=111 Financial results of wholesale banking and international retail banking - - - Contents Management report Distribution of private savings of RaboDirect in billions of euros 40 31-12 31-12 31-12 2013 2014 2015 I Germany I Ireland I Belgium Australia and New Zealand Loan portfolio by sector in billions of euros 100 hi 31-12 31-12 31-12 2013 2014 2015 I Food and agri TIS Private individuals Loan portfolio by region at year-end 2015 North America 31% I Australia and New Zealand 19% Europe (excluding the Netherlands) 15% I The Netherlands 14% H Latin America 12% Asia 9% Corporate governance Consolidated financial statements Financial statements Pillar 3 The loan portfolio grew by 4% The total loan portfolio of the wholesale banking division and the international rural and retail banking business increased in 2015 by 4% to EUR 98.8 (95.2) billion.The volume of lending provided to the food and agri sector amounted to EUR 59.9 (54.9) billion and thus accounted for 61% (58%) of the total loan portfolio of this segment.The total loans to the sectorTrade, Industry and Services (TIS) amounted to EUR 35.4 (36.7) billion. Lending to private individuals reached EUR 3.5 (3.6) billion. Lending to Dutch companies increased by 8% to EUR 14.2 (13.1) bil lion. The remaining part of the loan portfolio was issued to companies outside of the Netherlands: EUR 47.0 (46.9) billion to wholesale clients and EUR 37.6 (35.2) billion to rural and retail clients. The growth in the international part of the portfolio was due especially to the depreciation of the euro. Results in millions of euros 2015 2014 Movement Net interest income 2,270 2,416 -6% Net fee and commission income 513 552 -7% Other income 653 825 -21% Total income 3,436 3,793 -9% Staff expenses 1,123 1,164 -4% Other administrative expenses 1,101 1,166 -6% Depreciation 107 87 23% Operating expenses 2,331 2,417 -4% Gross result 1,105 1,376 -20% Impairment losses on goodwill 612 26 Loan impairment charges 526 420 25% Contribution to resolution fund 66 Bank tax and levy 73 67 9% Operating profit before taxation (172) 863 -120% Taxation 161 105 53% Net profit (333) 758 -144% Loan impairment charges (in basis points) 53 44 20% Ratios Cost/income ratio exclusive regulatory levies 67.8% 63.7% Cost/income ratio inclusive regulatory levies 71.9% 65.5% RAROC -4.3% 10.2% Balance sheet (in EUR billion) Total assets Private sector loan portfolio Due to customers 31-12-2015 489.2 98.8 124.4 31-12-2014 495.1 95.2 115.8 Capital requirements (in EUR billion) Regulatory capital 6.4 6.4 0% Economic capital 7.7 7.3 5% Number of internal employees (in FTEs) 8,785 9,546 -8% Number of externa I employees (in FTEs) 794 694 14% 38 Rabobank Annual Report 2015

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Annual Reports Rabobank | 2015 | | pagina 39