Triodos profit increases 46%

TRIODOS, the ethical bank that supports the Fairtrade and social sectors, has reported a profit increase of 46 per cent to &#163 3.6 million – the best results...

TRIODOS, the ethical bank that supports the Fairtrade and social sectors, has reported a profit increase of 46 per cent to &#163 3.6 million – the best results in its 25-year history.
The bank also posted a growth in returns of 41 per cent for shareholders and a 25 per cent increase in funds to &#163 1.6 billion.
In the UK, the bank has over 20,000 personal and business customers. The deposits from savers are up 17 per cent or &#163 33m, while loans are up 14 per cent to &#163 115m.
Triodos Bank was founded in the Netherlands and its UK office opened in Bristol in 1995.
One of the organisation&#039s highlights during 2005 include a share issue raising &#163 4.75m for Triodos Renewables, a fund created to allow individuals to invest in the UK&#039s renewable energy industry.
The organisation&#039s growth is an important sign to High Street banks that the sector is beginning to change, according to Managing Director Charles Middleton. He said: "The growth in figures in 2005 shows just how far sustainable banking has come.
"We may be dwarfed by some of the high street banks, but our rapid and sustained growth proves that people in general, and business in particular, can and are changing the world for the better."

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