Performance
Wholesale banking and international retail banking
Results decreased by impairment of goodwill
The net result of the wholesale banking and international rural and retail banking division came out at
a loss of EUR 333 million in 2015.This is a decrease of EUR 1,091 million compared to 2014.The main
cause for the decrease was the impairment of goodwill regarding Rabobank National Association (RNA)
in the United States of EUR 604 million. In addition, loan impairment charges rose by EUR 106 million
to EUR 526 million or 53 basis points of the average loan portfolio. The contribution to the national
resolution fund reduced the operating profit before taxation by a further EUR 66 million. Just as with
the local Rabobanks, the number of employees in the wholesale banking and international rural
and retail division decreased in 2015.This will contribute to the necessary improvement of returns
in the coming years.The loan portfolio increased by EUR 3.6 billion to EUR 98.8 billion, mainly due to
currency effects. The food and agri share of the total loan portfolio came out at 61%. This is an increase
of 3 percentage points compared to the end of 2014. Amounts due to customers rose by 7% to
EUR 124.4 billion. The total savings balance of the Internet savings bank in Belgium, Germany, Ireland,
Australia and New Zealand was almost stable at EUR 30.5 billion. Rabobank reduced its interest in the
Agricultural Bank of China by 93% in 2015. The amount of illiquid assets was further decreased in the
reporting year.
Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
Strategy
The Dutch wholesale banking and international rural and retail
banking business forms the international axle in our Banking
for Food strategy, which concerns our contributions to feeding
the world more sustainably and to the individual economic
objectives of ourfood and agricultural clients. In addition, we
show leadership with events such as the Food 20 Summit and
with Rabobank Foundation and Rabo Development.
The wholesale banking division in the Netherlands is
a significant contributor to our Banking for the Netherlands
strategy. In this way, we make a sustainable investment in
welfare and prosperity in the Netherlands. You can find more
about this in the section Strategy.
Banking for Food
Our vision is that we see a role for Rabobank in the area of
global food security.The world population is growing fast and
worldwide food production cannot lag behind in this. At the
same time, only limited land and natural resources are available.
As an international leading bank in food and agriculture,
Rabobank would like to contribute to the challenge to produce
more and more sustainably with fewer raw materials.
Together with clients, partners and colleagues worldwide, we
will start with the four dimensions of food security: improving
the availability of food; improving access to food; stimulating
balanced, healthy nutrition, and enhancing the stability of food
production. Now and in the future, Rabobank wants to support
entrepreneurs in the food and agri chain by granting access to
finance, knowledge and networks. With its presence in North
America, South America, Europe, Asia, Africa, Australia and
New Zealand, Wholesale, Rural Retail is positioned perfectly
to play a unique role worldwide in the area of food and agri.
The Annual Review further elaborates on Banking for Food,
the vision of Rabobank on food security and the bank's role in
this respect.
Customer focus
With the help of its knowledge and network, Wholesale,
Rural Retail maps key moments at which it can excel in
customer focus. At such moments we must proactively start
the conversation with clients and exceed their expectations.
Together with our clients, we create solutions that go beyond
financing, for instance regarding business succession and
sustainability. Where possible our client service is close to
clients in the region and is centralised where necessary. In this
35 Performance