Prospects for 2011
Triodos Bank (Group)
Excluding unforeseen circumstances, Triodos Bank expects to achieve a positive result for 2011. At the same time we recognise that the economic downturn that has resulted from the financial crisis will continue in 2011 and presents continuing challenges for sustainable entrepreneurs and businesses active in the real economy.
European branch network
Triodos Bank’s balance sheet total is expected to continue to grow by between 15 and 20%.
All branches will broaden their customer base. The number of customers is expected to grow by between 15 and 20% across the Group.
The loan portfolio and the funds entrusted are expected to increase by between 20 and 25%. Triodos Bank has a healthy growth ambition but does not want to realise it at all costs. The loans granted in 2011 will reflect our efforts to finance front-runners in their fields; the entrepreneurs developing the sustainable industries of the future. We expect the levels of provisions for loans to return to their long-term average.
Triodos Investment Management
Triodos Investment Management is well positioned for further growth, with increasing demand from investors in impact investment. Investor interest is in both existing funds as well as new ones in various areas such as energy efficiency, renewable energy, arts and culture and sustainable food and agriculture. Growth prospects in funds with fiscal benefits in The Netherlands have become more uncertain, in the light of government decisions to change the financial benefits associated with them. In total however, we foresee a growth in funds under management of between 10 and 20% for 2011.
We expect interest in our private banking offering in The Netherlands and Belgium to continue to be high and anticipate growth of between 20 and 25%.
In 2011, Triodos Bank will actively contribute to a more sustainable future, by responding to the social, environmental and cultural challenges we face over the short, medium and long-term. In particular we expect to grow our financing of renewable energy projects and other innovations worldwide that effectively reduce our dependence on fossil fuels. Our environmental activity is, however, only one part of our growing impact. We will communicate the results of our work even more clearly and more often. We will do this by playing an active role in the public debate but also as a creative practitioner; a change agent financing meaningful projects on the ground.
Zeist, 24 February 2011
* Statutory Director under the articles of association