Performance Leasing Strong results with growth in the lease portfolio The leasing segment booked a net profit of EUR 498 million in 2015, an increase of 14% compared to 2014. DLL's lease portfolio increased by 8% to EUR 35.7 billion due to growth in activities as well as exchange rate effects.The food and agri share in the lease portfolio increased to 31% and Dutch activities represent 19% of the lease portfolio. DLL further optimised its lease portfolio by focusing more on activities in the industries in which it is specialised. Net interest and commission income developed positively. However, operating expenses increased as a result of growth in the number of employees as well as the depreciation of the euro compared to the US dollar specifically. The increased costs for regulations and supervision also contributed to the increase of the operating expenses. DLL and its clients could - especially in the Netherlands - profit from the improved economic circumstances. In combination with strict risk management and a good spreading of activities, this resulted in a 35% decrease of the loan impairment charges to EUR 85 million. As a result, the loan impairment charges amounted to 25 basis points of the average loan portfolio, way below the long-term average. Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3 DLL DLL is a worldwide provider of asset-based finance solutions and is a subsidiary of Rabobank Group. It is engaged in over 35 countries worldwide and works with partners to find the best financial solution for every client request. Potential solutions include, leasing, factoring (commercial finance), mobility, vendor finance, consumer finance and re-marketing. DLL focuses on the development of customised financial solutions that contribute to the success of its partners (i.e. manufacturers, dealers and distributors). Its mission is to ensure that companies can acquire and use the equipment needed to run their businesses. In the Netherlands, DLL offers its financial solutions in close cooperation with Rabobank. This combination ensures that clients have all their finances under one roof, as they can choose from various financial solutions and leverage the international network of Rabobank and DLL. The Rabobank advisor is the first point of contact for a lease or factoring solution. In case of specific issues, a DLL expert would be brought in to help determine a solution. Read more information about DLL here. Strategy In the Netherlands, DLL supports the strategy of Rabobank Group's wide range of financial services. Its support for Rabobank's global food and agri strategy is reflected in the 31% share of food and agriculture in DLL's loan portfolio. About half of DLL's lease portfolio consists of Dutch activities in food and agri. Client centricity Long-term participation and a strong customer focus are at the core of DLL's strategy. This is expressed in both the alliances with partners and the dialogue initiated with customers as to how DLL can most effectively add value. DLL is continuously looking at new business models, technologies and digital possibilities that can help therein, and can increase the ease of doing business. In order to offer as much added-value as possible, DLL has specialised in a few areas: food and agri, healthcare, clean technology, transportation, industrial, construction, office technology and automotive. DLL understands what is going on in these industries and can offer fitting solutions to businesses. You can read more about what partnership means for DLL here. 41 Performance

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Annual Reports Rabobank | 2015 | | pagina 42