The amounts due to customers grew by 6% to EUR 249.5 (234.9) billion in 2007, with savings making a significant contribution to this growth. Otherwise, the amounts due to customers rose as a result of the increase in corporate time deposits. The increase in interest rates made time deposits more attractive for corporate clients of the local Rabobanks, resulting in a 19% increase in corporate time deposits, to EUR 55.0 (46.3) billion.
Savings up 13% to EUR 101 billion
The local Rabobanks saw a large inflow of new savings clients in 2007. As a result, savings at Rabobank Group grew by 13% to EUR 101.2 (89.5) billion. The greater part of savings - EUR 89.6 (80.5) billion - is entrusted to the local Rabobanks. Due to the higher short-term interest rate, more private individuals are opting for time deposits. As a result, the proportion of fixed-time deposits grew by 14 percentage points to 26% of total savings. Roparco saw its savings grow by 15% to EUR 4.9 (4.3) billion.
Thanks to the large number of new internet savings clients abroad, savings at four Internet banks abroad grew by 65% to EUR 5.1 (3.1) billion.
