Sustainable bank Triodos sees 20% growth in assets in 2013
Wednesday, March 5th, 2014 By
Triodos, one of Europe’s leading sustainable banks, has revealed its total assets under management increased 20% to €9.6 billion (£7.9 billion) in 2013. Meanwhile, the €25.7m (£21.2m) it made in net profits was a 14% improvement over 2012.
It also registered an 18% increase of customers, which now exceed 500,000 in the Netherlands, Belgium, the UK, Spain and Germany, and its balance sheet grew 22% to €6.4 billion (£5.3 billion).
Triodos Bank CEO Peter Blom said, “With consistent, balanced growth in recent years Triodos Bank has become a medium size European bank. There is clearly a demand for a bank like Triodos Bank.”
Blom said that Triodos’ efforts for 2014 will focus on the quality and diversification of its loan book, in order to encourage resilient and sustainable businesses. It expects smaller growth in the new year, but it is confident it will be able to widen its customer base.
“Long-term finance is a key component of a more sustainable economy. Financial markets’ propensity to focus on the short term drains resources away from the real economy into an abstract financial system”, Blom said.
“By adopting a long-term approach, banks will consider longer-term systemic perspectives in a much stronger way. This will lead to more sustainable business models which take long-term effects on the environment and the community into account.”
The bank’s investment arm, Triodos Investment Management, recently launched a £20m fund aimed at organic food companies across Europe.
The bank also won the Best Social Impact Investor award in November last year at the Environment, Ethical, Social & Governance (ESG) Investment Awards, thanks to the launch of bonds for charities and social businesses.
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