26. Provisions
About this
Report
Chairman's
Foreword
Management Report Appendices
Corporate
Governance
Consolidated Financial
Statements
Company Financial
Statements
Amounts in millions of euros Note
2018
2017
Restructuring provision
318
332
Provision for legal issues
469
591
Impairment allowances on loan commitments
and financial guarantees 4.3.3
109
20
Other provisions
230
594
Total provisions
1,126
1,537
Amounts in millions of euros
Opening balance on January 1,2018
Additions
Withdrawals
Releases
Closing balance on December 31,2018
Restructuring
provision
Provision for
legal issues
Other provisions
Total
332
213
(134)
(93)
318
591
109
(214)
(17)
469
594
108
(415)
(57)
230
1,517
430
(763)
(167)
1,017
Opening balance on January 1,2017
Additions
Withdrawals
Releases
Closing balance on December 31,2017
461
309
(288)
(150)
332
770
149
(300)
(28)
591
244
448
(90)
(8)
594
1,475
906
(678)
(186)
1,517
In the additions of the restructuring provision, an amount of
EUR 151 million (2017: EUR 192 million) is included forthe
reorganization program of the local Rabobanks. This
reorganisation provision consists of future payments relating to
redundancy pay and other costs directly attributable to the
reorganization program. These expenses are included when a
redundancy scheme is drawn up and communicated to
stakeholders. The expected outflow of funds will occur in 2019
and 2020.
An addition of EUR 52 million (2017: EUR 51 million) in the
provision for legal issues was made for the SME interest rate
derivatives recovery framework. For additional information,
please refer to Section 4.10, "Legal and arbitration proceedings."
Maturities of Provisions
Amounts in millions of euros
On December 31,2018
On December 31,2017
Longer
Not than 1 Longer
exceeding year but than
one year less than 5 years
5 years
Total
917
1,421
207
116
2 1,126
1,537
Annual Report 2018 - Consolidated Financial Statements
194
