Financial results of domestic retail banking
Loan portfolio by sector
in billions of euros
Food and agri
TIS
Private individuals
250
150
2007 2008 2009 2010 2011
EUR 203.9 (196.8) billion, loans
and loans to the food and agri
sector increased in scale, while
Modest growth in lending
Private sector lending at domestic retail banking increased by
3% in 2011, rising to EUR 295.8 (286.9) billion. Consumer and
business confidence has fallen because of the euro crisis and
the bleak economic outlook. Both groups are holding off on
their spending and are repaying loans where they can.
Lending only showed modest growth for the second year
in a row as a result. Of loans, 69% were issued to private
individuals, 21 to the TIS sector, and 10% to the food and
agri sector. Loans to private individuals, which are comprised
almost entirely of mortgage loans, rose by 4% in 2011 to
to theTIS sector were up 3%, reaching EUR 62.8 (61.1) billion,
sector landed at EUR 29.1 (29.1) billion. The meat-processing
the dairy segment was faced with a contracting market.
Results (in millions of euros)
Interest
2011
5,218
2010
4,894
Change
7%
Commission
1,357
1,321
3%
Other results
366
294
25%
Total income
6,941
6,509
7%
Staff costs
2,258
2,161
4%
Other administrative expenses
1,609
1,553
4%
Depreciation and amortisation
119
119
Total operating expenses
3,986
3,833
4%
Gross result
2,954
2,676
10%
Value adjustments
648
358
81%
Operating profit before taxation
2,307
2,318
Taxation
454
475
-4%
Net profit
1,853
1,843
1%
Bad debt costs (in basis points)
22
13
69%
Ratios
Efficiency ratio
57.4%
58.9%
RAROC
24.0%
23.8%
Balance sheet (in billions of euros)
Total assets
31-Dec-11
373.0
31-Dec-10
360.9
3%
Private sector loan portfolio
295.8
286.9
3%
Amounts due to customers
200.1
192.8
4%
Capital requirements (in billions of euros)
Regulatory capital
6.4
6.7
-4%
Economic capital
7.2
8.1
-11%
Number of employees (in FTEs) 27,272 27,322
32
Annual Report 2011 Rabobank Group
