Profits up 3% at DLL
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De Lage Landen continues to be solid earner for its Dutch parent
Rabobank despite the lessor having decided this year to focus on
developing margins rather than its portfolio.
Compared with some parts of the bank De lage Landen has
performed reasonably with year-on-year profits for the first half
of 2008 up 3 percent, a total of €112 million. In contrast net
profits Rabobank’s real estate arm declined 16 per cent during this
period, and 88 per cent in its wholesale and international retail
banking arm.
Its lease portfolio has grown 4 per cent since June 2007 to
reach €21.6 billion, down on the 10 per cent upturn it saw during
H1 2006 and H1 2007. De Lage Landen attributed this slowdown to the
fact “growth was restricted by the decline in value of the US
dollar”.
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