TlB Annual Report 2009 - Triodos Bank

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Two years ago, Vincent Remy received finance from Triodos Bank to take over and convert his parent’s farm to become organic. Since then, the bank has financed a new shed and livestock, expanding the business significantly. Today, the farm in the Bastogne region of the Belgian Ardennes has 150 cattle, covering an area of 45 hectares.
Report by the Board of SAAT THE STICHTING ADMINISTRATIEKANTOOR AANDELEN TRIODOS BANK (FOUNDATION FOR THE ADMINISTRATION OF TRIODOS BANK SHARES) The Foundation for the Administration of Triodos Bank Shares (saat) has all Triodos Bank nv’s shares under its management. It issues depository receipts to private individuals and institutions who want to participate in the Bank’s equity. The depository receipts for shares are registered and non-exchangeable. This structure was chosen to protect Triodos Bank’s identity and mission. Recent events in financial markets internationally have shown again how important this protective structure is. The credit crisis has demonstrated the value and prudence of Triodos’ sustainable approach to banking – lending only to ethical organisations working in the real economy. It presents an extra opportunity to strengthen awareness about Triodos Bank’s mission and objectives. Voting rights are exercised by the Board of saat at the Triodos Bank Annual General Meeting. The Board is guided by the ethical objectives of the Bank as contained in the Articles of Association and formulated in the mission statement. The Board is independent, but plays an important role in maintaining the integrity of the bank. To avoid conflicts of interest members of Triodos Bank’s Executive Board and Supervisory Board are not allowed to serve on the Board of saat. The directors are appointed by, and report to, the Annual General Meeting of Depository Receipt Holders. The Board met three times during 2009, and also took part in meetings with members of the Supervisory Board and Triodos senior management to discuss the Bank’s social role. During the meetings of the Board, the general state of affairs within Triodos Bank was discussed from the perspective of how the Bank implements its ethical mandate: encouraging real awareness of money matters as a means to achieve social renewal. Sustainable shareholder ship and the effect of the credit crisis on Triodos Bank, among other issues, were also discussed in the meetings. To gain insight into how the Bank handles such issues in practice, and to maintain and strengthen the connection to its mission, the Board of saat meets with Triodos Bank’s Executive Board and attends customer days and other public meetings. This was particularly important in a year when the bank undertook a significant, and very successful, depository receipt issue. During visits to the branches in Belgium and the uk members of the Board spoke with co-workers and clients to update their view of how Triodos Bank works in those countries. At least four other occasions offered opportunities to exchange views with Triodos Bank’s closest stakeholders, including clients, depository receipt holders, external relations and co-workers. The Board of saat also enjoyed numerous other informal opportunities to meet people involved in Triodos Bank; among them a depository receipt issue kick-off event in The Netherlands. 2009 has once again highlighted the importance of the constant support of depository receipt holders for the Bank and its further development. This will only be possible if depository receipt holders continue to feel involved in, and connected to, the Bank and its mission. The dialogue between Triodos Bank, its Supervisory Board, the Board of saat and the depository receipt holders continued during the year, enjoying considerable success and gathering momentum. As well as this direct interaction, media coverage and public discussions featuring Triodos Bank and its co-workers act as an important source of information for the Board. Members of the Board from Belgium, the uk and Spain are specifically asked to maintain close contact with the local branches and their clients and share their informed perspectives in the meetings of the full Board. The Board concludes that Triodos Bank succeeded in effectively carrying out its mission in 2009. Special thanks go to Triodos Bank’s co-workers in all departments, and at all levels. Further growth of the Bank in general, and growth of the issued capital in particular, will need an active dialogue between depository receipt holders and the bank. The Board will play an important role in these conversations, TRIODOS BANK - ANNUAL REPORT 2009 151
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TlB Annual Report 2009
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Key figures in pounds amounts in mi
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Triodos Bank nv ANNUAL REPORT 2009
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Triodos Group Structure at 1 Januar
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▼ Supervisory Board Annual Report
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Executive Board Annual Report The y
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other inspiring values-driven banks
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Statement of funds entrusted per br
