TlB Annual Report 2009 - Triodos Bank

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The Terre group is an alliance of seven recycling companies. Together they collect 20 tonnes of textiles and 100 tonnes of paper in Wallonia and Brussels, every day. The main focus of the organisation is to create sustainable employment, and more than half of the 280 employees come from disadvantaged backgrounds. Triodos Bank is financing the refurbishment of their office space.
Triodos Bank Belgium The Belgian banking market was dominated by the omnipresent financial crisis during 2009. The credit crunch that came with it meant many banks were less willing to lend, resulting in increased interest margins on loans. At the same time interest rates on savings reached a historical low as a result of the European Central Bank’s monetary policy. Nevertheless Belgians poured money into saving accounts seeking security and waiting for better investment opportunities in the future. This led to an overall increase in savings volumes in the Belgian market of 30%. While many banks struggled, Triodos Bank Belgium grew rapidly in these conditions exceeding targets in loans and savings volumes and number of new clients - and connecting more savers with more sustainable projects than ever before. The crisis created an opportunity to communicate the benefits of Triodos Bank’s sustainable and transparent banking model; communication which lead to a nomination for the Corporate Communication Award of the year. This helped to build the bank’s profile across the country. A survey conducted at the end 2009 showed that recognition of Triodos as a sustainable bank has doubled in two years (‘top of mind’ awareness growing from 3% in 2007 to 8% in 2009). More and different types of business also increasingly recognise Triodos Bank as a professional and credible financial partner. Examples include: a Belgian public authority investing in Triodos Bank’s capital for the first time creating an important precedent for others to follow; a Triodos Bank-managed private share issue on behalf of a sustainable company expanding in to continental Europe, again for the first time; a collaboration with two regional financial vehicles to co-finance developments in the social economy; a real estate finance collaboration with major players in housing for the elderly; and a co-financing agreement for a wind farm in France, creating an opportunity for many more of these types of agreements in this market. In the second half of the year high-street banks launched massive communication campaigns and targeted products such as green loans, and socially responsible bank notes. While the authenticity of these developments is often dubious, their efforts to tap in to the sustain able banking market says a great deal about the profile this approach to banking now enjoys. ACHIEVEMENT OF GOALS FOR 2009 The balance sheet total of the Belgian branch before the elimination of transactions between Triodos companies increased by eur 160 million (26%) to eur 780 million. Lending increased by eur 99 million to eur 358 million, well above a target of eur 56 million. Entrusted funds grew more strongly than expected, by eur 137 million to eur 709 million. 6,900 new customers joined the Bank, compared to a target of 5,000. Interest margin, the main source of income for the branch, is traditionally very low in the Belgian market. Thanks to higher interest income on loans and a lower interest income on savings, the Belgian branch increased its overall average interest margin slightly compared to last year. LENDING The loan portfolio grew by eur 99 million (38%) to eur 358 million, considerably exceeding expected growth of eur 56 million. There was a 40% increase in finance for sustainable energy projects and a 36% increase in lending to small and medium-sized businesses. In the renewable energy sector, the growth was again most marked in wind energy (38%). The year’s highlights included financing the St-Patrick 35 mw wind farm in the North of France. Triodos Bank provided half of the eur 45 million leading debt, representing the largest ever deal financed by Triodos Bank Belgium. The branch also financed several solar projects, such as Greenfever, the biggest solar project in the Benelux. The bank’s position as a lender to small and medium-sized enterprises was also strengthened in 2009. Important contracts were signed in sustainable construction and nursing homes for the elderly. An active approach to the social economy led to increased lending and cooperative deals with Netwerk Rentevrij and Credal, TRIODOS BANK - ANNUAL REPORT 2009 23
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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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TlB Annual Report 2009 - Triodos Bank

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