26 Main subsidiaries
27 Costs of external auditor
28 Remuneration of the Supervisory
Board and the Executive Board
Management report
Corporate governance
Consolidated financial statements
Financial statements
All subsidiaries listed in the table are consolidated. In 2015,
none of the subsidiaries experienced any significant restrictions
in the payment of dividends or the redemption of loans and
repayment of advances. The option of subsidiaries to pay
dividend to Rabobank depends on various factors, including
local regulatory requirements, statutory reserves and financial
performance.
On 31 December 2015
Main subsidiaries
The Netherlands
DLL International B.V.
Rabo Vastgoedgroep N.V.
FGH Bank N.V.
OWM Rabobanken B.A.
Obvion N.V.
Rabohypotheekbank N.V.
Rabo Merchant Bank N.V.
Raiffeisenhypotheekbank N.V.
Other Eurozone countries
ACC Loan Management Limited
North America
Rabobank Capital Funding LCC III to VI
Rabobank Capital Funding Trust III to VI
Utrecht America Holdings Inc.
Australia and New Zealand
Rabobank Australia Limited
Rabobank New Zealand Limited
Share
Voting rights
in millions of euros
2015
2014
Financial statements audit
7
6
Other audit engagements 1 1
Other non-audit services
Total
8
7
In the year under review, the audit firm Ernst Young
Accountants LLP in the Netherlands invoiced the above
amounts to Rabobank, its subsidiaries and other companies
it consolidates, within the meaning of Section 382a of Book
2 of the Dutch Civil Code. These amounts do not include fees
for financial statements audits, other audit engagements, tax
consultancy services and other non-audit services charged by
other auditors and other Ernst Young business units.
In 2015, the remuneration of members and former members of
the Executive Board amounted to 6.4 (2014: 6.3).
Pension Individual Redemption of
in thousands of euros Total salaries contributions pension contribution remuneration component Other Total
W. Draijer 980 25 212 - 1 1,218
A. Bruggink 884 26 189 - 1 1,100
B.J. Marttin 884 26 189 - 1 1,100
RJ. Dekker 807 26 171 - 2 1,006
H. Nagel 807 26 171 - 1 1,005
J.L. van Nieuwenhuizen 779 25 165 - - 969
Total 2015 5,141 154 1,097 - 6 6,398
Total 2014 4,993 1,302 - 4 - 6,299
At year-end 2015, there were a total of 11,647 DRNs outstanding
with members and former members of the Executive Board
(year-end 2014:12,133 pieces). The pension scheme for the
members of the Executive Board is classified as a collective
defined contribution scheme. As of 1 January 2015, the
maximum income on the basis of which the members of the
Executive Board can build up a pension amounts to EUR 94,600.
Any income exceeding this amount is not pensionable. As of
1 January 2015, the members of the Executive Board therefore
receive an individual pension contribution.
289
Other notes to the financial statements of Rabobank
