TlB Annual Report 2009 - Triodos Bank

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Henderson’s is Edinburgh’s vegetarian, vegan and organic café. Set up in 1962, it has developed a basement restaurant, acquired a bistro, built a bakery, a deli, an art gallery, and is a venue for the city’s famous Festival Fringe. Co-owners Peter (left) and Oliver Henderson became Triodos Bank customers because of the business and the bank’s shared values and approach.
Triodos Bank United Kingdom The financial crisis continued to dominate everyone’s attention in 2009. Its impact was felt across society with few individuals and organisations unaffected by the broad-based economic decline. A number of high profile businesses failed, the housing market remained stagnant and unemployment rates increased to their highest levels in more than a decade. Massive Government intervention was needed during the uk’s deepest recession since the 1940s, including large injections of public money to support financial institutions. Efforts to stimulate the economy included cuts in the Bank of England base rate to 0.5%, the lowest level in its 315-year history, and up to gbp 200 billion of quantitative easing which increased the money supply in an attempt to reinvigorate growth. Confidence in the financial sector remained low. Chief Executives of some of the failed banks were targeted personally, and generous bank bonuses in particular were the subject of widespread public discontent. While there were some elements of change, concerns about the scale and permanency of reforms to the uk’s financial sector have grown, with many people disillusioned by an apparent return to business as usual. Against this background, Triodos Bank continued to deliver a better balance between people, planet and profit. Our sustainable approach to banking contrasted starkly with the beleaguered high-street banking sector - much of which is now, at least in part, nationalised - and lead to more attention from the media, individuals and the business community than ever before. As a result we continued to grow across all the areas we work in. However our interest margin and therefore the profitability of the uk branch, as well as our ability to attract large numbers of new savings customers, was significantly affected by the dramatic change in the uk interest rate environment. This margin compression has been felt across the whole market resulting in a large degree of consolidation amongst some of the smaller uk financial institutions who were most affected by it. ACHIEVEMENT OF GOALS 2009 During the year, the uk branch’s balance sheet before the elimination of transactions between Triodos companies achieved modest growth of gbp 15 million (4%) to gbp 401 million. Lending rose by gbp 40 million to gbp 247 million, meeting the target. This significant growth in lending of 19%, compared with marginal savings growth of 1%, and meant that new lending was funded out of existing liquidity. LENDING The loan portfolio grew significantly by gbp 40 million (19%) to gbp 247 million during the year, exceeding an ambitious target. Growth in social housing lending was particularly marked on the back of an increasing profile in the sector. 2009 was also a record year for lending to renewable energy and organic farming projects. Our expanded environment Charles Middleton: ‘While the banking sector suffered a crisis of confidence during 2009, our model was singled out as offering hope for a genuinely sustainable financial future.’ lending team financed a number of high profile developments, including the first of two in-vessel composting projects to be financed by the uk branch. This is important because the pioneering technology helps to address the problem of food waste disposal, which we believe will become an increasingly significant problem. SAVINGS Competition across the uk savings market intensified during 2009, as a direct result of the credit crunch. Financial institutions, directed to reduce their dependency on the wholesale money markets by the regulator, competed aggressively for retail deposits. At the same TRIODOS BANK - ANNUAL REPORT 2009 27
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Page 49 and 50: in developing countries. The fund d
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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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