Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
the goodwill impairment, the total income from the wholesale,
rural retail businesses in 2016 will be almost in line with 2015.
We expect margin pressure to continue. Only at rural banking
do we expect to see income growth. Measures to save costs
are expected to be fully compensated by additional regulatory
expenses. We expect that on balance the costs will be more or
less in line with those of 2015.The loan portfolio will be further
aligned with the food and agri strategy, and portfolio growth is
expected for rural banking.
In 2016, Rabobank foresees lower loan impairment charges for
the wholesale, rural retail businesses. In the Netherlands, we
expect that the loan impairment charges will move towards
the long-term average, after a number of years at relatively
high levels. In 2015, the result was under pressure from the
impairment on the goodwill of RNA. We expect that the net
profit of the wholesale banking and international rural and retail
banking business in 2016 will be higher than in 2015.
40 Rabobank Annual Report 2015