- 10% growth of total assets under management to EUR 9 billion
- 11% balance sheet growth
- 5% growth in lending to sustainable businesses
- 40,000 new customers. 477,000 in total
- Net profit up 31%
During the first six months of 2013, Triodos Bank’s balance sheet increased by 11% to EUR 5.9 billion, matching growth during the same period last year.
Assets under management of the Triodos Group, comprised of Triodos Bank, Triodos Investment Funds and Triodos Private Banking grew by 10% to EUR 8.9 billion.
Lending to sustainable business and projects rose by 5%. Growth of 8% was recorded in the same period in 2012.
Triodos Bank’s net profit is EUR 13.4 million, up 35% compared to the same period in 2012.
Customer numbers were also up by over 40,000 or 9%, to 477,000.
Triodos Bank CEO Peter Blom: “The economic situation in Europe resulted in reduced demand for finance and delayed the disbursement of some loans. Despite this, the bank continues to grow. The effects of sustainable enterprises reluctance to borrow are noticeable however. In addition, government cutbacks and a lack of clarity about regulations relating to the development of sustainable energy projects, have made an impact on loan growth. At the same time encouragingly, a growing number of consumers are opting for positive, sustainable change. They are choosing to manage their money in a more conscious way, with customer numbers growing by 40,000 in the first six months of the year.”
The amount of funds entrusted to Triodos Bank, which are composed of savings, fixed-term deposits, and sums in current accounts, increased by 12% during the first six months of 2013 (2012:11%).
The supplement to the provision for bad debts decreased to EUR 5.5 million compared with EUR 12.4 million in the same period of 2012. This development has a positive impact on the bank's profitability.
Capital
Triodos Bank has a BIS ratio, an important indication of its solvency, of 17% and a Common equity Tier 1 ratio of 16.9%. The leverage ratio, as calculated following the new Basel III requirements, is 8.7%. 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. In the first six months of 2013, funds under management grew by 9% to EUR 3 billion. In the same period last year they rose by 3%.
In the first half of 2013, funds managed by Triodos Private Banking grew by 13% to EUR 627 million. In the same period last year they were up by 11%.
The total amount of money invested in funds managed by Triodos Investment Management grew by 8% to EUR 2.4 billion in the first half of 2013, compared to growth of 2% during the same period in 2012. In the first half of 2013, Triodos Groenfonds acquired BNP Paribas Groenfonds. This resulted in a significant increase of 25% in the fund's size to EUR 625 million, by the middle of 2013.
Strong growth of the total Assets under Management of Triodos Fair Share Fund (19%), Triodos Renewables Plc (14%), Triodos SICAV I (14%) and Triodos Microfinance Fund (16%) have also contributed to growth during the first half of 2013.
Prospects
An important point of concern is to grow the loan portfolio while continuing to preserve its quality and diversification. Triodos Bank expects to reach a target of between EUR 60 and 80 million of new capital in 2013. Barring unforeseen circumstances, steady growth in volumes and profits in the second half of 2013 is expected.
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, UK, Spain, Germany and an agency in France. The Bank 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 25 sustainable banks. Together these banks want to grow sustainable banking and its impact substantially.
In 2009 Triodos Bank was voted the most sustainable bank of the year, because of the leadership and innovation 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.
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.