Retained earnings resulted in an increase in equity. This addition caused the item Retained earnings and other reserves to grow by EUR 2.3 billion to EUR 19.7 (17.4) billion in 2007. In the year under review, Rabobank Group issued Capital Securities for private investors in Asia and New Zealand, resulting in a EUR 1.0 billion increase in equity. These retained earnings, particularly, together with the issues caused equity to grow by 7% to EUR 31.4 (29.4) billion. At the end of 2007, 62% of equity consisted of retained earnings and other reserves, 20% of Rabobank Member Certificates, 9% of Capital Securities and Trust Preferred Securities III to VI and 9% of other minority interests.
