The fundamental improvement of the tradability of the Rabobank
Certificates has clearly increased their attractiveness, benefiting
Rabobank's capital position.
Sustainability is becoming ever more deeply engrained in
Rabobank's activities. Rabobank's new sustainability strategy
focuses on accelerating efforts to increase the sustainability of
worldwide agriculture and food supplies. Other key aims are to
strengthen vital communities and the economic success of our
customers. Rabobank is targeting a top 3 position in the global
sustainability rating of the largest financial services providers by
2020. Rabobank reports on progress in its sustainability activities in
2013 in a separate Sustainability Report prepared for that purpose.
Rinus Minderhoud, Chairman of the Key developments in 2013
Executive Board of Rabobank Nederland The domestic retail banking division reported a slight decline in the private sector loan portfolio
owing to lower demand and a falling market share in the Dutch mortgage market. In addition
to the low number of transactions in the housing market, customers made additional
repayments on their mortgages. Obvion and Rabobank have developed online applications
enabling customers to access their mortgage loan files or enter data in their files. Customers are
increasingly discovering the convenience of virtual services, including mobile banking. Retail
customers use mobile banking every day, business customers use it several times a day.This
gives customers a better understanding of their financial position. In Leiden, a test for
contactless payments using mobile phones in shops was launched in tandem with other large
banks. Partly on the basis of this pilot project, mobile banking is set to be introduced nationally
in the Netherlands in 2014. These trends are continually accelerating and we are therefore
giving undiminished priority to implementing ourVision 2016 strategy.
Amounts due to customers fell to EUR 329 billion and customer savings deposits rose to
EUR 152 billion.
The harsh economic climate was also reflected in reduced lending to Dutch small and medium-
sized businesses. Market share remained stable but the number of loan applications declined.
Some of our customers had to contend with particularly challenging conditions in certain
sectors. Customers also had to migrate to SEPA, which was a top priority for all banks in Europe
in 2013 as required by the European Commission.
In 2012, the activities of Friesland Bank were merged into Rabobank Group. Since 2013, customers
of Friesland Bank are served by local Rabobank branches and Rabobank International.
The international banking division achieved a profit despite the settlement payments.
They benefited from positive results within Capital Markets, Acquisition Finance and Global
Client Solutions. Results of the international rural and retail activities also improved. Economic
growth resumed internationally, which led to a fall in bad debt costs at Rabobank International.
3 Chairman's foreword
