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Interim Financial Information 2013. Rabobank Group – Press Conference. 22 August 2013. Interim Financial Information 2013 – results. Piet Moerland, Chairman of the Executive Board. 22 August 2013. Rabobank Group Decrease in profit amid continuing recession.

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Interim financial information 2013

Interim Financial Information 2013

Rabobank Group – Press Conference

  • 22 August 2013


Interim financial information 2013 results

Interim Financial Information 2013 – results

Piet Moerland, Chairman of the Executive Board

  • 22 August 2013


Rabobank group decrease in profit amid continuing recession

Rabobank GroupDecrease in profit amid continuing recession


Developments in first half of 2013 1

Developments in first half of 2013 (1)

  • Weak economic conditions in the Netherlands

  • Benefit from strategic international focus on food and agri

  • Robeco sold in July

  • New Collective Labour Agreement and transition to new pension scheme

  • LIBOR investigations


Developments in first half of 2013 2

Developments in first half of 2013 (2)

Market shares in the Netherlands

30-Jun-13 31-Dec-12

  • Mortgages31% (31%)

  • Savings39% (39%)

  • Trade, industry and services44% (43%)

    Cooperative dividend


Balance sheet developments and ratios strong positions

Balance sheet developments and ratiosStrong positions


Domestic retail banking division net profit eur 615 million 3

Some recovery of margins on savings deposits

Increase in innovation costs

Slight rise in value adjustments

Domestic retail banking divisionNet profit EUR 615 million; -3%

635

615

  • Loan portfolio EUR 305 billion; -0.5%

  • Amounts due to customers EUR 218 billion; +1.7%

215

307

218

305


Wholesale and international retail net profit eur 496 million 9

Sale of Yes Bank in the first half of 2012

Lower results at Global Financial Markets and Rabo Private Equity

Decrease in value adjustments in Ireland

Wholesale and international retail Net profit EUR 496 million; -9%

543

496

  • Loan portfolio EUR 105 billion; -2.0%

  • Food and agri comprises 50% of the portfolio

  • Amounts due to customers EUR 120 billion; +1.7%

  • IDB savings EUR 27 billion; +12%

118

108

120

105


Leasing net profit eur 232 million 21

Increase in interest income

Limited rise in value adjustments

LeasingNet profit EUR 232 million; +21%

191

232

  • Lease portfolio EUR 30.2 billion; +2.0%

  • Food and agri comprises 30% of the portfolio

29.6

30.2


Real estate net loss rabo real estate group eur 198 million

High(er) impairments on land

Phasing out MAB Development

Increase in bad debt costs

Real EstateNet loss Rabo Real Estate Group EUR 198 million

47

-198

  • Number of homes sold 1,749; -30%

  • Loan portfolio EUR 19.3 billion; +0.5%

  • Assets under management EUR 5.7 billion; +4%

7341

19.2

17200

5.5

19.3

8982

5.7

17800


Interim financial information 2013 analysis

Interim Financial Information 2013 – analysis

Bert Bruggink , CFO

  • 22 August 2013


Lending

Lending

Loan portfolio EUR 454 billion; -0.8%

  • Contraction at local Rabobanks and Rabobank International

  • Growth at Obvion and De Lage Landen

+0%

-1.2%

-1.9%


Home mortgages in the netherlands

Home mortgages EUR 210 billion

Few home sales, amended tax regulations and additional repayments

46% of total lending

Loan-to-value 83%

20% of portfolio financed with NHG

Home mortgages in the Netherlands

209.6

210.1

Value adjustments 6 basis points

  • 6% of total value adjustments

  • Approximately 7,000 or 0.56% customers have a payment arrears of 90 days or more

  • Recovery is no longer possible in the case of approximately 2,800 or 0.23% customers

