MoneyView, an independent financial market research agency, gave Obvion's mortgage
products the top rating. In its survey, MoneyView reviewed 70 mortgage products on aspects
such as interest reset procedures, term of validity of the mortgage proposal, penalty clauses
and mortgage portability. The Obvion Basis Hypotheek mortgage was ranked highest in the
category for budget mortgages and the Obvion Compact Hypotheek mortgage, which was
introduced in 2011, came in second. Obvion also won the Gouden Spreekbuis award in 2011
as well as the Performance Award Hypotheekverstrekker for mortgage lenders.
Easier-to-read mortgage proposals
To further improve the transparency of financial products, the details of our mortgage
proposals have been rewritten so that they are easier to understand. The use of every-day
language makes it simpler for customers to find and understand the information they need.
The new mortgage proposals have been well received by our customers and advisers alike.
Share of savings market
in
40
35
30
25
20
15
10
5
0
OpMaat mortgage compensation scheme
Rabobank started to implement the OpMaat mortgage compensation scheme in 2010.
Rabobank developed this compensation scheme following the Dutch Ombudsman's
'Recommendation on the OpMaat Mortgage' of 2 December 2009 and the agreement with
Stichting Woekerpolis, a special-interest group fighting profiteering policies, on 18 December
2009. Over 190,000 customers received a personal compensation offer from Rabobank in 2010.
Around 75% of customers took the offer. Although most of the compensation activities were
concentrated in 2010, our advisers still met with customers in 2011 to discuss their active
OpMaat Hypotheek mortgage. Customer feedback has shown that these customers were
generally happy with our advisory services.
Savings products
Domestic retail banking saw its amounts due to customers
increase by 4%, rising to EUR 200.1 (192.8) billion. Amounts
due to customers are made up chiefly of savings deposits
from private individuals. This category was up 4%, reaching
EUR 116.8 (112.6) billion. In addition, more and more
customers are opting for bank savings. Using Rabo Toekomst-
Sparen, a type of bank savings, an increasing number of
customers are taking responsibility for their future income.
This is a tax-efficient way of asset building. The savings market
in the Netherlands grew by 5% in 2011, reaching a volume of
EUR 306.1 (291.1) billion. Rabobank Group's share in this
market was 38.7% (39.7%). Of this share, 37.3% (38.2%) was held by the local Rabobanks and
1.4% (1.5%) by Robeco Direct.
2007 2008 2009 2010 2011
Savings deposits became even more important to banks. Competition in the savings market
intensified over the last few months of 2011 and interest rates on savings deposits were up.
The Dutch deposit guarantee system, which guarantees savings deposits of up to EUR 100,000,
makes the risk profile of a bank less relevant to most consumers. This system is expected to be
converted in 2012 from a system of retrospective financing by banks into a system that requires
each bank to make an upfront payment into a fund.
Changes in range of savings products
Rabobank simplified its range of savings products in the year under review. Rabo InternetSparen
is a new online savings account with three balance categories, which makes it more convenient
and transparent. Savings products for businesses were also streamlined by reducing the product
range to three products. In an ever more competitive market, Rabobank's priorities are long
standing client relations and realistic pricing.
28
Annual Report 2011 Rabobank Group
