Triodos Bank helped Sleat Community Trust purchase Tormore Forest for sustainable forestry.
Triodos Bank has announced record annual growth in 2011, with a 36% increase in its UK loan book to £424m. The results represent a net increase of £113m, compared to £64m in 2010, with new loans supporting a range of sustainable businesses and initiatives. The bank’s total loan book lending and commitments now total £625m.
Triodos only lends to businesses and charities delivering social and environmental benefits, from renewable energy to community initiatives, so all the money deposited with the bank by its savers actively supports projects working towards a more sustainable society. The bank has challenged customers of other banks to consider whether their bank has similar positive impact.
Dr Bevis Watts, Head of Business Bank at Triodos says: “These results are very exciting and mean we’re already two years ahead of our previous business plan targets. 36% growth over the year demonstrates demand for sustainable finance despite the challenging economic environment. It’s also an indication that a sustainable and socially conscious approach can help businesses and charities to flourish, bucking the trends of the wider market.”
“Demand is so high for finance from Triodos that we now have to carefully select the strongest applicants to ensure the money savers deposit with us has the greatest possible positive social and environmental impact. We expect our lending to grow by at least a further 20% in 2012, but we could do even more if more people took a conscious decision about their savings. So, I challenge individual savers and businesses to think about what their savings could be doing if their money was deposited with a bank with a more conscious and sustainable approach to lending and investment.”
The bank’s largest volume growth areas were renewable energy and social housing, with significant growth to other areas of its loan book including a 150% increase in its lending to the education sector and 30% growth in healthcare. Loans to arts and cultural projects grew by 22% and lending to organic farms was up by 11%.
Organisations that borrowed from Triodos Bank in 2011 include Sleat Community Trust on the Isle of Skye to purchase Tormore Forest for sustainable forestry, enterprise and an amenity area for the benefit of the community and Giroscope, a social enterprise in Hull which renovates empty dilapidated properties for use by those most in need of housing.
To find out more about Triodos Bank’s range of banking services, visit www.triodos.co.uk or call 0500 008 720. Triodos Bank’s full international results will be available in April 2012.
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