Domestic retail banking at a glance
Source: Report 2009, chapter Rabobank Group at a glance, page 4
Rabobank Group is not only the largest mortgage lender, savings bank and insurance broker in the Netherlands, but it is also market leader in the SME sector. The 147 autonomous local Rabobanks have 1,010 branches, 3,063 cash-dispensing machines and an employee base of approximately 28,000 FTEs. They serve about 6.7 million retail clients and around 0.8 million corporate clients in the Netherlands, offering a comprehensive range of financial services. Obvion, a joint venture with APG, is also a division of domestic retail banking operations. This mortgage lender teams up with independent mortgage brokers.
Profit was down at domestic retail banking in 2009 due to fierce competition in the savings market and an increase in bad debt costs. Rabobank managed to expand its position in the corporate and mortgage markets. The local Rabobanks were able to entirely self-fund the growth in lending using the increase in amounts due to customers. They are now in the process of implementing the Rabobank 2010 Programme, the aim being to revamp and improve client services at lower cost.