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Triodos Bank's EU Referendum statement
Triodos Bank remains committed to operating in the UK. We will continue to support the nation's sustainable economy and individuals who want to embrace a more conscious approach to banking and finance.
At this stage it is not clear how leaving the EU will affect the UK's financial system and regulatory framework. It is too early to speculate what may happen, but we will conform to any governance or legal requirements which are applicable to the UK financial system.
We anticipate that there will be a transition period over which the details are negotiated. This transition period could be several years, so nothing will happen overnight, and during this period we will work to understand the impact of the changes in order to work out how best to adapt to them.
We believe that the growing appetite for sustainable banking from individuals and organisations alike offers Triodos Bank huge potential to grow both in scale and in terms of the impact it delivers. The outcome of the referendum has not affected the underlying trends driving our growth, and we look forward to continuing to provide a genuinely sustainable banking alternative into the future.
Deposit guarantee scheme and investor compensation scheme
Our personal customers and eligible organisations can rest assured that their money is still protected by the Dutch Guarantee Scheme, as before. Likewise eligible investors are still covered by the Dutch Investor Compensation Scheme. We will notify our customers of any changes to this position in the future. The Deposit Guarantee Scheme guarantees up to €100,000 per person and the Investor Compensation Scheme up to €20,000 per person. More information about the schemes is available here .
Impact on lending and other business banking customers
At this stage it is impossible to predict how the result of the referendum will impact upon the sectors we lend to and our business banking customers. There is however likely to be a period of volatility across the whole of the UK economy, including the sectors in which we are active. We will continue to support our customers and the sustainable sectors we lend to, and work to understand how any implications emerging from leaving the EU affect our customers as they arise.
More from the same category of FAQs:
- What is FATCA?
- What are the International Tax Compliance Regulations?
- Why do Triodos use RBS as their clearing bank in the UK?