Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
63.9) billion and accounted for 60% (2016: 59%) ofWRR's total
loan portfolio. Loans to the Trade, industry and services (TIS)
sectors declined to EUR 38.4 (2016:42.3) billion. Lending to
private individuals landed at EUR 2.2 (2016: 2.4) billion.
The integration of FGEH Bank within Rabobank started in
November 2016. In 2017, part of the commercial real estate loan
portfolio of FGH Bank was integrated into the WRR segment.
For a like-for-l ike comparison we have restated the private
sector loan portfolio at 31 December 2016 by EUR 3.4 billion to
EUR 108.6 billion from EUR 105.2 billion.
Dutch and international wholesale
WRR's wholesale portfolio totalled EUR 64.5 (68.5) billion.
Currency effects had a negative impact of approximately EUR 5
billion on the wholesale portfolio. Lending to the largest Dutch
companies remained stable in 2017 at EUR 17.1 (2016:17.2)
billion, supporting our Banking for the Netherlands strategy. Of
WRR's loan portfolio, EUR 47.4 (2016: 51.3) billion was granted to
wholesale clients outside of the Netherlands.
International rural and retail banking
The loan portfolio to rural and retail clients amounted to EUR 36.9
(2016: 39.6) billion on 31 December 2017. Currency effects had
a negative impact of approximately EUR 4 billion on the rural
and retail loan portfolio. In the main markets for rural banking,
the loan portfolio totalled EUR 10.2 (2016:10.3) billion in Australia,
EUR 6.1 (2016:6.5) billion in New Zealand, EUR 7.1 (2016: 7.5)
billion in the United States, EUR 2.9 (2016:2.9) billion in Brazil,
and EURO.9 (2016:1.0) billion in Chile on 31 December 2017.
Rabobank operates international retail banking activities through
subsidiaries in two countries: in the United States, Rabobank is
active through Rabobank National Association (RNA) and in
Indonesia, through Rabobank International Indonesia (Rll).
RNA's portfolio decreased to EUR 8.3 (2016: 9.6) billion.
Private saving at RaboDirect decreased by 9%
RaboDirect is Rabobank's online bank that operates in Belgium,
Germany, Ireland, Australia and New Zealand. Private savings
entrusted by clients to RaboDirect are used for funding
the international rural and retail banking business and
other divisions of Rabobank Group. The savings balances of
RaboDirect showed a modest decrease (partly due to fx effects)
to EUR 28.3 (2016: 31.1) billion in 2017 and represented 20%
(2016:22%) of the total private savings held at Rabobank. The
number of internet savings bank clients grew to approximately
934,000 (2016: 923,000). In Ireland RaboDirect off-boarded the
savings book gathered through third parties.
Loan portfolio by region
at year-end 2017
I North America 30%
I Australia and New Zealand 19%
I Netherlands 17%
Europe (excluding the Netherlands) 15%
I Latin America 11%
Asia 8%
Loan portfolio by sector
in billions of euros
120
31-12 31-12 31-12 31-12
2014 2015 2016 2017
v
Food and agri
US
I Private individuals
Distribution of private savings
ofRabo Direct
in billions of euros
40
30
31-12 31-12 31-12 31-12
2014 2015 2016 2017
v
Germany
Ireland
I Belgium
I Australia and New Zealand
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