Rabo AgriFinance, which fully concentrates on the agri sector. Growth in the agri sector in these
regions contributed to the increase in the size of the portfolio in the American region of 9% to
EUR 14.3 (13.1) billion.There was also strong growth in lending to agricultural businesses in
Brazil and Chile.
Specialist knowledge and benefits of scale
In serving Dutch customers and international food and agri customers, Rabobank International
provides high-quality professional financial products and services in fields such as Global
Financial Markets, Acquisition Finance, Global Client Solutions, Project Finance and Trade
Commodity Finance. As a certain critical mass is necessary to guarantee cost and quality
optimisation for those products, the specialist knowledge is used for a broader customer group.
Global Financial Markets offers customers products that are aimed at risk management and
capital market transactions relating to the worldwide financial markets. In 2013, Global Financial
Markets decided to discontinue its Equity Derivatives activities, owing to changes in international
regulations and because these activities are insufficiently aligned with Rabobank International's
strategic goals.
Trade Commodity Finance serves customers in international physical commodities trading.
It uses its knowledge of the commodities markets and the corresponding financial products
for Dutch customers, for international food and agri customers and for customers operating in
the energy and metals sectors.
Acquisition Finance, often in alliance with a financial sponsor, offers financial services to
customers faced with a merger or acquisition. Global Client Solutions provides customised
financial solutions for businesses and financial institutions for which expert knowledge is
required in areas such as lending, legislation, financial reporting standards and/or tax law.
Project Finance focuses on financial solutions for customers with a strong focus on sustainable
energy, on infrastructure projects and on businesses in the international food and agri industry.
In addition, Rabobank operates through Rabo Private Equity, Rabobank's investment arm.
It acquires equity interests in businesses via specialised labels and on the basis of specialised
sector knowledge. In 2013, Rabo Private Equity reduced its majority interest in IHC Merwede
and the team and portfolio of Friesland Bank were integrated within Rabo Private Equity.
ACCBank discontinues regular financial services
It was decided to proceed to a further reorganisation of the activities of the Irish bank ACCBank
in 2013, aimed at reducing costs. Recovering loans will be a priority. ACCBank will discontinue
its regular financial services to customers. As of 2014, it is no longer possible to open a current or
savings account at ACCBank. All its regional business centres will be closed and the intention is
to return its retail banking licence. ACCBank has incurred substantial losses since the downturn
in the Irish real estate market in 2008. There will be further losses owing to impairments in 2014.
Without additional intervention, ACCBank's gross profit would also swing over into a loss.
ACCBank's loan portfolio stood at EUR 2.4 (3.1billion at year-end 2013. Rabobank Ireland -
which focuses on the food and agri sector - and RaboDirect will continue to operate in Ireland.
Sale of Bank BGZ to BNP Paribas
In December 2013, Rabobank reached agreement on the sale of its 98.5% equity interest in
the Polish Bank BGZ to the BNP Paribas Group for an amount of around EUR 1 billion. The sale
includes the activities of the internet savings bank BGZ Optima. Completion of the transaction
is contingent on the required regulatory approvals, but is expected to take place within twelve
months. Rabobank reviewed its strategic options for Bank BGZ in 2013. This revealed that it
would be very difficult for a still relatively small bank such as Bank BGZ to attain sufficient scale
Leading food and agri bank at international level
