Triodos Bank announces 73% growth in lending and commitments in 2009
15-01-2010 | Triodos Bank, the ethical banking experts, today announced annual growth to its UK lending of 20% during 2009. The £41 million net increase takes the bank's total UK lending to nearly £250 million. The Bank also agreed a further £150 million of loans with customers during the year, taking growth in total lending and commitments to 73%. Triodos operates an ethical, transparent and sustainable banking model, and only finances organisations that deliver social, environmental or cultural benefits.
Key UK figures for 2009
- In 2009 Triodos' UK lending and commitments grew by 73%
- Their UK loan book grew by 20% (£41m) to £248m
- Over £150m of further loans have been agreed with Triodos customers in 2009
- Gross new loans paid out nearly £60m in 2009
- They also saw 15% growth of their business and charity banking borrowing customer numbers
"73% growth is phenomenal for any organisation, let alone a bank," says Dr Bevis Watts, Triodos Bank's Head of Business Banking. "Several factors have fuelled the growth, including Triodos' strong position and ability to lend, and increasing demand for sustainable banking. We've also seen continued growth in several of our core markets, and have diversified into key new environmental and social markets".
Triodos uses money saved by its customers to finance organisations that benefit people or the environment. Organisations that borrowed from Triodos Bank in 2009 include Hugh Fearnley-Whittingstall's River Cottage Canteen Bath and Agrivert's In-Vessel-Composting plant in Ardley, Oxfordshire, which processes organic waste into compost.
"Our diversification into new markets such as food waste processing signals new areas of growth where we expect to significantly increase our lending in 2010," says Dr Bevis Watts.
To find out more about Triodos Bank's range of banking services, visit
www.triodos.co.uk or call free on 0500 008 720.
Lending by sector
Growth in Social Lending
- Lending and commitments to social organisations such as charities, social enterprises, housing associations and healthcare organisations grew by 83% in 2009.
- Commitments to Housing Associations was the largest growth area with nearly £100m of loan facilities agreed in 2009.
Growth in Environment Lending
- Lending to Environmental businesses and organisations grew by almost 30% to £73m.
- Lending and commitments grew by over 200% - with £50m already committed to be paid out in 2010.
- The main area for growth was on-shore Wind energy, and we also financed our first two food waste processing facilities.
Growth in Farming, Food and Trade
- Lending to food, farming and trading businesses grew by 14% to a total over £52m.
- Organic farming was the largest sector of growth with 30% growth. Triodos Bank in the UK now has nearly 250 loans totalling over £32m to organic farms.
- Non-food retail was also a contributor to growth.
- Lending in Scotland grew by 54% in 2009 to £37m.
- Organic food and farming, and art and culture were the two main areas of growth.
- Lending and commitments in Wales grew by 44% with our Welsh loan book now totalling over £20m for the first time.
- On-shore Wind was the largest area of growth.
Triodos Bank's full international results will be available in April 2010.
Notes to editors
For more information, case studies, customer quotes, or to arrange interviews, please contact:
Sophie Rivett-Carnac on 07855 834 430 - firstname.lastname@example.org
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 bankâ€™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 office opened in 1995 and is based in Bristol.