About this
Report
Chairman's
Foreword
Corporate
Management Report Appendices Governance
Consolidated Financial Company Financial
Statements Statements
mortgage portfolio decreased slightly due to a still high, though
declining level of early repayment. The total private sector loan
portfolio of the DRB segment decreased to EUR 276.1 (January 1,
2018:279.9) billion. The loan portfolio of Wholesale, Rural Retail
(WRR) increased by EUR 9.1 billion and the portfolio of
Rabobank's leasing subsidiary DLL increased by EUR 3.2 billion in
2018. The aggregate domestic commercial real estate loan
exposure (across all segments) is actively being managed down
and amounted to EUR 21.2 (2017: 22.9) billion at December 31,
2018.
Loan Portfolio
in billions of euros
12-31-2018
1-1-2018
12-31-2017
Total loans and advances to
customers
436.6
429.4
432.6
Of which to government clients
1.9
2.3
2.3
Reverse repurchase transactions and
securities borrowing
12.9
12.9
12.9
Interest rate hedges (hedge accounting)
5.8
6.1
6.4
Private sector loan portfolio
416.0
408.1
411.0
Domestic Retail Banking
276.1
279.9
280.0
Wholesale, Rural Retail
109.0
99.9
101.5
Leasing
30.3
27.1
27.2
Real Estate
0.3
0.7
1.8
Other
0.3
0.5
0.5
The decrease in lending due to the implementation of IFRS 9 was
mainly caused by two reclassifications. Both at Real Estate (FGH
Bank: EUR 1.2 billion) and WRR (ACC Loan Management:
EUR 1.1 billion) the portfolio decreased because a large part of the
loans was mandatorily reclassified as financial assets at fair value
since they were no longer considered strategic to the bank.
The geographical split of the loan portfolio1 as at December 31,
2018 was as follows: 71% in the Netherlands, 11% in North
America, 8% in Europe (outside the Netherlands), 5% in Australia
and New Zealand, 3% in Latin America, and 2% in Asia.
Loan Portfolio by Sector1
in billions of euros
12-31-
2018
12-31-
2017
Loans to private individuals
194.9
47%
198.0
48%
Loans to trade, industry and services
118.0
28%
115.2
28%
of which in the Netherlands
81.5
81.2
of which in other countries
36.5
34.0
Loans to Food Agri
103.1
25%
97.8
24%
of which in the Netherlands
38.1
36.9
of which in other countries
65.0
60.9
Private sector loan portfolio
416.0
100%
411.0
100%
1 In the country where the entity is established.
Deposits from Customers Remained Relatively Stable
Total deposits from customers amounted to EUR 342.4 (January
1, 2018: 343.2) billion2. On January 1, 2018 part of financial
liabilities designated at fair value were reclassified as deposits
from customers (EUR 2.5 billion) after the result of the full
implementation of IFRS 9 (for more information see Interim
Report 2018). Deposits from customers were positively influenced
by FX fluctuations (EUR 0.6 billion). DRB's total client base
deposited an amount of EUR 236.7 (2017: 228.8) billion at
Rabobank. Customer deposits placed at other segments
decreased to EUR 105.7 (2017:114.4) billion, mainly due to lower
balances from corporate customer, which are by nature more
volatile than private savings. At DRB private savings increased by
EUR 2.1 billion to EUR 119.1 billion, while the increase in total
private savings was tempered by a EUR 3.6 billion decrease of
savings at RaboDirect. At RaboDirect in Ireland private savings
decreased by EUR 3.1 billion, caused by the withdrawal from the
Irish retail market as of May 16, 2018. On balance, total private
savings increased by EUR 0.3 billion to EUR 142.7 billion. Excluding
the savings of RaboDirect in Ireland, total deposits from
customers increased by EUR 2.3 billion.
Deposits from Customers
in billions of euros 12-31 -2018
Private savings 142.7
Domestic Retail Banking 119.1
Other segments 23.7
Other deposits from customers 199.7
Domestic Retail Banking 117.7
Other segments 82.0
Total deposits from customers 342.4
1-1-2018 12-31-2017
142.4 142.4
117.0 117.0
25.4 25.4
200.8 198.3
111.8 111.8
89.0 86.5
343.2 340.7
1 Based on country of establishment of the debtor.
2 The figures in this paragraph include the IFRS 9 impact as of January 12018.
Annual Report 2018 - Management Report
52