About this Report Chairman's Foreword Corporate Management Report Appendices Governance Consolidated Financial Company Financial Statements Statements increase in the portfolio and due to higher restructuring costs. Depreciation remained almost stable at EUR 27 (2017:28) million. Impairment Charges on Financial Assets Remained Stable Impairment charges on financial assets for the Leasing segment remained stable at EUR 105 (2017:106) million in 2018, corresponding with 34 (2017:36) basis points of the average loan portfolio, well below the long-term average of 58 basis points. As DLL's lease portfolio is spread over more than 30 countries and 8 industries, the associated credit risk is geographically diverse and well balanced across all industry sectors. In 2018, there were no new significant individual default cases. Income Tax Increased by EUR 165 Million Income tax in the Leasing segment increased from minus EUR 66 million to EUR 99 million. The 2017 results were heavily impacted by tax reform in the United States, which resulted in a significant one-off tax benefit. Lease Portfolio Increased by 9% The lease portfolio increased to EUR 33.5 (2017: 30.8) billion. DLL supports manufacturers, distributors, and end-user clients within the Lood Agri sector, both internationally and domestically. In 2018, DLL's Lood Agri share of the portfolio increased to EUR 12.8 (2017:11.8) billion; representing 38% (2017: 38%) of the DLL portfolio. The growth of the Lood Agri portfolio was most notable in Europe and Australia. Annual Report 2018 - Appendices 93

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Annual Reports Rabobank | 2018 | | pagina 95