Access to funding
-
-
Unsecured long-term bonds by currency
Excellent access to funding
Of the total international funds
entrusted, EUR 29.1 (23.6) billion is
attributable to International Direct Retail
Banking activities.
in millions of euros
31 December
31 December
2013
2012
Funds entrusted Rabobank Group
329,400
334,271
Netherlands retail
215,277
214,542
- Private customers
138,220
138,410
- Businesses
77,057
76,133
Netherlands non-retail
46,543
52,435
- Private customers
10
12
- Businesses
46,533
52,423
International*
67,580
67,294
- Private customers
26,374
25,421
of which BGZ
3,855
- Businesses
41,206
41,873
of which BGZ
2,741
Wholesale funding
219,351
252,777
Funding CD/CP/ABCP
- CD
42,796
40,400
- CP/ABCP
11,620
21,076
Total short-term funding
54,416
61,476
Wholesale funding: other
164,935
191,301
- Of which subordinated
7,815
5,407
EDTF recommendation 21 The lending to the retail banking business is to a large extent funded by retail customers' credit
balances. In 2013, the growth of funds entrusted by customers outpaced that of lending in
retail banking. This contributed to a reduction of the dependence on wholesale funding.
The average maturity of the newly issued funding portfolio is over 4.5 years.
In 2013, Rabobank Group managed to issue EUR 20 billion in
unsecured long-term bonds in fifteen different currencies in 2013.
By operating on a global scale in this regard, the bank avoids
becoming too reliant on a single source of funding. The average
maturity of the newly issued unsecured long-term bonds is over
4.5 years.
Of the total portfolio of issued debt, excluding commercial paper
and certificates of deposit, more than EUR 70 billion matures in or
after 2017.
Rabobank is a frequent and flexible issuer of short-term debt
securities and has seen a solid inflow of funds in the past few years,
reflecting its excellent creditworthiness. The volume of short-term funding was deliberately
reduced in the past year. This was achieved by means such as discontinuing the Atlantis
programme and is in line with the funding strategy to reduce the dependence on the wholesale
funding market. The maturity and quality of the short-term debt were also improved in line with
this strategy. The average maturity of the CD/CPs rose to 122 (90) days in 2013.
at year-end 2013, in
t
Australian dollar
Japanese yen
British pound
Other
78 Annual Report 2013 Rabobank Group
