Peru - Mibanco s.a.
Triodos Bank announces strong growth, of 23%, in 2007
29 February 2008 – Triodos Bank’s balance sheet total grew by 23% to EUR 1.9 billion. The bank’s net profit rose by 46% to EUR 9 million. Earnings per share rose by 13%, to EUR 3.85.
The total funds entrusted to the Triodos Bank Group, consisting of Triodos Bank and the managed funds, grew by 17% in 2007 to EUR 3.3 billion.
Public concern about climate change prompted significant interest in Triodos Bank during the year. So much so that 2007 can justifiably be called the year of the Sustainable Breakthrough. There is extensive interest in the issue of sustainability across Europe.
CEO Peter Blom says: “The extra interest in Triodos Bank and the increased demand for our sustainable products is built on our work over 27 years: investing consistently and exclusively in companies and projects which contribute to sustainability, to a society which enjoys a higher quality of life.”
Sustainable development is advancing apace. And Triodos Bank is no longer the only company striving for it. Peter Blom: “The spread is welcome, but can be accompanied by superficiality. Sometimes sustainability appears to be merely a marketing gimmick. Deepening remains of great importance. But Sustainability is about much more. It’s about a different view of the economy, society and ecology. That is what Triodos Bank wants to continue to focus on over the coming years.”
Credit crunch
Peter Blom: “By sticking firmly to our own approach, the crisis currently impacting on the banking industry is bypassing Triodos Bank. This crisis is the caused by losing touch with the real economy. Triodos Bank makes the conscious choice to remain close to the real economy. We do not get involved in speculative derivatives. Instead the bank invests its savings in concrete sustainable businesses and has direct contact with the entrepreneur. That too is a form of sustainability.”
Financial results
The bank’s income rose by 29% in 2007 to EUR 59 million. The commission income in 2007 made up 34% of the total income (2006: 33%).
The net profit rose by 46% to EUR 9.0 million. Earnings per share calculated over the average number of issued shares over the financial year was EUR 3.85, a rise of 13%. The bank proposes paying a dividend of EUR 1.95 per share (2006: EUR 1.80). This makes the pay-out ratio 51% (2006: 53%).
The profit target for the medium term is 7% on the bank’s shareholders’ equity. The mature offices (The Netherlands, Belgium and the United Kingdom) have already achieved that level. This is not yet the case for the office in Spain. Spain is expected to be able to achieve a comparable return within a few years.
The solvency ratio (or BIS ratio), an important measure of the financial strength of a bank, rose significantly in 2007 from 13.5% at the end of 2006 to 17.8% at the end of 2007. This percentage is well above the statutory minimum of 8%.
100% climate neutral
Triodos Bank is reducing the impact of its activities and services on the environment to an absolute minimum by taking steps to conserve energy and use green power. The remaining CO2 emissions are offset with CO2 credits. Triodos Bank is the first bank in the world to be 100% CO2 neutral since 2000.
Sustainable banking
Triodos Bank is an independent bank which stands for sustainable and transparent banking. The bank, which was founded in 1980, does not set concern for people and the environment against a good financial return in the short term, but is convinced that they will actually strengthen one another in the longer term.
Triodos Bank enables money to work for positive social, environmental and cultural change. It offers a comprehensive range of banking services for social businesses, charities and groups along with a variety of savings accounts and sustainable investment funds for individuals.
Triodos Bank only lends money to organisations and businesses that benefit people and the environment.
Triodos Bank has 153,000 customers and a portfolio of 6,400 loans. The bank has offices in The Netherlands, Belgium, the United Kingdom and Spain and an agency in Germany. The bank has 400 co-workers.
Triodos Bank again anticipates strong growth in its activities in 2008. The bank expects to contribute actively to the social debate about how to make our lifestyle sustainable, in words and actions and by further disseminating the bank’s knowledge and experience in the field of sustainable financing and banking.
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