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July 2016 - Business Banking update

04-07-2016 | Business Banking update from Rebecca Pritchard, Head of Business Banking at Triodos Bank.

EU referendum

Despite the market turbulence in the aftermath of the recent EU referendum vote, Triodos Bank is unwavering in supporting its customers to achieve their ambitions for positive environmental and social change. We will endeavour to understand how the implications emerging affect our customers as they arise, and work alongside them to develop solutions. You can read the full statement here.

Ambitions for growth

The growing appetite for sustainable banking offers Triodos strong potential to grow both in scale and in terms of the impact it delivers by connecting our community of depositors to individuals and organisations that make a real difference.

Our lending to sustainable businesses continues to grow. In 2015, we saw an 11% increase in our lending and our loan portfolio stood at £626m. Going forward, the aim is to increase the pace of annual lending growth to 15-20%.

The much anticipated launch of a Triodos current account for personal customers in 2017 signals a new phase in the development of the bank, and together with the steady increase in savings from business and personal customers, underpins our ambitions to broaden our reach.

As part of our strategy, we are lending to a very diverse range of health and social care organisations and expanding our support of the vibrant arts and culture sectors. We also remain very active in the key sectors of social housing and organic farming. Triodos are also investigating new sectors and shaping our offering – more on that in future issues!

We continue to support the UK renewables sector, particularly community ownership models which deliver genuine community benefit, and are progressing several Scottish and Irish wind projects.

With the growing importance of renewable energy in the supply market, capturing the full potential through storage is vital. We are developing our understanding and approach to the energy storage market, producing an insight report beside RegenSW due to be launched in the autumn. The report will take a commercial approach in mapping out the different market areas, examining the state of technology and trends, identifying revenue streams and what we would like to see from leading entrepreneurs and policy makers.

Rebecca Pritchard, Head of Business Banking

A fresh approach to banking

We offer a uniquely sustainable approach to business banking meaning that our ethical values are at the heart of everything.

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