Dit prospectus is gemaakt voor de uitgifte van dit product en ... - Iex

Year ended 31 December 2007 compared to year ended 31 December 2006Total income. Total income increased by 77 per cent. to € 1,479 million compared to € 836 million in 2006.Increases in both commission and other income were important drivers for the growth.Interest. Interest decreased by € 4 million to € 82 million compared to € 86 million in 2006.Fees and commission. Fees and commission income increased by € 441 million to € 1,089 million comparedto € 648 million in 2006. The increase in commission income was largely due to Sarasin’s full consolidationas from year-end 2006. The strong investment performance of the Transtrend Diversified Trend Programmeand the expansion of Rabobank Group’s interest in Transtrend also contributed to the increase in commissionincome.Other income. Other income increased by € 206 million to € 308 million compared to € 102 million in 2006.The gains from the sale at Sarasin of both its Luxembourg and its brokerage activities were important driversfor this increase.Operating expenses. Total operating expenses were 80 per cent. higher in 2007, at € 991 million compared to€ 551 million in 2006. The increase was largely the result of the consolidation of Sarasin.Staff costs. Staff costs increased by € 251 million to € 581 million compared to € 330 million in 2006, mainlydue to the consolidation of Sarasin at the end of 2006.Other administrative expenses. Other administrative expenses were € 176 million higher at € 386 millioncompared to € 210 million in 2006. The increase was also mainly due to the consolidation of Sarasin.Depreciation. Depreciation increased by € 13 million to € 24 million compared to € 11 million in 2006.Besides the consolidation of Sarasin, the increase was also the result of higher depreciation on software.Taxation. Taxation increased by € 63 million to € 125 million compared to € 62 million in 2006.Net profit. Net profit increased by 62 per cent. to € 362 million compared to € 223 million in 2006.LeasingThe following table sets forth certain summarised financial information for Rabobank Group’s leasingbusiness for the years indicated:Year ended 31 December20082007(restated) 2007 2006(in millions of euro)Interest ............................................. 530 518 518 507Fees and commission....................... 61 52 52 49Other income ................................... 424 425 425 286Total income ................................... 1,015 995 995 842Staff costs ........................................ 377 369 369 305Other administrative expenses......... 188 193 193 168265