Financial results of leasing
Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
The digital transformation continues
DLL is committed to delivering the best experience to its vendor
partners, increasing the ease, speed and quality of doing business
through innovative solutions. In close collaboration with its
partners, DLL is developing mobile applications, portals and
partner integration through APIs (Application Programming
Interface) that enable them to collaborate and transact with
DLL at the point of sale any time using any device. DLL's market-
Rabobank's domestic retail banking business segment. For a
like-for-like comparison, the lease portfolio at 31 December
2016 was adjusted by EUR 4.4 billion and restated to EUR 30.5
billion from EUR 34.9 billion.
Results
leading solutions create a competitive advantage in new business
in millions of euros
31-12-2017
31-12-2016
Change
development, and are an early indicator of innovation leadership.
Net interest income
1,008
917
10%
Net fee and commission income
75
82
-9%
Other results
207
816
-75%
This progress was not only recognised by DLL vendor partners,
Income
1,290
1,815
-29%
but also by industry peers. In November 2017, DLL received
Staff costs
487
606
-20%
the Digital Innovation award from Leasing Life, one of the top
Other administrative expenses
227
235
-3%
leasing industry journals in Europe, as selected by a highly
Depreciation
28
31
-10%
qualified jury of experts with longstanding experience in both
Operating expenses
742
872
-15%
the European asset finance industry and technology sector.
Gross result
548
943
-42%
Loan impairment charges
106
94
13%
Regulatory levies
22
22
0%
Lease portfolio increased slightly
Operating profit before tax
420
827
-49%
The lease portfolio increased slightly to EUR 30.8 (2016: 30.5)
Taxation
(71)
170
-142%
billion. Currency effects negatively impacted portfolio growth
Net profit
491
657
-25%
by approximately EUR 2 billion. DLL promotes Rabobank's
Banking for Food and Banking for the Netherlands strategies
Loan impairment charges (in basis points)
36
32
by supporting manufacturers, distributors and end-user clients
Ratios
within the Food Agri sector, both internationally and within
Cost/income ratio exclusive regulatory levies
57.5%
48.0%
the Netherlands. In 2017, DLL's Food and Agriculture share of
Cost/income ratio inclusive regulatory levies
59.2%
49.3%
the portfolio remained stable at EUR 11.8 (2016:11.8) billion and
now represents 38% (2016: 39%) ofthe DLL portfolio.
Balance sheet (in EUR billion)
Lease portfolio
30.8
30.5
-1%
As of April 2017, the portfolio of DLL's Financial Solutions
Number of internal employees (in FTEs)
4,302
4,062
6%
division (leasing and consumer finance products offered to
Number of external employees (in FTEs)
335
305
10%
Rabobank customers in the Netherlands) was transferred to
Total number of employees (in FTEs)
4,637
4,367
6%
Lease portfolio by division
at year-end 2017
v
Food and agri
Construction, transportation
and industrial
Office technology
Healthcare and clean technology
Other
25%
19%
10%
Lease portfolio by region
at year-end 2017
America
Europe
Asia/Pacific
45%
Rabobank Annual Report 2017 - Appendices
136
