Global Finance Magazine, a US publication, has named Rabobank one of the six safest banks in
the world, considering our capital strength and long-term ratings by agencies such as Moody's,
Standard Poor's and Fitch Ratings.
Loan portfolio by sector
in billions of euros
Food and agri
TIS
Private individuals
Moderate growth in loan portfolio
Loan portfolio by group entity
at year-end 2011
500
400
300
200
100
0
•mi
2007 2008 2009 2010 2011
Domestic retail banking
66%
Wholesale banking and
international retail banking
24%
Leasing
6%
Real estate
4%
Economic recovery ground to a halt half-way through 2011 because it was uncertain whether
a number of European governments would still have the capacity to meet their debt obligations.
This again suppressed consumer confidence, which had not been very strong to begin with,
and affected the manufacturing industry as well. Compounded by the levelling off of world
trade and lagging government spending, Dutch economic growth slowed down in the second
half of 2011Most other countries where Rabobank operates also suffered from slower growth
and a poorer outlook. In these difficult circumstances, Rabobank Group's loan portfolio rose by
no more than 3%, landing at EUR 448.3 (436.3) billion. The underlying trend showed 3% growth
in the local Rabobanks'and Obvion's loan portfolio and 8% in that of Rabobank International.
The loan portfolio at De Lage Landen and FGH Bank saw further increases as well.
Loan portfolio TIS by industry
at year-end 2011
Lessors of real estate 21
Finance and insurance
(exce pt ba n ks) 14%
Wholesale 12%
Activities related to real estate 6%
Construction 5%
Manufacturing 5%
Transportation and wharehousing 5%
Health care 4%
Professional, scientific and
technical services 3%
Retail non-food 3%
Other 22%
Loan portfolio food and agri by industry
at year-end 2011
Grain and oilseeds
19%
Dairy
18%
Animal protein
18%
Fruit and vegetables
11%
Farm inputs
6%
Food retail and food service
6%
Flowers
4%
Beverages
4%
Other
14%
Of private sector lending, 47% was made up of loans to private individuals, 33% of loans to the
trade, industry and services (TIS) sector, and 20% of loans to the food and agri sector. Loans to
private individuals were up 2% to EUR 212.3 (208.0) billion.This portfolio is made up virtually
entirely of residential mortgages. The Dutch new mortgage business contracted to a limited
extent in 2011. At EUR 147.9 (147.7) billion, the TIS portfolio was virtually stable at group level.
The focus that Rabobank International and De Lage Landen place on the food and agri sector
resulted in a 9% increase in loans to this sector to EUR 88.2 (80.6) billion, of which EUR 59.9 (55.6)
billion was issued to the primary agricultural sector.
Of private sector loans, 74% were issued in the Netherlands, 12% in America, 9% in European
countries other than the Netherlands, 4% in Australia and New Zealand, and 1% elsewhere.
The slight increase in lending in America was due, in part, to the appreciation of the US dollar
by 3%.
7
Financial developments
