Share of mortgage market
in
These themes are a result of Rabobank Group's strategic policy and our central themes.
Our performance is measured using CSR performance indicators. These show that:
- 84% (79%) of senior citizens feel that Rabobank makes banking easy;
- 69% (69%) of retail clients feel that Rabobank treats its customers fairly;
- 74% (76%) of retail clients feel that Rabobank provides transparent and easy-to-understand
information about its services and products.
In 2011Rabobank developed a dashboard that can be used to measure customer satisfaction
of actions and activities undertaken with respect to sustainable economic development and
responsible banking. Customer feedback is used to measure our performance on the following
aspects:
- accessibility for businesses, including start-ups and innovators;
- commitment to clients, for better or for worse;
- forward-looking approach in sustainability dialogue with clients;
- suitable advice tailored to specific and individual requirements;
- transparency and reliability;
- level of access to networks.
These themes were linked to management variables that are discussed periodically within
the bank.
Mortgages
Where the mortgage market showed growth in the first half
of 2011, sentiments turned around in the second half,
reducing the mortgage market to a level below that of 2010.
All in all, total new mortgage business contracted slightly in
the Netherlands in 2011. Rabobankalso sold fewer
mortgages in 2011, although the drop was not as steep as
in the market overall. Our market share rose to 31.7% (29.0%)
2007 2008 2009 2010 2011 as a result. The market share of the local Rabobanks was up
0.7 percentage points, reaching 26.2%, and Obvion's share of
the market increased by 2.0 percentage points to 5.5%.
Reforming the Dutch housing market
The Dutch housing market is in a gridlock. Current home owners are not moving up the property
ladder because of a lack of consumer confidence in the market. Tenants of social housing are
also staying put because, in many cases, their rent is officially too low for their income. In some
areas, waiting times are unacceptably long. In order to mitigate the risk of reduced future
affordability and to limit residual mortgage debt, Rabobank already advocated imposing
restrictions on interest-only mortgages in the advisory process in 2010. This is prompted by
market developments, including gradual tax measures, lower pension entitlements and
developments in house prices. At the same time, however, there is a structural housing
shortage in the Netherlands.
In June 2011, Rabobank presented a ten-point plan to re-energise the housing market.The plan
suggests a full-scope reform of the housing market. Although the initial response was mixed,
Rabobank's initiative, as the country's largest mortgage lender, certainly did not go unnoticed
with politicians and special-interest groups. This key issue for the Dutch economy is now being
studied extensively at many levels and with different stakeholders. The stakes are high: helping
the housing market in the short term and creating a more stable foundation for the housing
market in the longer term. The current political landscape makes it difficult to predict at this
time whether and when the proposed nation-wide consensus will be reached.
Best-rated mortgage products
In a survey held by the Dutch Consumers'Association, the Rabo OpbouwHypotheek
mortgage was ranked first as the best mortgage product. The Consumers'Association's survey
looked at 27 mortgage lenders and their products; the terms and conditions of the Rabo
OpbouwHypotheek mortgage received the best ratings.
Strategic Framework Broad range of services in the Netherlands