Financial results of domestic retail banking
Results
Notes to financial results of domestic retail banking
in millions of euros
2013
2012
Change
Interest
5,605
5,180
8%
Commission
1,319
1,344
-2%
Other results
616
765
-19%
Total income
7,540
7,289
3%
Staff costs
2,463
2,454
Other administrative expenses
2,408
1,755
37%
Depreciation
144
151
-5%
Operating expenses
5,015
4,360
15%
Gross result
2,525
2,929
-14%
Value adjustments
1,384
1,329
4%
Bank tax expense
90
91
-1%
Operating profit before taxation
1,051
1,509
-30%
Taxation
270
205
32%
Net profit
781
1,304
-40%
Bad debt costs (in basis points)
45
44
2%
Ratios
Efficiency ratio
66.5%
59.8%
RAROC
8.6%
16.3%
Balance sheet (in billions of euros)
31-Dec-13
31-Dec-12
Total assets
376.3
386.1
-3%
Private sector loan portfolio
303.1
306.5
-1%
Amounts due to customers
215.7
214.5
1%
Capital requirements (in billions of euros)
Regulatory capital
6.6
6.8
-3%
Economic capital
9.1
9.1
Number of employees (in FTEs)
26,999
28,668
-6%
Income up 3%
The total income of the domestic retail banking division rose by EUR 251 million to EUR 7,540
(7,289) million in 2013. Particularly due to a partial restoration of margins on savings, interest
profit increased 8% to EUR 5,605 (5,180) million. Commission income declined by EUR 25 million
to EUR 1,319 (1,344) million, due in part to a decline in insurance commissions. Contrary to the
decision in 2012, the June 2013 general members meeting decided that Rabobank Nederland
should not pay a dividend to the local Rabobanks.The transition to the new pension scheme
positively affected the other results. On balance, the other results fell by EUR 149 million to
EUR 616 (765) million.
Annual Report 2013 Rabobank Group
