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Strategic Objectives

USD 100 billion

The GABV's combined
member's total balance
sheet assets amounted
to USD 100 billion by
the end of 2015.

The table that follows provides the key strategic objectives for Triodos Bank for 2015 and our progress against them. We have divided this section between an update on strategic objectives to date, plus a separate section describing the key new objectives of the three year plan from 2016-2018.

This reflects three year plans that have been written as a result of the strategic goals that were developed following the 10 year strategic perspective work described above.

This information is designed to reflect some of the key issues raised in the materiality analysis that are priorities for Triodos Bank and our stakeholders.

Triodos Bank

Our key strategic objectives

How we did in 2015

To continue to ensure that what we do reflects who we are; integrating our mission and strategy.

Strategy plans for the three key business pillars designed and implemented to clearly represent how we will meet our mission.

Finalised Triodos 2025, our long-term strategic perspective, used as the context for our strategy development process for the 2016-2018 business plan. We will publish the findings of this 10 year perspective work externally in 2016.

To be recognised by key influencers as a reference point for values-based banking, contributing to the development of a more diversified, transparent and sustainable banking sector.

Continued to play a strong role (as Chair) in the GABV and a pro-active role in the Sustainable Finance Lab and other key bodies.

Continued to be Member of the Board of the NVB (the Dutch Banking Association).

Co-chaired the European Task Force on Banking and Member of the UNEP FI Steering Committee, and launched major report to promote positive impact within the financial sector at Paris COP21 conference.

New membership of the B Corporation – providing certification for companies aimed at benefiting society and not just shareholders, hosting the organisation’s European launch.

Engaging with clients and stakeholders.

Stakeholder engagement process internationalised via a survey delivered in all countries, and qualitative interviews and a stakeholder event in Belgium and The Netherlands respectively.

Client and depository receipt holder meetings delivered in all countries, with more consistent approach across all branches.

Depository receipt holder survey undertaken and results published, with 4,500 participants (out of 32,500).

Theme day on sustainable real estate hosted with co-workers, management, Supervisory Board, Board of SAAT and external parties.

To grow our impact by maintaining a clear focus on financing sustainable business.

Loans to deposits ratio (when calculated to only include our impact lending) decreased from 63% in 2014 to 62% in 2015.

Diversified our loan portfolio including the development of new subsectors, for example providing finance for our first power storage project on Corsica.

We launched the Multi Impact Fund, making impact investing more accessible to retail investors (NL) and continued our efforts to broaden participation in Impact Investing for retail audiences across Europe by responding to the EU consultation on Capital Markets Union.

Continued to only finance loans with customer’s savings, and not through money market facilities from other banks.

To become the ‘bank of preference’ for our customers.

In order to become the first bank for our customers, the development of the current account in the UK market for launch in 2016 is under way. The full account launch date is now likely to be in early 2017.

To strengthen and continue to develop a Pan-European base.

In Spain the development of a new ICT platform was underway with final implementation carried forward to 2016.

The creation of a full branch in France continues to be investigated.

A Vision Renewal Programme was developed to support the Theme Day on Sustainable Real Estate to strengthen this area across all branches in 2015; similar development programmes are planned for 2016-2018.

New, public-facing office opened in Gent, Belgium.

German profitability improved however the German branch has still not reached break-even point.

Group-wide Internal Governance changes developed in 2014 were fully implemented in 2015.

Central Directors of Business Banking, Marketing, Retail Banking and Operations appointed to strengthen Pan-European approach.

Two new commercial offices opened in Spain, against plans of four to six.

To focus on long-term resilience over short-term profit, and offer a fair return on equity.

Delivered a return on equity (RoE) of 5.5%. Triodos Bank maintains a relatively high equity base and has a substantial liquidity surplus which results in a lower RoE.

Leverage ratio of 8.4% delivered, compared to a minimum of 3% required in Europe.

To deliver a stable balance sheet, by increasing the diversity in our loan portfolio.

Sustainable mortgage lending was responsible for 40% of the total increase of the sustainable loans portfolio in 2015 (2014: 18%). In 2015 this meant an increase from EUR 404m to EUR 616m.

To encourage co-workers to actively engage in a learning organisation.

Cross-bank collaboration and engagement platform developed during the year but carried forward for roll-out in 2017.

Cross-bank theme day on sustainable property delivered, sharing knowledge from mature branches with newer ones.

Values and Essence study group meetings were piloted for new co-workers.

Average training days per co-worker increased from 4.3 to 4.6 in 2015.

A more international head office delivered with the appointment of multiple international appointments at different levels in the organisation, as well as long-term secondments from head office to the branches.

Values seminars delivered three times in 2015 for co-workers with 1-3 years service.

Multiple learning opportunities, including a Leadership Conference (NL) and co-worker conference (UK) delivered during the year.

Triodos Investment Management

Our key strategic objectives

How we did in 2015

Triodos Investment Management will deepen and extend its impact, further building on its position as the experienced and professional impact investment partner of preference.

Total Assets under Management amounted to EUR 3.14 billion from solid inflows in most funds.

See details of Triodos Investment Management’s impact.

Triodos Investment Management will continue to develop new impact investment solutions.

On 1 December 2015 Triodos Investment Management launched Triodos Multi Impact Fund, a fund-of-impact-funds for private investors in The Netherlands.

Despite challenging developments on the stock markets, the Triodos SRI funds were able to grow significantly and the development of the methodologies of these funds has progressed further during 2015.

Triodos Bank Private Banking

Our key strategic objectives

How we did in 2015

Develop Private Banking through meaningful dialogue, as an important addition to Triodos Bank’s retail offering to meet the demand for an holistic approach that combines financial advice, financial returns and personal values.

Investable assets for this client group grew in line with total growth of Triodos Bank Private Banking in 2015.

