Financial results of wholesale banking and international
retail banking
Results
-
In Ivory Coast the support for cooperatives is mainly linked to customers in the cocoa sector
of Rabobank International. Cooperatives in the cocoa sector supplying their cocoa to a major
client of Rabobank International, ECOM Agroindustrial, are supported through training and
advice. In September 2012, a similar project started for a partnership between three other
major international customers in the cocoa processing industry, Delfi, Blommer and Cemoi.
In this case Rabo Development supports cooperatives in fermenting cocoa beans, for better
quality and a better price in the sale results. Both projects with ECOM and PACTS are
sponsored by Rabobank Foundation.
New investment WAAD and capital injection for Banco Terra
In the first half year of 2012, Rabo Development announced a new investment in West Africa
-The West African Agricultural Development Corporation (WAAD), in association with
International Finance Corporation (IFC). This entity will extend financial services to small and
medium-size companies in West and Central Africa, which participate in the agricultural value
chain, ranging from production, processing and logistics to services and technology. Next to
that, Rabo Development injected additional capital into the Mozambican bank Banco Terra,
the only greenfield operation of Rabo Development.
In 2012, banking specialists stationed abroad worked the equivalent of approximately
150 man-months. At year-end 2012, Rabo Development had 20 managers and long-term
consultants working abroad.
in millions of euros
2012
2011
Change
Interest
2,775
2,957
-6%
Fees and commission
618
586
5%
Other results
612
207
Total income
4,005
3,750
7%
Staff costs
1,320
1,116
18%
Other administrative expenses
976
847
15%
Depreciation
120
109
10%
Operating expenses
2,416
2,072
17%
Gross result
1,589
1,678
-5%
Value adjustments
621
686
-9%
Bank tax expense
60
Operating profit before taxation
908
992
-8%
Taxation
204
211
-3%
Net profit
704
781
-10%
Bad debt costs (in basis points)
59
73
-19%
Ratios
Efficiency ratio
60.3%
55.3%
RAROC
8.4%
10.3%
Balance sheet (in billions of euros)
31-Dec-12
31-Dec-11
Total assets
530.4
514.6
3%
Private sector loan portfolio
107.5
106.6
1%
Capital requirements (in billions of euros)
Regulatory capital
6.5
7.1
-8%
Economic capital
7.9
8.8
-10%
Number of employees (in FTEs)
15,805
15,747
49 Leading food and agri bank at international level