5 Business segments
Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
and awaits the DPP's response to it. Rabobank has insufficient
information to determine if a provision should be recognised
for DPP's possible response.
Other cases
Rabobank Group is subject to other legal proceedings for
which a provision was recognised.These cases are individually
less significant in size and are therefore not further described.
The total provision for those cases combined amounts to 141
On top of the contingent liability cases described above for
which an assessment regarding a possible outflow is not yet
possible, Rabobank Group has identified a number of other, less
relevant cases in terms of size as a contingent liability. Because
these cases are less significant, Rabobank has chosen not to
describe these in detail.The principal amount claimed for those
contingent liability cases combined amounts to 91
The business segments Rabobank uses in its reporting are
defined from a management viewpoint.This means that the
segments are reviewed as part of the strategic management
of Rabobank and are used for the purpose of making business
decisions with different risks and returns.
As part of the ongoing change of the bank following our
strategic objectives Rabobank has changed the set-up and
internal reporting of the business segments as of 1 April 2017.
Treasury, which was formerly part of the WRR (Wholesale, Rural
6 Retail) segment, is now reported within other group functions
under'Other segments'. Furthermore, in 2017 the portfolio
of DLL's Financial Solutions was transferred to the business
segment domestic retail banking and a large part of the loan
portfolio of FGFI Bank which was previously in the real estate
segment was integrated in the domestic retail banking and WRR
segment. In line with IFRS 8 the following tables contain the
segment information in the new structure.The previous period
segment information is also represented in the new structure
and the figures have been adjusted accordingly.This reflects
Rabobank group's organisational structure and forms the basis
for internal management reporting.
Rabobank distinguishes five major business segments: domestic
retail banking; WRR; leasing; real estate; and other segments.
Domestic retail banking mainly encompasses the activities of
the local Rabobanks, Obvion, Financial Solutions and Roparco.
WRR supports the Rabobank Group in becoming the market
leader in the Netherlands and focuses on the Food Agri
sectors at international level. This segment develops corporate
banking activities on a regional basis and in addition controls
globally operating divisions such as Markets, Acquisition
Finance, Global Corporate Clients, Export Finance Project
Finance, Trade Commodity Finance and Financial Institutions
Group. The segment also actively involves International Direct
Retail Banking and Private Equity. International Rural Retail
operations forms a part of the Rabobank label, with the
exception of ACC Loan Management. In the leasing segment,
DLL is responsible for leasing activities and offers a wide range
of leasing products. Manufacturers, vendors and distributors
are globally supported in their sales with products relevant to
asset financing. Real estate mainly encompasses the activities
of Bouwfonds Property Development, Bouwfonds Investment
Management and FGFI Bank. The core activities are the
development of housing, financing and asset management.
Other segments within Rabobank include various sub-
segments of which no single segment can be listed separately.
This segment mainly comprises the financial results of associates
(in particular Achmea B.V.), treasury and head office operations.
There are no customers who represent more than a 10% share
in the total revenues of Rabobank. Transactions between
the various business segments are conducted under regular
commercial terms. Other than operating activities, there is no
other material comprehensive income between the business
segments.The financial reporting principles used forthe
segments are identical to those described in the 'Accounting
policies' section.
Rabobank Annual Report 2017 - Consolidated financial statements
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