Marked rise in amounts due to customers
Rabobank Group's amounts due to customers were up 10% in 2011, rising to EUR 329.9 (298.8)
billion thanks, in part, to market turmoil. Rabobank is considered to be a safe haven. Rabobank
International posted the highest increase; its amounts due to customers increased by EUR 33.1
billion to EUR 121.4 billion. Domestic retail banking saw its amounts due to customers rise by
EUR 7.3 billion to EUR 200.1 billion, while the asset management business suffered a EUR 9.5
billion drop in amounts due to customers to EUR 7.2 billion because of the sale of Sarasin.
Amounts due to customers
in billions of euros
- ■■■■I
mil
2007 2008 2009 2010 2011
Amounts due to customers were made up mainly of savings deposits by private individuals,
which were up 7% in 2011, rising to EUR 140.0 (130.9) billion. Of these savings deposits, 83%
were generated by domestic retail banking, 14% by international retail banking, and 3% by
the asset management business. The increase in savings deposits was fuelled, in part, by the
success of the international Direct Banking business, which yielded a 41% rise in savings
deposits to EUR 16.4 (11.6) billion. The largest increase was posted in Poland. Our foreign
Direct Banks served 472,000 (362,000) customers in total.
Amounts due to customers by group entity
at year-end 2011
Domestic retail banking 61%
Wholesale banking and
international retail banking 37%
Asset management 2%
Equity
in billions of euros
Other non-controlling interests
Hybrid capital
Rabo Member Certificates
Reserves and retained earnings
Further increase in equity
Rabobank Group's equity was up 10% in 2011rising to
so EUR 45.0 (40.8) billion, which was partly attributable to
40 retained earnings and the issue of hybrid capital. We raised a
30 S total of USD 4 billion in hybrid capital in 2011.The conversion
20 of old Rabobank Member Certificates into new ones entailed
io a partial cash payment. Investors were given the option to
o reinvest that payment in to be issued Rabobank Member
2007 2008 2009 2010 2011 Certificates. The conversion caused equity to drop by EUR 0.2
billion. Rabobank Nederland converted 25% of the original
nominal value of Rabo Extra Member Certificates into Rabobank Member Certificates,
propelling a EUR 0.2 billion increase in equity. Of equity, 59% is comprised of retained earnings
and other reserves, 15% of Rabobank Member Certificates, 20% of hybrid capital and 6% of
other non-controlling interests.
Regulatory capital
Rabobank Group's regulatory capital stood at EUR 17.9 (17.6) billion at year-end 2011
The increase in the regulatory capital for market risk was due mainly to Capital Requirements
Directive (CRD) III. The solvency requirement for credit risk rose because of the increase in
lending and fell due to the sale of Sarasin. The result was that the solvency requirement stayed
more or less the same. Of the total capital requirement, 89% relates to credit and transfer risk,
8% to operational risk and 3% to market risk.
8
Annual Report 2011 Rabobank Group