113

68


Commercial real estate netherlands 1 6 of lending 26 of value adjustments

Commercial real estate Netherlands (1)6% of lending; 26% of value adjustments


Commercial real estate netherlands 2 write downs versus value adjustments

Commercial real estate Netherlands (2)Write-downs versus value adjustments


Funding amounts due to customers and debt securities in issue

FundingAmounts due to customers and debt securities in issue

Amounts due to customers EUR 340 billion; +1.6%

  • Customer savings deposits EUR 156 billion; +4.3%

  • Debt securities in issue EUR 198 billion; EUR -25 billion

  • NSFR 102% and LCR 131%


Equity

Equity


Balance sheet

Balance sheet


Rabobank capital strategy

Rabobank capital strategy

Capital structure in % of risk-weighted assets

Total capital ratio

>20%

Total capital ratio

18.7%

T2 >2.5%

T2 1.8%

Tier 1

17.5%

Tier 1

16.9%

hybrid

capital

approx. 3.5%

hybrid

capital

4%

Core Tier 1

14%

member

certificates

approx. 2%

Core Tier 1

12.9%

member

certificates

3%

retained

earnings &

reserves

9.9%

retained

earnings &

reserves

approx.12%


Value adjustments

Value adjustments

  • Value adjustments 49 bp; long-term average 28 bp

  • Increase primarily at local Rabobanks and Rabo Real Estate Group

  • Decrease at Rabobank International


Profit development rabobank group

Profit development Rabobank Group


Development of capital ratios

Development of capital ratios

* Excluding impact sale of Robeco on 1 July 2013


Interim financial information 2013 current developments

Interim Financial Information 2013 – current developments

Piet Moerland, Chairman of the Executive Board

  • 22 August 2013


Economic outlook

Economic outlook

Slight improvement in worldwide growth

Global economy improves slightly

  • Growth emerging markets limited

  • Outlook US and UK considerably better

  • The Eurozone is pulling out of recession

    Dutch growth hindered by decrease in domestic spending

  • Higher export growth prospects due to higher growth in the US and the UK and return to growth in Eurozone

  • Government austerity measures continue to put pressure on spending

  • Further drop in consumer spending, because of decrease in disposable income

  • Hope is placed in recovery of housing market


Local rabobanks supervised by rn

Local Rabobanks supervised by RN

  • Supervision on local Rabobanks for 90 years.

  • Supervisory role is legally embedded and allocated to Rabobank Nederland.

  • Rabobank Group encompasses 136 autonomous local Rabobanks. They are the foundation of the Rabobank organisation. Each local Rabobank is autonomous and has its own banking licence.

  • Local Rabobanks guarantee each other’s obligations. They can fall back on their centralised organisation Rabobank Nederland.

  • Delegated supervision on behalf of De Nederlandsche Bank has existed since the early 1950s. Supervision pertains to controlled and honest business operations, solvency and liquidity.

  • The principle is that each local Rabobank performs well. If a bank does not perform well, additional guidance is provided by Rabobank Nederland to the local Rabobank concerned. This is a normal part of the continuous improvement for which the local Rabobanks strive.

  • On average 5-10% of the local Rabobanks need additional guidance.


Vision 2016

Vision 2016

  • The world and customer behaviour are changing dramatically.

  • Customers have a need for simple and transparent financial services and want to be able to take care of their financial affairs anytime and anywhere.

  • We are streamlining processes, simplifying the product portfolio and providing self-service online and via mobile phones.

  • This way of serving the customer goes with an efficient organization with a structural higher profitability.

  • From 28,000 to 20,000 jobs and from 136 to 100 local Rabobanks.

  • This will also lower our cost base by EUR 1 billion.

  • Number of branch offices will be halved to approximately 400. Rabobank will still have the most dense branch office network in the Netherlands.

  • Rabobank will look different in 2016, but it is and will remain the cooperative, sound and sustainable bank for its customers.


Interim financial information 20131

Interim Financial Information 2013

Thank you for your attention


Interim financial information 20132

Interim Financial Information 2013


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