Sustainable bank reports healthy development on all levels
- 8% growth in balance sheet
- 8% growth in total assets under management to EUR 11.5 billion
- Customer numbers up by 9%
- Common Equity Tier 1 Ratio 19.3%
- Net profit EUR 21.9 million
- 7% growth in lending to sustainable businesses
- 48,000 new customers (9% growth)
During the first six months of 2015, Triodos Bank’s balance sheet rose by 8% to EUR 7.7 billion. Growth during the same period last year was 6%.
Total assets under management, comprised of Triodos Bank, Triodos Investment Funds and Triodos Private Banking grew by 8% to EUR 11.5 billion. Triodos Bank has branches in the UK, Netherlands, Belgium, Spain, Germany and an agency in France.
In the first six months of 2015 the number of customers grew by 48,000 to a total of 578,000, an increase of 9%. The UK increased its customer numbers by 4% to just over 48,000.
Triodos Bank’s net profit is EUR 21.9 million
Triodos Bank MD Charles Middleton: “We see continued appetite for sustainable banking and people looking to use their money to support organizations that have a positive impact on society and the environment. We believe that our values based banking model and our transparency about what we do and what we stand for provides a way for people to make money a force for good at a time when the finance sector as a whole is still struggling to address some fundamental shortcomings”
Charles Middleton, MD
Lending to sustainable businesses and projects rose by 7%. Growth of 4% was recorded in the same period in 2014. Stable and healthy lending growth is crucial for Triodos Bank and directly contributes to its mission. Sustainable mortgages grew by 22% in the first half of 2015.The addition to the provision for bad debts decreased markedly to EUR 1.6 million compared with EUR 5.2 million in the same period of 2014. This development reflects a robust loan portfolio and has a positive impact on Triodos Bank’s net profit.
The amount of funds entrusted to Triodos Bank, which are composed of savings, fixed-term deposits, and current accounts, increased by 8% during the first six months of 2015 (2014: 7%).
During the first six month of 2015 the bank's equity increased by 4% to EUR 729 million.
Triodos Bank has a Common Equity Tier 1 ratio (CET1), which is an important indicator of a bank’s solvency, of 19.3%. The leverage ratio is 8.6%. This is far higher than the 3% now considered an appropriate minimum for European banks.
Funds under management
Funds under management consist of two parts: funds managed by Triodos Private Banking and the total amount of money invested in funds managed by Triodos Investment Management.
Assets under management by Triodos Investment Management increased by 9% to EUR 2.9 billion. In the same period in 2014 they decreased by 4%. A significant part of this increase was due to the Triodos Sustainable Funds (Triodos SICAV I), which grew by 19% during the first half of 2015.
In the first half of 2015, funds managed by Triodos Private Banking grew by 9% to EUR 0.9 billion, in line with plans. In the same period of 2014 they grew by 8%.
Triodos Bank UK
Triodos Bank UK saw its lending grow in the first half of 2015 by 9% to EUR 791 million. Customer numbers of the UK branch grew by 4% to a total of almost 48,000. In the first six months of 2015 Triodos Bank UK has increased its balance sheet by 12% to EUR 1.4 billion. Of this 12%, 10% is due to fluctuations in currency exchange rates, and 2% is due to growth in the underlying GBP balance sheet.
Triodos Bank UK expects to continue its growth in the second half of 2015, in line with its mission to create lasting sustainable benefits for people, the environment and culture. To support its growth in the second half of 2015, Triodos Bank UK will continue to focus on its core areas of lending while researching new areas of need that are becoming apparent.
About Triodos Bank
Founded in 1980, Triodos Bank has become a reference point for sustainable banking globally.
Triodos Bank is an independent bank that promotes sustainable and transparent banking. It does not see any conflict between a focus on people and the planet and a good financial return. Instead it believes that they reinforce each other in the long-term.
Triodos Bank has branches in the Netherlands, Belgium, the UK, Spain, Germany and an agency in France. It is a global authority in the field of microfinance in developing countries, Central Asia and Eastern Europe.
Triodos Bank co-founded the Global Alliance for Banking on Values, a network of 27 sustainable banks. Together these banks want to grow sustainable banking and its impact substantially.
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.
Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales BR3012). Authorised by the Dutch Central Bank and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request. Registered office: Triodos Bank, Deanery Road, Bristol BS1 5AS.