Triodos: Sustainable Bank Invites Anyone to Own a Stake in It

Sep 2009
London, United Kingdom, September, 30 2009 - Triodos Bank, the Dutch sustainable bank with UK headquarters in Bristol, has opened up an opportunity for anybody to own a stake in the bank.

The bank today began issuing Depository Receipts inviting investors to co-own it. It hopes to raise €90 million (£82 million), as part of a pan-European effort to attract more capital for the bank. The money will be used to support further growth, lending more money to more ethical organisations.

Following the revelation in July by UK Financial Investments that every household in the country has more than £3000 invested in the Lloyds Banking Group and the Royal Bank of Scotland, Triodos claims there is now an opportunity to own a stake in a bank “for all the right reasons”. It says the extra investment will support the bank's work lending to and investing in entrepreneurs at the forefront of efforts to tackle social and environmental problems.

“We think Triodos Bank’s success is because it’s doing an excellent job within sectors that themselves are continuing to grow – including renewable energy, social business, micro-finance and organic farming," said Triodos managing director Charles Middleton. "We believe that these areas have developed, and will continue to do so, because the issues they are dealing with are more urgent than ever."

Triodos Bank has shown consistent profitability throughout the financial crisis and has a strong capital position, which it claims has grown from high-quality responsible lending evolved from strong relationships with environmental and ethical markets it understands well.

According to its ceo, Peter Blom, the bank has "always delivered lending on the basis of a direct relationship with our borrowers, detailed knowledge of their business and the markets they work in.”

More than 5,000 investors took part in Triodos Bank’s last international issue of Depository Receipts in 2007, increasing its equity by over 50 per cent and around £45 million, against a target of £20 million.

“Many mainstream banks, who have been hit hardest by the financial crisis, have needed to raise capital because they are in trouble,” said Middleton. “Our requirements are different. We have more money on deposit than we lend and we’re using it to support lending at record levels."

Source : Green Wise

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