TlB Annual Report 2009 - Triodos Bank

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Consolidated cashflow statement for 2009 in thousands of EUR 2009 2008 Cashflow from operating activities Net profit Adjustments for: 9,502 10,140 depreciation, adjusted for depreciation charged on to related parties 5,163 3,618 value adjustments to receivables 4,980 3,208 value adjustments to participating interests 468 977 exchange rate differences on property and equipment -10 437 movements in provisions 611 227 other movements in accrued and deferred items 2,230 2,525 Cashflow from business operations 22,944 21,132 Movement in banks, deposits not on demand 223,567 -125,551 Movement in loans -395,794 -254,683 Movement in banks, liabilities not on demand -909 2,882 Movement in funds entrusted 507,938 459,857 Other movements from operating activities -301 -1,734 Cashflow from operating activities 357,445 101,903 Cashflow from investment activities Net investments in: interest-bearing securities -241,804 22,529 participating interests — -2,901 intangible fixed assets -3,785 -2,893 property and equipment -4,215 -9,075 Cashflow from investment activities -249,804 7,660 Cashflow from financing activities Increase in equity 101,390 — Payment of cash dividend -2,036 -2,163 Purchases of depository receipts for own shares 1,251 -998 Cashflow from financing activities 100,605 -3,161 Net cashflow 208,246 106,402 Cash and cash equivalents at beginning of the year 150,003 43,601 Cash and cash equivalents at the end of the year 358,249 150,003 On demand deposits with central banks 49,073 40,074 On demand deposits with banks 309,176 109,929 Cash and cash equivalents at the end of the year 358,249 150,003 88 TRIODOS BANK - ANNUAL REPORT 2009
Notes to the consolidated financial statements in thousands of EUR GENERAL The Annual Accounts were prepared in accordance with the legal requirements for the Annual Accounts of banks contained in Section 14 Title 9 Book 2 of The Netherlands Civil Code. The Annual Accounts relate to the twenty-ninth financial year of Triodos Bank NV. CONSOLIDATION PRINCIPLES The financial data for Triodos Bank NV and group companies have been fully consolidated. The financial data for joint ventures have been consolidated pro rata to the participating interest held, if consolidation is necessary in order to provide a transparent overview of the assets and result of Triodos Bank NV. In accordance with Section 2:402 of The Netherlands Civil Code, the company profit and loss account just contains a breakdown of the net result into the Result on participating interests and the Other result. Statement of equity participations in accordance with Sections 2:379 and 2:414 of The Netherlands Civil Code: Kantoor Buitenzorg BV in Zeist, participating interest 100%, group company, fully consolidated; Kantoor Nieuweroord BV in Zeist, participating interest 100%, group company, fully consolidated; Stichting Triodos Beleggersgiro in Zeist, participating interest 100%, group company, fully consolidated; Triodos Assurantiën BV in Zeist, participating interest 100%, group company, fully consolidated; Triodos Cultuurbank BV in Zeist, participating interest 100%, group company, fully consolidated; Triodos Custody BV in Zeist, participating interest 100%, group company, fully consolidated; Triodos Finanz GmbH in Frankfurt am Main, participating interest 100%, group company, fully consolidated; Triodos Investment Management BV in Zeist, participating interest 100%, group company, fully consolidated; Triodos MeesPierson Sustainable Investment Management BV in Zeist, participating interest 50%, joint venture with joint control, consolidated pro rata to the participating interest held. ACCOUNTING PRINCIPLES GENERAL Unless stated otherwise, assets are stated at cost, whereby in the case of receivables a provision for doubtful debt is recognised. TRANSACTIONS IN FOREIGN CURRENCIES Assets and liabilities related to transactions denominated in foreign currencies are converted at the spot rate on the balance sheet date. Transactions and the resulting income and charges in foreign currencies are converted at the rate applicable on the transaction date. The resulting exchange rate differences are accounted for in the profit and loss account under ‘Result on financial transactions’. BUSINESS OPERATIONS ABROAD Assets and liabilities relating to activities in business units abroad located outside the Eurozone are converted at the spot rate as at balance sheet date. Income and expenses for activities in foreign business units outside the Eurozone will be converted at the exchange rate as at transaction date. Any exchange rate differences arising from this will be charged or credited directly to the equity. BANKS AND LOANS Receivables on banks and the loans are valued at amortised cost, after deduction of a provision for doubtful debts. The value adjustment for doubtful debts is determined per item, with the value of the collateral provided being taken into account. TRIODOS BANK - ANNUAL REPORT 2009 89
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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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Key figures Belgium amounts in thou
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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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Page 43 and 44: Triodos Bank Private Banking Privat
Page 45 and 46: Key figures Triodos Bank Private Ba
Page 47 and 48: Triodos Investment Management Triod
Page 49 and 50: in developing countries. The fund d
Page 51 and 52: TRIODOS SICAV II-TRIODOS MICROFINAN
Page 53 and 54: TRIODOS MEERWAARDE AANDELENFONDS (T
Page 55 and 56: Key figures Triodos Investment Mana
Page 57 and 58: Risk Management and Compliance Trio
Page 59 and 60: Lending decisions are made by local
Page 61 and 62: alance sheet and profit and loss ar
Page 63 and 64: isk appetite is economic capital. T
Page 65 and 66: Corporate Governance Triodos Bank i
Page 67 and 68: Statement of institutions with a pa
Page 69 and 70: Stakeholder dialogue Triodos Bank m
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Page 74 and 75: Young co-workers in particular were
Page 76 and 77: salaries. No bonuses were distribut
Page 79 and 80: ▼ Environmental report This repor
Page 81 and 82: WASTE As a result of the ems evalua
Page 83 and 84: BASIS OF NOTES AND ENVIRONMENTAL KE
Page 85: Environmental key figures absolute
Page 88 and 89: Consolidated balance sheet as at 31
Page 90 and 91: Consolidated statement of changes i
Page 94 and 95: GOVERNMENT PAPER AND INTEREST-BEARI
Page 96 and 97: TAXATION ON OPERATING RESULT Taxes
Page 98 and 99: The balance sheet value of the bank
Page 100 and 101: Part of the value of securities is
Page 102 and 103: The movement in goodwill paid is as
Page 104 and 105: The movement in equipment is as fol
Page 106 and 107: The movement of the provisions is a
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
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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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