Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
Retail
In keeping with our new mission 'Growing a better world
together', it is our objective to help our retail customers keep
their finances healthy. For instance, by giving people more
insight into their personal financial situation. Or by providing
access to financial education for young people at an early age.
Providing more mortgages in the Netherlands and
managing more assets for customers
In 2017, our market share in new mortgages increased from
20.6% in 2016 to 22% and we became the largest mortgage
provider in the Netherlands. Our mortgage portfolio is discussed
in detail in the performance chapter. In 2017 we developed a
basic mortgage product to help starters get onto the housing
ladder in an increasingly tight market. These tight market
conditions were reflected by the rise in consumers consulting
independent mortgage brokers for the best mortgage deal.
In response, Rabobank accordingly focused more attention on
the intermediary channel. In 2017, assets under management
increased by EUR 4.4 billion to EUR 43.8 billion. A third of this
positive development is the result of high cash inflows, mainly
from Private Banking customers, and the other two-thirds
comes from positive investment returns.
Focus on younger customers
Rabobank wants to attract and retain young customers in
our client base. To achieve this, we used many test panels to
understand the wishes, needs and experiences of younger
customers. We wanted to listen what they had to say.
These young people actually helped us to launch several
new propositions in 2017 that appeal to a younger customer
base and will help them achieve financial self-reliance and
independence.
One of these propositions is PinPin, which we launched in
October 2017.This virtual reality pocket money app for children
aged between 6 and 12 takes a playful approach to making
them more aware of how to handle money responsibly and
teaching them, for example, the difference between having
money in your savings account and your current account.
The first banking app of its kind in the Netherlands to use
augmented reality, PinPin had already been downloaded over
40,000 times by mid-October, easily beating our initial target of
20,000 users by the end of 2017.
With PASSI, we aim to help our young customers build a
financially healthy life by encouraging them to earn their
own money and develop their skills.The youth platform helps
12-to-18-year-olds find their passion by exploring what they're
good at through partnerships, masterclasses, work placements
or part-time jobs at companies relevant to them.
Supporting vulnerable customers
Rabobank is more than a provider of financial services. We are
committed to the world around us and we are involved with
the local communities in which our customers live and work.
We try to help vulnerable customers become more comfortable
with the digital transformation and the applications that come
with it. With adapted services and tools, we can help people
continue to manage their own banking affairs for as long as
possible.
Banking Together
We introduced the Rabo Scanner Grip, a practical tool which
literally increases people's grip on their scanner via a sticker
- the product was developed after specific feedback from
customers. We continued Banking Together (Samen Bankieren)
a service that supports vulnerable customers in many different
ways, such as workshops for online banking and the Rabo
Cardpuller, which helps people remove their debit card from
cash machines.
Housing and care platform for seniors ('woon-ieef-zorg')
In 2017 we launched an online platform to address housing and
care issues for elderly people in the Netherlands. We developed
the'ikwoonleefzorg.nl'platform in collaboration with Interpolis
Insurance. The idea is to help seniors live independently for
longer by providing knowledge, tips and practical solutions to
housing and care issues they may face.
Commercial Banking and Food Agri
Growth is key for companies to respond to the rapidly changing
world around them, to innovate and to stay ahead of the
competition. We aim to offer a combination of extensive
digital services and personal advice to customers about
what's important for them at key times, giving them insight
into their competitive environment. Our sector management
and research teams work proactively to alert customers on
complex issues such as food safety, animal welfare and market
developments both in the Netherlands and abroad. Click here
to read more about RaboResearch.
Rabobank Annual Report 2017 - Management report
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