2017 was another positive year in the long and proud history of DLL. We once again delivered a healthy financial performance to our parent, Rabobank, and we continued to introduce new products and services to our vendor partners. This was all made possible by an engaged and talented workforce committed to delivering a first-class experience to our customers, and supported by innovative technologies that improve the ease, speed and flexibility of doing business with DLL. Most rewarding is the fact that we accomplished these objectives while making meaningful contributions to the communities within which we operate in more than 30 countries around the world.
The year was not without change. Most significant, was the strategic decision to transfer our domestic Dutch leasing and consumer finance portfolio to Rabobank in April 2017. Consistent with our strategic plan (entitled ‘Focus and Accelerate’), we took this decision in order to further sharpen our focus and accelerate our award-winning vendor finance business. Moving our non-vendor finance activities was intended to bring these products closer to the bank and deliver more value for local Dutch customers. We also announced plans to form a strategic alliance with Erste Group Bank AG to extend our vendor finance capabilities to 10 countries across Central and Eastern Europe. The planned Strategic Alliance Agreement will expand our ability to provide solutions to our vendor partners in more than 40 countries worldwide.