TlB Annual Report 2009 - Triodos Bank

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time many individuals and institutions chose to use their savings to reduce borrowing where they could. Against a backdrop of such challenging market conditions, and in common with other uk financial institutions who also rely on retail deposits, it was still disappointing that our total deposits grew marginally by gbp 1 million, against a target of gbp 40 million. The increase in overall customer numbers was also severely affected by these conditions. It was, however, encouraging to see continuing growth in our online savings offerings. We also launched a new range of fixed-term accounts, the Climate Change Bonds, to coincide with the United Nations Climate Change Conference in Copenhagen. The bonds, which allow individuals to use their savings to finance environmental projects, attracted a number of new customers to the bank at the end of the year. INVESTMENTS During 2009, our uk customers had invested gbp 48 million in Triodos investment funds, compared to gbp 43 million at the end of 2008. Despite a challenging financial climate, investors continued to be attracted to funds making an active contribution to a more sustainable society. Hundreds of uk investors also chose to take a stake in Triodos Bank itself during an international capital raising issue. OTHER ACTIVITIES Throughout the year we continued to enjoy growing mainstream interest in our work. For instance Triodos was voted Sustainable Bank of the Year at the Financial Times Sustainable Banking Awards, at a special event in London in June. To reach larger numbers of people in person, we held a number of events around the country, including road shows in Edinburgh and Leeds. We also gave prospective and existing customers the chance to visit business banking clients in London and Reading, and organised a special event for financial advisors in Bristol, to mark the second National Ethical Investment Week. We launched Know Where Your Money Goes, which allows savers to visit our website and pin-point our borrowing customers across the uk and Ireland. The new tool is another engaging example of transparency in banking, and strengthens the connection between our savers and borrowers. As well as the fourth Women in Ethical Business Awards, run in association with The Times newspaper, we ran a successful social enterprise photography competition for the second year in succession. Social Vision captured inspiring pictures of British social enterprise and culminated in a celebratory event and exhibition, as well as a 2010 calendar. PROSPECTS FOR 2010 We plan to increase our lending by gbp 77 million and our savings by gbp 20 million in 2010. To take advantage of strong lending opportunities in the uk, we plan to use funding from other parts of the Triodos Group for a temporary period. As part of our efforts to grow the customer base significantly, we will continue to extend our online offering and broaden the overall proposition for personal banking customers, and develop our business banking products, by introducing a Triodos Bank debit card. At the same time we will continue to manage our costs to ensure that further growth continues even within the constraints of the current economic environment. More than ever there is an opportunity to embrace real change in the banking industry. We will continue to combine healthy growth of the branch with proactive debate about the future of the uk financial sector and the role that banks like Triodos can play in developing a truly sustainable future. Bristol, 24 February 2010 Charles Middleton, Managing Director For more information: www.triodos.co.uk www.triodos.co.uk/knowwhereyourmoneygoes 28 TRIODOS BANK - ANNUAL REPORT 2009
Key figures United Kingdom amounts in thousands of EUR 2009 2008 Funds entrusted 386,484 359,021 Number of accounts 29,683 28,619 Loans 277,890 216,855 Number 879 733 Balance sheet total* 450,972 405,380 Total income 10,505 15,271 Operating expenses -8,519 -9,774 Value adjustments to receivables -626 -326 Operating result before taxation 1,360 5,171 Taxation on operating result -386 -1,489 Net profit 974 3,682 Number of co-workers at year-end** 78 88 * The amounts are shown before intercompany eliminations. The comparable figure for 2008 has been adjusted. ** In 2009 11 co-workers, who work for Investment Management, are presented under Triodos Investment Management. TRIODOS BANK - ANNUAL REPORT 2009 29
Page 1 and 2: TlB Annual Report 2009
Page 3 and 4: Key figures in pounds amounts in mi
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Page 8 and 9: Triodos Group Structure at 1 Januar
Page 11 and 12: ▼ Supervisory Board Annual Report
Page 13 and 14: Executive Board Annual Report The y
Page 15 and 16: other inspiring values-driven banks
Page 17 and 18: Statement of funds entrusted per br
Page 19 and 20: sustainability levels of the variou
Page 21 and 22: depository receipt was eur 71, incr
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Page 39 and 40: Triodos Bank Germany On 1 December
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Page 43 and 44: Triodos Bank Private Banking Privat
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Page 47 and 48: Triodos Investment Management Triod
Page 49 and 50: in developing countries. The fund d
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Page 55 and 56: Key figures Triodos Investment Mana
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Page 65 and 66: Corporate Governance Triodos Bank i
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Page 74 and 75: Young co-workers in particular were
Page 76 and 77: salaries. No bonuses were distribut
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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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