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Triodos reports 18.5% growth in lending over four months
Ethical bank Triodos today announced that its UK lending to businesses grew by a record 18.5 per cent in the first four months of 2011.
The UK loan book grew by almost £60m to £370m to the end of April, nearly equalling the £64m growth the bank achieved in the whole 12 months of 2010.
Additionally, business customers who have agreed guaranteed loan facilities with the bank - which so far have not been drawn-down - means the current total lending and commitments stand at £580m.
Projects such as alternative forms of care and social housing accounted for the largest proportion of growth, along with community ownership projects. Community land trusts are also an increasing area of activity for the bank.
Dr Bevis Watts, head of business banking at Triodos, said: ‘We are supporting some of the most innovative projects in the country – projects we consider important, for the good of UK people, and which are sustainable.
‘We believe the current economic situation continues to present a wide range of opportunities for social and community-focused businesses and we are committed to supporting their vision.
‘Community ownership and empowerment is an agenda Triodos is particularly keen to support. In an era when the UK’s public sector does not have the resources to develop new infrastructure and amenities, leasing publicly owned land and assets to communities – in, for example, community land trusts – provides an opportunity to finance change in a different way.’
Recent customers to borrow from Triodos Bank include Utility Aid, Ruskin Mill, Broadway Lodge, Nehemia Housing Association, Alnwick Community Development Trust and The Whole Works.