Growing trend for ethical banking boosts Bristol-based Triodos

August 28, 2015
By

Lending by European ethical bank Triodos, which has its UK head office in Bristol, climbed by 9% to €791m (£579m) in the first six months of this year as the appetite for sustainable banking continues to grow.

The Dutch-owned group also achieved a 4% increase in UK customer numbers – taking its total to nearly 48,000.

Its balance sheet rose by 12% to €1.4bn – however, 10% was due to fluctuations in currency exchange rates.

Triodos Bank UK said it expected to continue its growth in the second half of this year, in line with what it called its mission to create lasting sustainable benefits for people, the environment and culture.

To support this growth, it said it would continue to focus on its core areas of lending while researching new areas of need that were becoming apparent.

Managing director Charles Middleton said: “We see continued appetite for sustainable banking and people looking to use their money to support organisations that have a positive impact on society and the environment.

“We believe that our values-based banking model and our transparency about what we do and what we stand for provides a way for people to make money a force for good at a time when the finance sector as a whole is still struggling to address some fundamental shortcomings.”

Triodos Bank’s group balance sheet rose by 8% to €7.7bn. Growth during the same period last year was 6%.

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