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sustainability levels of the variou
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depository receipt was eur 71, incr
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Triodos Bank The Netherlands 2009 w
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Key figures The Netherlands amounts
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Triodos Bank Belgium The Belgian ba
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Triodos Bank United Kingdom The fin
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Key figures United Kingdom amounts
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Triodos Bank Spain The economic cri
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Key figures Spain amounts in thousa
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Triodos Bank Germany On 1 December
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TRIODOS BANK - ANNUAL REPORT 2009 3
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Triodos Bank Private Banking Privat
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Key figures Triodos Bank Private Ba
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Triodos Investment Management Triod
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in developing countries. The fund d
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TRIODOS SICAV II-TRIODOS MICROFINAN
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TRIODOS MEERWAARDE AANDELENFONDS (T
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Key figures Triodos Investment Mana
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Risk Management and Compliance Trio
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Lending decisions are made by local
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alance sheet and profit and loss ar
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isk appetite is economic capital. T
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Corporate Governance Triodos Bank i
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Statement of institutions with a pa
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Stakeholder dialogue Triodos Bank m
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TRIODOS BANK - ANNUAL REPORT 2009 6
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Young co-workers in particular were
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salaries. No bonuses were distribut
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▼ Environmental report This repor
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WASTE As a result of the ems evalua
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BASIS OF NOTES AND ENVIRONMENTAL KE
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Environmental key figures absolute
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Consolidated balance sheet as at 31
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Consolidated statement of changes i
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Consolidated cashflow statement for
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GOVERNMENT PAPER AND INTEREST-BEARI
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TAXATION ON OPERATING RESULT Taxes
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The balance sheet value of the bank
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Part of the value of securities is
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The movement in goodwill paid is as
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Page 108 and 109: Fair values The following table set
Page 110 and 111: INCOME 20. INTEREST INCOME 2009 200
Page 112 and 113: EXPENSES 26. CO-WORKER AND OTHER AD
Page 114 and 115: The salary expenses and reimburseme
Page 116 and 117: 27. DEPRECIATION, AMORTISATION AND
Page 118 and 119: Segment reporting KEY FIGURES 2009
Page 120 and 121: KEY FIGURES 2008 BY BRANCH AND BUSI
Page 122 and 123: LENDING BY SECTOR IN 2009 in thousa
Page 124 and 125: LENDING BY SECTOR IN 2008 in thousa
Page 126 and 127: Solvency in thousands of EUR The so
Page 128 and 129: Risk management in thousands of EUR
Page 130 and 131: Corporates: 100%; Retail exposures:
Page 132 and 133: Risk-weighted value per country The
Page 134 and 135: The following table sets out the ac
Page 136 and 137: Notes: Interest bearing securities
Page 138 and 139: Solutions for Biotectura is an inno
Page 140 and 141: Company balance sheet as at 31 Dece
Page 142 and 143: Company statement of changes in the
Page 144 and 145: Notes to the company’s financial
Page 146 and 147: The movement in goodwill paid is as
Page 148 and 149: 36. PROVISIONS 2009 2008 Pension pr
Page 150 and 151: Auditor’s fees The table below sp
Page 152 and 153: TO THE ANNUAL GENERAL MEETING OF DE
Page 156 and 157: helping to make sure that we combin
Page 158 and 159: Board of SAAT MR. J.C. VAN APELDOOR
Page 160 and 161: MR. J. LAMERS (1948) Jan Lamers is
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Page 164 and 165: GRI Content Index Triodos Bank prep
Page 166 and 167: SOCIAL PERFORMANCE INDICATORS: SOCI
Page 168 and 169: Production Triodos Bank NV 2009 Ann
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TlB Annual Report 2009 - Triodos Bank

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