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Other developments

Continued profitability

After returning profits of EUR 0.7 million profit in 2011, and a dip in profitability to EUR 0.5 million in 2012, Triodos Private Banking’s profits recovered to EUR 0.7 million in 2013.

Profit growth was mainly due to a decrease of costs in operations. Significant investments in marketing and process management continued, prompted by a comprehensive customer satisfaction study in 2011. The study showed that more and more customers were interested in tailored and pro-active liaison to meet their product requirements and that efficiency could be improved.

The strategic objective described in the 2012 report to differentiate more between private individuals and social organisations – like religious institutions, foundations and charities – paid off during the year, yielding significant efficiencies and allowing specialized relationship managers to focus on the growing number of clients that commit substantial funds to Triodos Bank.

This effect was especially visible in the team that caters to private individuals who deposit at least EUR 500,000 with Triodos Bank. Assets under management and the number of customers served grew significantly.

The Belgian results of Private and Personal Banking is fully consolidated in the figures for the Belgian branch.