Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
Internationally there is a synergy between our relationship
managers, product specialists and knowledge providers, such
as Food Agribusiness Research. For example, Rabobank
offers it wholesale clients added value in the area of finance,
capital markets for debt securities, mergers acquisitions,
strategic advice and risk management products. Rabobank
offers financing services to international commodity dealers in
the agricultural chain. In addition, we provide our Dutch and
international food and agricultural clients with high-quality,
professional financial products and services for the financial
markets.
Rabo Private Equity
Rabo Private Equity is the investment branch of Rabobank.
It offers different options and structures to help entrepreneurs
attract additional equity. Rabo Private Equity is active in the
Dutch market with Rabo Participaties, which has an investment
fund of about EUR 200 million, invested in shareholdings
in a broad range of sectors. Investments are made for the
long term.
Rabo Private Equity also invests in various private equity funds,
both in the Netherlands and in food and agricultural funds
outside the Netherlands. All these funds fit into Rabobank's
strategy of being a leading global player in the funding of the
food and agri sector or they are used in support of our customer
service in the Netherlands. Rabo Private Equity currently
has investments in funds that are active in the Netherlands,
England, the United States, Poland, Brazil and India.
International Rural and Retail banking
Rural banking focuses on the funding of agricultural business
owners around the world. The main markets for rural banking
are Australia and New Zealand, the United States, Brazil and
Chile. Rabobank has been active in Australia for 25 years,
building out a strong position with currently more than 60
branch offices and approximately 900 employees. In the United
States, Rabobank is active under the name Rabo AgriFinance,
a division that fully focuses on the agricultural sector. In Brazil,
Rabobank specifically focuses on the largest export-oriented
farming companies. Rabobank Chile brought its goals better in
line with the strategic framework and focuses on supporting
the agricultural food chain. FHelped by the value increase of
especially the US dollar, the rural loan portfolio grew in 2015.
The international retail banking activities cover three countries:
the United States (RNA), Indonesia and Ireland (ACC Loan
Management). In the United States, the size of the portfolio at
RNA increased by EUR 1.0 billion to EUR 9.2 (8.2) billion, also
due to currency effects. Rabobank Indonesia is currently in
a strategic transition, as the bank is going to fully focus on the
food and agri sector.
The number of offices was greatly reduced in 2015.
The office closures were accompanied by a loss of about
600 jobs. ACC Loan Management has also been reduced.
On 31 December 2015, the size of the loan portfolio was only
EUR 1.4 (1.9) billion.The presence in Poland was strongly
reduced with the sale of Bank BGZ in 2014. In April 2015, the
merger of Bank BGZ with BNP Paribas Polska was completed.
As a result, Rabobank's remaining 10% interest in Bank BGZ
was converted into a 7% interest in the merger bank BGZ BNP
Paribas. In recent years, URCB (China) has developed into a fully
developed bank. As a result, the impact of Rabo Development
had decreased strongly. We sold our share of 9%.
The total financial loans to rural and retail clients increased by
7% to EUR 37.6 (35.2) billion in 2015, partly due to currency
effects.
Amounts due to customers increased by 7%
Amounts due in the wholesale banking and international rural
and retail banking business stood at EUR 124.4 (115.8) billion at
the end of 2015.This includes the amounts due to customers as
well as private savings from online bank RaboDirect in Belgium,
Germany, Ireland, Australia and New Zealand. Due to customers
grew because institutional customers deposited more money
with Rabobank. The savings balances of RaboDirect remained
stable at around EUR 30.5 (30.4) billion in 2015. The number
of customers of these internet savings banks grew to
900,000 (882,000).
The strategy of RaboDirect is to raise savings funds from outside
the Netherlands as an alternative for Dutch savings.The private
savings entrusted by customers to RaboDirect are used for the
funding of the international rural and retail banking business
and for other divisions of Rabobank Group. By raising funds
in countries outside the Netherlands, Rabobank broadens its
funding base.The savings from RaboDirect activities accounted
for 22% (21%) of the savings held at group level.
37 Performance
