Triodos grows by 30% in 2009
25-02-2010 | Funds entrusted to the Triodos Group, comprised of Triodos Bank, Triodos Investment Funds and Triodos Private Banking grew in 2009 by 30%, to EUR 4.9 billion. Customer numbers increased by over 50,000 to 242,000.
Lending, which is exclusively to sustainable organisations, was up by 31% to EUR 1.7 billion, representing record growth in the bank's 30 year history.
Net profit in 2009 was EUR 9.5 million, reflecting a 6% decrease on 2008. The key factor in the decline was a provision for the Dutch deposit guarantee scheme of EUR 2.6 million following the collapse of DSB Bank, a Dutch private bank.
- Sustainable banking maintains long-term growth
- Triodos Group grows by 30%
- Over 50,000 new clients join the bank
- Stable profit and a record year of lending
Triodos Bank's most important ambition in 2010 is to grow the loan portfolio by 40%, an increase on last year's record performance.
CEO Peter Blom: "We want to accelerate our lending to sustainable entrepreneurs. The renewable energy market is flourishing, for example. We know it well and want to play an important role financing its expansion. After a successful share issue in the Autumn of 2009 and with a strong flow of savings, we are in a better position than most banks to lend even more. Our German branch, which opened its doors in December last year, will further bolster this growth."
By the end of 2009 Triodos Bank, and its climate and energy funds under management, financed over 275 renewable energy projects across Europe. Together they have generating capacity of 950 MW of clean, green energy. This includes 175 wind farms, 85 solar plants and various small biomass and hydro projects, producing approximately 2.25 billion kWh per annum, or the equivalent of the electricity consumption of around 630,000 European households. This green power avoids over 800,000 tonnes of CO2 emissions every year. In January of this year the generation capacity financed by Triodos passed 1,000 MW.
Peter Blom: "Most politicians and the media only focus on the financial crisis, but we are also grappling with poverty and climate crises which could do much more harm. If we focus on financing renewable energy we can help to solve both these major challenges at the same time. Banks play a crucial role in this transition and can fuel a more sustainable economy. Government can play their part providing the conditions for this transition to happen. For example, a feed-in-tariff has successfully supported the development of the solar and wind sector in Germany. But examples of this kind are rare."
Triodos Investment Funds grew by 31% in 2009. Total funds entrusted in 2009 were EUR 1.6 billion, following a decrease in 2008 of 6%. Apart from the Real Estate Fund, which declined slightly, all the investment sectors enjoyed positive growth.
Triodos Investment Funds invest in sustainable sectors such as microfinance, organic agriculture, cultural projects, renewable energy, sustainable real estate, and stock-market listed companies who are screened for their social and environmental performance.
2009 highlights in figures
- Triodos Bank balance sheet: EUR 3.0 billion (26% growth)
- Triodos Investment Funds: EUR 1.6 billion (31% growth)
- Number of customers: 242,000 (27% growth)
- Sustainable lending: EUR 1.7 billion (31% growth)
- Triodos Bank net profit: EUR 9.5 million (6% decrease)
- Solvency ratio (or BIS-ratio), an important measure of a bank's solvency, is 16.3% (2008: 13.0%)
- Number of co-workers: 576 (21% growth)
Prospects for 2010
Excluding unforeseen circumstances, the Bank expects to achieve a positive result in 2010. It will actively contribute to a more sustainable future, by responding to the social, environmental and cultural challenges we face.
Triodos Bank is an independent bank that promotes sustainable and transparent banking. The Bank, which was founded in 1980, does not see any conflict between a focus on people and the earth and a good financial return. Instead it is convinced that they will reinforce each other in the long-term.
Triodos Bank was involved from the very beginning in fiscal promotion schemes for green, social-ethical and cultural projects in the Netherlands. Triodos Bank launched the first green fund and culture fund in the Netherlands and is a global authority in the field of microfinance in development countries, Central Asia and Eastern Europe.
Through its activities Triodos Bank wants to boost the market for sustainable banking. The Bank has branches in the Netherlands, Belgium, the UK, Spain and Germany.
Triodos Bank N.V. has a full banking licence and is registered with The Nederlandsche Bank N.V. (the Dutch central bank) and The Netherlands Authority for the Financial Markets.
Global Alliance for Banking on Values
Triodos Bank is co-founder of the Global Alliance for Banking on Values, a network of eleven sustainable and successful banks. United in the in the Global Alliance these banks want to contribute to sustainable development. That the bank model is successful is shown by the solid growth of all the banks despite the financial crises. The eleven banks are: Shore Bank (US), BRAC Bank (Bangladesh), GLS Bank (Germany), Merkur Bank (Denmark), Mibanco (Peru), Banca Popolare Etica (Italy), Banex (Nicaragua), ABS (Switzerland), NewResource Bank (US), Xac-Bank (Mongolia), and Triodos Bank.
Sustainable Bank of the Year
In 2009 Triodos Bank was voted the most sustainable bank of the year. This prize was awarded because of the leadership and the innovation that Triodos Bank has shown for the past 30 years in integrating sustainability in all its activities. An international jury, appointed by the Financial Times and the IFC - a member of the World Bank - voted for the winners at the FT Sustainable Banking Awards.
Zeist (NL), 25 February 2010
Notes for editors
For more information, please contact Thomas Steiner: Telephone +31 30 693 65 20 (direct) or +31 6 534 888 13 (mobile) or e-mail: email@example.com