Financial results of domestic retail banking
Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
Insurance
Rabobank offers its private and business customers a complete
range of advisory services and product solutions, including
insurance. In the field of insurance products, Achmea, via
its brand Interpolis, is Rabobank's most important strategic
partner and supplier. Interpolis offers a wide range of non-life,
healthcare and life insurance policies for both private clients
and businesses. For Rabobank, Interpolis is the preferential
supplier for the retail market. Under the influence of the
reduction of policies from other companies, the total insurance
provisions fell to EUR 269 (277) million.
Type of insurance
Num ber o f policies
31-12-2015
31-12-2014
All-in-One Policy
1,330,000
1,289,000
ZekerVanJeZaakand Bedrijven Compact
Polissen
204,000
207,000
ZorgActief
218,000
215,000
In 2015, we introduced Rabo RisiGo. With this product we
support entrepreneurs and help them strengthen the continuity
of their company by giving them insight into their business
risks and helping them deal with these risks. Rabo RisiGo was
developed on the basis of Rabobank and Interpolis'joint vision
on how companies can more effectively deal with their business
risks. In 2015, about halfofthe new sales of short-term travel
insurance policies were concluded via the Rabo Banking App.
Results
in millions of euros
Net interest income
Net fee and commission income
Other income
Total income
Staff expenses
Other administrative expenses
Depreciation
Operating expenses
Gross result
Loan impairment charges
Resolution levy
Contribution to resolution fund
Bank tax and levy
Operating profit before taxation
Taxation
Net profit
2015
5,661
1,371
18
7,050
2,134
2,520
116
4,770
2,280
343
82
1,766
445
1,321
2014
5,783
1,318
131
7.232
2,302
2.233
127
4,662
2,570
1,422
274
80
794
261
533
Movement
-3%
2%
-11%
-76%
122%
70%
148%
Loan impairment charges (in basis points)
12
48
-75%
Ratios
Cost/income ratio exclusive regulatory levies
Cost/income ratio inclusive regulatory levies
RAROC
67.7%
70.1%
13.0%
64.5%
65.6%
5.8%
Balance sheet (in billions of euros)
Total assets
Private sector loan portfolio
Due to customers
31-12-2015 31-12-2014
325.2 354.3
281.9 289.9
212.4 208.9
Capital requirements (in billions of euros)
Regulatory capital
Economic capital
6.7
10.1
Number of internal employees (in FTEs)
Number of external employees (in FTEs)
22,176
2,165
23,993
2,482
32 Rabobank Annual Report 2015
