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Posts Tagged ‘Robobank’

Rabobank Group recorded a net profit of the first semester of 2010 increased by 26 percent to 1.661 billion euros compared with the same period the previous year which amounted to 1.316 billion euros.

Meanwhile, liquidity and equity position continues to increase to exceed 40 billion euros. Tier I ratio increased 1.1 points to 14.9 per cent level and the Rate of Return on Equity (Return on Equity / ROE) stood at 10.3 percent level.

“Although the economic recovery continues slowly, the Dutch economy is now also shows erratic movement which actually helped some of our customers to improve their financial performance”, said Chairman of the Executive Board of Rabobank Group Piet Moerland in a press release to okezone, Monday (30 / 8 / 2010).

As a result of uncertain economic recovery is the reduction of bad debt expenses amounted to approximately 50 percent at Rabobank.

“We need a strong capital position to be able to continue to offer the best service to customers, our retail and wholesale, as well as maintaining good relations with them, at this moment and also in the future. One area that remains our focus is operational efficiency, where we will not eliminate the benefit of our clients and members. And as a cooperative bank, we remain committed to improving innovation and our role in society, “he added.

The Rabobank market share in the housing loan market increased slightly to 31 percent and market share in the SME market Rabobank remain in figures 41 percent. Loans to food and agriculture sector continues to increase at Rabobank International and De Lage Landen.

Loan portfolio increased from the second division due, one by the rising value of U.S. dollar. During the first six months of 2010, so the loan at the group level increased five percent to 435 billion euros.

Meanwhile, during this first semester Rabobank collect more customer deposits so that customers’ funds increased by four percent at the group level, reaching 298 billion euros. More retail customers entrust their money to local banks Rabobank, where this is an impact on savings deposits increased by 3 percent to 125 billion euros.

Inflow of assets and the soaring value of assets in U.S. dollars and Swiss francs have an impact on increasing funds under management and funds custodian for customers to reach 298 billion euros. As conditions in financial markets, investment returns to clients at an average rate of negative.

“Uncertain economic recovery in the second half of 2010 led to increased customer activity carefully, as a result of loan growth is still limited. We predict that although the cost of bad debts still exceed the average long term, these figures will remain below average in the year 2009. Rabobank Group expects to continue to strengthen its capital position and maintaining its liquidity position in the second half of this year