Triodos Bank Half-year figures 2012
- 9% increase in lending to sustainable businesses
- Equity increase of 5%. Core Tier 1 ratio of 14.3%
- 40,000 new customers
- Net profit up 31%
During the first six months of 2012, Triodos Bank’s balance sheet total increased by 11% to EUR 4.8 billion. Growth during the same period last year was 7%.
Lending to sustainable business and projects rose by 9%, in line with ambitious targets for 2012.
Triodos Bank’s net profit is EUR 9.9 million, a growth of 31% compared to the same period in 2011.
Funds entrusted to the Triodos Group, comprised of Triodos Bank, Triodos Investment Funds and Triodos Private Banking grew by 8% to EUR 7.3 billion.
Customer numbers were up by over 40,000 or 11%, to 395,000.
“These figures show a balanced growth and development of the bank despite challenging economic times” says CEO, Peter Blom.
Peter Blom: “We live in a time of uncertainty and opportunity. Despite a deepening economic crisis in some parts of the world, there is an unprecedented chance to both reinvent failing systems and build on a growing movement of sustainable initiatives. This pattern of positive change is gathering momentum. It has seen the impact of values-driven enterprise increase significantly, at the forefront of a new way of living, working and doing business.”
The amount of funds entrusted to Triodos Bank, which are composed of savings, fixed-term deposits, and sums in current accounts, increased by 11% during the first six months of 2012 (2011:7%).
The large majority of the loan portfolio has coped well with the economic downturn, and has not resulted in significant changes to our provisions for bad debts. However, we continued to experience some problems with loans to biomass projects in the first half of the year. These issues were particularly relevant for the Dutch market. Our level of provisions to this sector increased by EUR 6.6 million in the first half of 2012.
Capital Raising Success
Triodos Bank has a BIS ratio, an important indication of its solvency, of 14.6% and a Core Tier 1 ratio of 14.3%. Triodos Bank has always had a strong capital position. To maintain it and to enable further growth of its loan portfolio, Triodos Bank continues to raise new capital, both by making shares (depository receipts) available throughout the year and through targeted campaigns. This strategy has proved to be successful. In the second half of 2012, Triodos Bank will continue with capital raising campaigns run via local branches. It expects to reach a target of EUR 60 to 80 million by the year end.
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 2012 funds under management grew by 3% to EUR 2.6 billion. In the same period last year they decreased by 1%.
In the first half of 2012 funds managed by Triodos Private Banking grew by 11% to EUR 484 million, matching percentage growth in the same period in 2011.
The total amount of money invested in funds managed by Triodos Investment Management grew by 2% to EUR 2.1 billion in the first half of 2012, compared to a decline of 3% during the same period in 2011. Despite an uncertain investment climate, investors have continued to take advantage of a sector that has maintained healthy opportunities to invest.
Of twenty funds in total, three Dutch funds are subject to tax incentives. The Dutch government has agreed changes to these schemes, which will be implemented in January 2013. This means tax benefits on green investing will remain at the same level, which is positive news for Triodos Groenfonds. However, the tax benefits for Triodos Cultuurfonds and Triodos Fair Share Fund will end at the beginning of next year.
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 and Germany. 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 22 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.