We organised an interactive meeting with our private customers to discuss the future of our food production, attended by more than 100 clients.

As described above, Triodos Bank has developed a forward looking plan and strategic objectives for the next three years, built on a ten year perspective developed during 2014 and 2015 and designed to continue to enable it to deliver its mission in the future. Key elements of this plan follow below. We plan to report on our progress against these objectives from next year onwards:

Strategic Objectives within the
2016-2018 Business Plan

Goals for 2016-2018

Finance for Impact

We want to have delivered more finance – by way of loans, investments and gift money – to achieve a positive Impact:

  • Diversify our loan sectors to extend impact and spread risk
  • Clearly communicate our vision on how we help sectors make step changes in their sustainability and our objectives, and progress to deliver positive impact
  • Grow our investment funds significantly
  • Significantly increase our capacity to support innovative initiatives with gift money.

Focus on loan growth – with a target of 15 to 20% net growth in lending.

Develop new sectors and sub-sectors in order to diversify our portfolio and remain relevant to the needs of society.

Deliver initiatives including Sustainable Funding and Service Network to help provide alternative financial solutions for clients and Heart-Head impulse sessions (NL) to create learning communities for entrepreneurs.

Communicate our vision for the development of specific sectors, providing a framework for the contribution to impact we are seeking to make.

Triodos Investment Management aims to grow its assets under management to EUR 3.6 billion in 2016. It aims to build a more balanced portfolio of impact investment funds realising impact in key areas related to the UN Sustainable Development Goals, with a focus on human dignity and development and responsibility and care for the earth.

Private Banking will investigate connecting individual Private Banking clients with social entrepreneurs in need of finance.

Private Banking will also evaluate investment services with the aim of offering clients an online investment guiding application. The application should combine an easy to use portfolio management tool with relevant information on the impact of Triodos funds on sustainable development. Introduction is planned for 2017.

Expand Triodos Foundation activity in several countries through crowd funding and other activities related to Gift Money.

Broaden our Scope

We want to broaden the scope of our products and service offering: complementing our existing services so that we can respond flexibly to a wide spectrum of customer needs within a relationship-based approach.

In the UK a personal current account will be further developed for launch in 2017, together with developments in the product range of other branches.

A decision about whether to open a full branch in France will be taken in 2016.

Four new commercial offices to be opened in Spain.

Theme days to continue in 2016 to cover our services to entrepreneurs beyond property-secured lending.

Triodos Investment Management aims to expand its international distribution network and have a resilient and diversified investor base. It aims to expand within existing funds and create new values-based investment solutions.

Triodos Investment Management will proceed with further exploring the development of its SRI funds. And by 2018, it aims to offer an impact investment portfolio with all asset classes being represented via both direct and publicly traded investments.

Expand Triodos Foundation activity in several countries through crowd funding and other activities related to Gift Money.

Deepening our Relationship Approach

We want to have transitioned to a point where what we offer is driven more by our customers’ needs rather than our products.

We want to build interconnected stakeholder communities where we make connections and are the catalyst for productive discussions between our customers.

Deliver broader client relationship initiatives, to help provide alternative financial solutions for clients and create learning communities for entrepreneurs.

Enhance our client and stakeholder relationships with a full review of Triodos Bank's online presence, and development of a marketing intelligence project in order to deepen our understanding of our clients and their needs.

Extend stakeholder engagement process, deliver combined client and depository receipt holder meetings and Group-wide survey.

Innovating: new ventures and partnerships

We want Innovation to become core to the business within each business unit, with a clear innovation process in place and secure allocation of resources.

New ventures should be launched within identified “innovation focus areas”.

Develop new initiatives which go beyond the bank with a focus on innovating new ventures and partnerships, co-developed with clients and stakeholders. Such ventures to form part of a balanced portfolio as part of the bank’s future business model.

Resilient and effective business operations

In 2018 we want to have further strengthened the resilience and effectiveness of our (business) operations in order to meet the expectations of customers and society and in order to be demonstrably in control at acceptable cost levels.

Internal processes within business units and internal functions will be reviewed to optimise efficient work practices.

We will develop our online presence and align our processes to customer needs to make things as smooth as possible for customers – to meet rapidly evolving customer experience expectations.

Becoming a Learning Organisation

By 2018 we want the mission and essence of Triodos Bank to be better understood, and engaged with, across the co-worker community.

We want co-workers to benefit from an open, collaborative culture “inside and out” with a flexible organisational structure that enables learning, exchange and the development of talent.

Implement a new internal online platform across the bank to improve collaboration on joint topics.

Stimulate and support exchanges between departments and international offices, and with member banks of the GABV, creating a more dynamic working environment, by improving the practical arrangements around these efforts.

Extend the Triodos Academy covering all aspects of management development across the Group and the Values Education Programme to support the embedding of values and our essence in our daily work.

Improve our approach to talent development, identifying and supporting co-workers throughout the organisation.

Initiating dialogue with society on positive change

We want to create conversations, at multiple levels, about the role of money and finance in creating a positive impact in the world. And we want to share our vision of how people can make a difference through the conscious use of money.

Continue key, established partnerships and deepen and extend the impact of Corporate Partnerships, including links with academic institutions and become more active in targeted European bodies to further the sustainable finance agenda.

Learn from and collaborate with external stakeholders in new development and innovation programmes.

Balanced Portfolio of Impact-Risk-Return

We want to see each Business Unit managing a balanced portfolio of activities, managing our Impact-Risk-Return profile so that we extend our impact within an acceptable risk/return framework.

We want to maintain the stability of the Group’s RoE.

Improve loans to deposit ratio to between 65 and 70%.

Develop a system to categorise impacts in a consistent way across the group. We will build on our existing impact reporting to drive positive impact through our management processes.