TlB Annual Report 2009 - Triodos Bank

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Kwekerij de Hessenhof is one of very few organic plant nurseries. Owner Hans Kramer (pictured) borrowed from Triodos Bank to develop his unique enterprise. The nursery offers a large variety of perennials, ferns, ornamental grasses, herbs and shrubs. The plants thrive in a rich potting soil which includes root moulds and organic fertilizers.
Triodos Bank The Netherlands 2009 was a turbulent year for the Dutch financial industry. One bank went into insolvency and a number of other banks and insurers had to apply for government guarantees to access funding. Most banks experienced funding diffi culties and competition for personal deposits prompted escalating savings interest rates. As much of the banking industry suffered, Triodos Bank benefited from its strong reputation. People increasingly recognise the importance of the values at the heart of the organisation, leading to unprecedented growth in 2009. Thanks to investments in efficiency over the past two years we have been able to welcome record numbers of new customers. Triodos Bank was also the first to introduce a website with an interactive map where anyone can find out where and how savers’ money is invested. ACHIEVEMENT OF GOALS FOR 2009 While we expected to increase the number of private customers by some 20,000 in 2009, we actually brought in 33,000 new customers, an increase of 32%. The proportion of new business customers grew even faster, by 3,100 (45%) to almost 10,000. It is particularly interesting to see how sustainability appeals to a growing number of young entrepreneurs. The balance sheet before the elimination of transactions between Triodos companies grew by eur 266 million (24%) to eur 1,362 million (2008: 29%). The loan book grew by eur 62 million to eur 588 million, an increase of 12% (2008: 21%). Entrusted funds growth was almost double what we expected, increasing by eur 250 million to eur 1,232 million (26%), against anticipated growth of eur 150 million. The autumn issue of depository receipts was also very successful. Dutch depository receipt holders, 1,678 of whom were new, increased their total investment by eur 35 million. LENDING The loan portfolio grew by eur 62 million (12%) to eur 588 million, against an expected figure of eur 100 million. The transfer of eur 17 million of loans to Triodos Groenfonds and Triodos Cultuurfonds, as well as the transfer of existing German loans to the new German branch, reduced this growth. The Culture and Arts and Environmental Technology sectors grew most, with the Social Economy sector also performing strongly. Starting a special team to deal with smaller loan applications has been postponed to 2010. Private mortgage lending increased by eur 15 million (66%) to eur 37 million. Due to the effects of the economic slowdown, provisions for loan losses were higher than in previous years, at 0.45% of the average size of the loan book. However our provisions were among the lowest, compared to other banks in The Netherlands. Matthijs Bierman: ‘It’s really encouraging to see how sustainability is increasingly common in the business principles of young entrepreneurs.’ SAVINGS Thanks to many people switching banks, and existing customers increasing their deposits with Triodos Bank, total funds entrusted grew by eur 250 million (26%) to eur 1,232 million in 2009. Many depositors also chose to switch from fixed term deposits to instant access (internet) savings accounts. Total personal savings and fixed term deposits grew by eur 160 million and total business savings and fixed term deposits increased by eur 20 million. INVESTMENTS At the end of 2009, Triodos Bank customers in The Netherlands had invested a total of eur 614 million in Triodos investment funds (2008: eur 535 million), an increase of 15%. Investments picked up again, particularly in the last quarter of the year. Triodos Groenfonds, Triodos Fair Share Fund and Triodos Cultuurfonds - all of which benefit from favourable tax breaks - grew very satisfactorily. TRIODOS BANK - ANNUAL REPORT 2009 19
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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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The movement in equipment is as fol
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The movement of the provisions is a
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Fair values The following table set
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INCOME 20. INTEREST INCOME 2009 200
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EXPENSES 26. CO-WORKER AND OTHER AD
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The salary expenses and reimburseme
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27. DEPRECIATION, AMORTISATION AND
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Segment reporting KEY FIGURES 2009
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KEY FIGURES 2008 BY BRANCH AND BUSI
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LENDING BY SECTOR IN 2009 in thousa
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LENDING BY SECTOR IN 2008 in thousa
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Solvency in thousands of EUR The so
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Risk management in thousands of EUR
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Corporates: 100%; Retail exposures:
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Risk-weighted value per country The
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The following table sets out the ac
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Notes: Interest bearing securities
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Solutions for Biotectura is an inno
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Company balance sheet as at 31 Dece
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Company statement of changes in the
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Notes to the company’s financial
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The movement in goodwill paid is as
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36. PROVISIONS 2009 2008 Pension pr
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Auditor’s fees The table below sp
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TO THE ANNUAL GENERAL MEETING OF DE
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Two years ago, Vincent Remy receive
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helping to make sure that we combin
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Board of SAAT MR. J.C. VAN APELDOOR
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MR. J. LAMERS (1948) Jan Lamers is
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Alara in Camden, London, makes cere
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GRI Content Index Triodos Bank prep
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SOCIAL PERFORMANCE INDICATORS: SOCI
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Production Triodos Bank NV 2009 Ann
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