Private sector lending up 10% to EUR 356 billion
In 2007, the item Loans to customers grew by 5% to EUR 373.0 (354.9) billion, the greater part by far of which - EUR 356.0 (324.1) billion - concerned private sector lending. In addition, the item loans to clients comprises: lending to the public sector, professional securities transactions and loan adjustments due to hedge accounting. At year-end 2007, lending to the public sector amounted to EUR 5.1 (3.1) billion. The volume of professional securities transactions was EUR 14.4 (28.4) billion.
In 2007, growth in domestic mortgage lending was an important contributor to the 10% increase in private sector lending to EUR 356.0 (324.1) billion. At 31 December 2007, 24% of lending was abroad. Of the loans to private clients, 9% is from Europe excluding the Netherlands, 11% from the Americas, 3% from Australia and New Zealand and 1% from Asia.
50% of private sector lending was to private individuals, 33% to the trade, industry and services (TIS) sector and 17% to the food & agri sector.
The growth of the mortgage portfolio in the Netherlands was an important driver for the 8% increase in lending to private individuals to EUR 180.1 (166.1) billion. Lending to private individuals comprises mainly mortgages and - to a lesser extent - consumer loans. The private mortgages portfolio grew by 10% to EUR 177.4 (160.9) billion.
More real estate loans were granted and De Lage Landen's loan portfolio grew further. This contributed to the 10% growth in lending, to EUR 116.4 (105.5) billion, to enterprises in the trade, industry and services (TIS) sector.
Lending to the food & agri sector grew by 13% to EUR 59.4 (52.5) billion, the greater part of which was to the primary agricultural sector. The growth in lending to the fruit and vegetables and the grain and oil seeds sectors was an important contributor to the growth in lending to the primary agricultural sector to EUR 40.1 (34.3) billion.
Of the loans to private clients, 68%, or EUR 244.1 (220.9) billion, was granted to domestic retail banking clients, with the wholesale banking and international retail banking business accounting for 22%, leasing for 5% and real estate for 4%. The other entities accounted for 1%.
