Triodos Bank reports record lending to ethical businesses
UK lending grows by 18.5% in four-month period
13-05-2011 | Ethical and sustainable bank Triodos today announced its UK lending to businesses grew by a record 18.5 % in the first four months of 2011.
The UK loan book grew by almost £60m to £370m - or 18.5% - to the end of April, nearly equalling the £64m growth the bank achieved in the whole 12 months of 2010.
Additionally, business customers who have agreed guaranteed loan facilities with the bank - which so far have not been drawn-down - means the current total lending and commitments stand at £580m.
The UK's largest social lender reported that social sector projects such as alternative forms of care and social housing accounted for the largest proportion of growth with community ownership projects (eg: community land trusts) also an increasing area of activity.
Dr Bevis Watts, head of business banking at Triodos, said: "This substantial new lending demonstrates that no other finance organisation is doing more to deliver political aspirations for a Big Society.
"We are supporting some of the most innovative projects in the country - projects we consider important, for the good of UK people, and which are sustainable.
"We believe the current economic situation continues to present a wide range of opportunities for social and community-focused businesses and we are committed to supporting their vision.
"Community ownership and empowerment is an agenda Triodos is particularly keen to support. In an era when the UK's public sector does not have the resources to develop new infrastructure and amenities, leasing publicly owned land and assets to communities - in, for example, community land trusts - provides an opportunity to finance change in a different way."
Recent customers to borrow from Triodos Bank include Utility Aid, Ruskin Mill, Broadway Lodge, Nehemia Housing Association, Alnwick Community Development Trust and The Whole Works.
To find out more about Triodos Bank's range of banking services, please visit www.triodos.co.uk or call free on 0500 008 720.
Notes to editors
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Triodos Bank only finances enterprises which create social, environmental or cultural added value. Key sectors include organic food and farming, renewable energy, social housing, and fair trade. Transparency is a core value: customers are informed about the bank's lending and can target their savings to particular areas of investment. A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK branch opened in 1995 and is based in Bristol.