Distribution of savings deposits of Rabo Direct
while the Polish banking sector was consolidating. With BNP Paribas, which already owns a
bank of its own in Poland, Bank BGZ can simultaneously achieve substantial benefits of scale
and advance its ambitions as a commercial bank with an agri focus. Rabobank intends to
continue serving its Dutch customers via the International Desk. Completion of the sale is
expected to boost Rabobank Group's tier 1 ratio by some 40 basis points.
Bank licence in Turkey
TheTurkish banking authority approved Rabobank's application for a banking licence in Turkey
in 2013. Rabobank already had a representative office and will expand its presence by
establishing the subsidiary Rabobank Anonim Sirketi (Rabobank AS.). Its prime focus will be on
serving mid-corporate customers operating in the food and agri sector. Rabobank is confident
that, with its expertise, it can contribute significantly to the development of the food and agri
sector in Turkey. Rabobank expects to be able to commence its activities in the third quarter
of 2014.
Continued growth of savings deposits at RaboDirect
Following the completion of the sale of Bank BGZ - and thus BGZ Optima - Rabobank will have
five internet savings banks abroad; in Belgium, Germany, Ireland, Australia and New Zealand.
The savings deposits at these banks rose 23% to EUR 29.1 (23.6) billion in 2013 and the number
of customers totalled 751,000 (593,000) at year-end. The growth was attributable almost in full
to Germany, where savings deposits increased by EUR 4.8 billion in
2013. In Australia, savings deposits were affected by the sharp
depreciation of the Australian dollar versus the euro. The savings
deposits from RaboDirect activities are used to fund lending in
international rural and retail banking and other divisions of
Rabobank Group. In line with the Strategic Framework, Rabobank is
seeking to broaden its funding basis by attracting savings deposits
in other countries besides the Netherlands as well. With a view to
further diversification, funding is also attracted from multilateral
development banks. At year-end 2013 the savings deposits from
RaboDirect activities accounted for 19% (16%) of the savings
deposits at a group level.
Increase in share of food and agri in the Rabobank International loan portfolio
The volume of lending provided to the food and agri sector came to EUR 49.5 (54) billion, and
thus accounted for 54% (50%) of the total loan portfolio. Total lending to trade, industry and
services (TIS) fell by 21 to EUR 39.1 (48.2) billion, and loans to private individuals came to
EUR 3.6 (5.4) billion.
The further phasing out of lending to non-core sectors in the reporting year, in combination
with the depreciation of the US and the Australian dollar (among other currencies) and the
agreement reached regarding the sale of Bank BGZ, contributed to a 14% contraction in total
lending to private individuals by the wholesale banking and international retail banking division
to EUR 92.1 (107.5) billion during the reporting year.
in billions of euro's
30
25
Germany
Ireland
Belgium
20
15
10
5
0
2009
2010
2011
2012
2013
Australia and New Zealand
54 Annual Report 2013 Rabobank Group
