an increase in interest income and higher residual value gains on second-hand cars caused net profit at De Lage Landen to recover by 79% to EUR 201 million in 2010. Bad debt costs were down 32% and stood at 90 basis points of average lending. Lending rose by 7% to EUR 25.7 billion. The share of food and agri in the portfolio rose by 2.5 percentage points to 26.8%. At De Lage Landen, the reporting period was characterised by active risk management and control, which was facilitated by the tentative economic recovery. De Lage Landen received the Green Lessor of the Year Award for funding green technology while simultaneously limiting the environmental impact of its operations. The efficiency ratio improved by 0.7 percentage points to 59.3% and RAROC stood at 18.3%. Strategy for De Lage Landen www.delagelanden.com De Lage Landen helps Rabobank achieve market leadership in the Netherlands by offering leasing and factoring products as well as consumer loans. On a global level, De Lage Landen endeavours to increase the share of food and agri in its leasing portfolio. Boasting an extensive global vendor finance and car-leasing network, De Lage Landen provides an excellent platform for synergies with other divisions of Rabobank Group, for instance where globally operating corporate clients are concerned. De Lage Landen: partnership in offering a group-wide customer proposition De Lage Landen reviewed its strategy in 2010, culminating in the strategic plan 2011-2013 whose implementation was launched on 1 January 2011The plan is aimed at capitalising on investments made in the global network, the product offering and the systems within the existing business model.The outcome should be that: Rabobank Group strategy Contribution to group strategy All-finance market leader in the Netherlands - Supporting Rabobank by aspiring to market leadership in equipment, vendor and car leasing, and in factoring - Increasing share of consumer loans market International food and agri bank - Offering asset-based finance solutions in support of Rabobank International's global retail and wholesale activities - Tracking, and providing guidance and support to food and agri-related manufacturers, vendors and distributors of capital goods - Broadening the share of food and agri in the portfolio Share in Rabobank Group's net profit for 2010 Leasing 7% 47 Leasing

Rabobank Bronnenarchief

Annual Reports Rabobank | 2010 | | pagina 48