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

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Annual Reports Rabobank | 2011 | | pagina 28