2018

in thousands of EUR

Bank
Netherlands

Bank
Belgium

Bank
United
Kingdom

Bank
Spain

Bank
Germany

Total
banking
activities

Investment
Management

Other

Elimination
intercompany
transactions

Total

1

Note that at the time this statement was prepared, the Annual Accounts of funds under management are subject to approval of the annual general meeting.

Funds entrusted

4,031,752

1,906,831

1,198,466

2,031,560

401,305

9,569,914

 

 

–11,711

9,558,203

Number of accounts

459,383

81,791

62,570

212,847

22,651

839,242

 

 

 

839,242

 

 

 

 

 

 

 

 

 

 

 

Loans

2,718,727

1,732,147

975,274

1,401,694

445,938

7,273,780

 

 

 

7,273,780

Number of loans

32,850

4,402

3,300

19,081

9,118

68,751

 

 

 

68,751

 

 

 

 

 

 

 

 

 

 

 

Balance sheet total

4,651,097

2,174,582

1,395,205

2,313,543

576,039

11,110,466

 

1,660,860

–1,901,240

10,870,086

Funds under management1

631,280

447,103

 

 

 

1,078,383

4,206,041

19,865

–631,280

4,673,009

Total assets under management

5,282,377

2,621,685

1,395,205

2,313,543

576,039

12,188,849

4,206,041

1,680,725

–2,532,520

15,543,095

 

 

 

 

 

 

 

 

 

 

 

Total income

87,094

48,206

34,292

42,757

10,504

222,853

39,206

8,253

–4,088

266,224

Operating expenses

–61,822

–36,288

–29,747

–36,759

–11,281

–175,897

–31,416

–8,573

4,087

–211,799

Impairments loan portfolio

1,840

–1,096

213

–4,011

–458

–3,512

 

 

 

–3,512

Value adjustments to participations

 

 

 

 

 

 

 

–532

 

–532

 

 

 

 

 

 

 

 

 

 

 

Operating result

27,112

10,822

4,758

1,987

–1,235

43,444

7,790

–852

–1

50,381

Taxation on operating result

–6,370

–3,465

–1,254

–631

94

–11,626

–1,947

1,795

 

–11,778

Net profit

20,742

7,357

3,504

1,356

–1,141

31,818

5,843

943

–1

38,603

 

 

 

 

 

 

 

 

 

 

 

Average number of FTE’s during the year

229.2

135.3

166.9

277.4

52.8

861.6

168.7

266.4

 

1,296.7

 

 

 

 

 

 

 

 

 

 

 

Operating expenses/total income

71%

75%

87%

86%

107%

79%

80%

 

 

80%

2017

in thousands of EUR

Bank
Netherlands

Bank
Belgium

Bank
United
Kingdom

Bank
Spain

Bank
Germany

Total
banking
activities

Investment
Management

Other

Elimination
intercompany
transactions

Total

1

Note that at the time this statement was prepared, the Annual Accounts of funds under management are subject to approval of the annual general meeting.

Funds entrusted

3,555,712

1,763,395

1,102,281

2,005,928

302,802

8,730,118

 

 

–8,230

8,721,888

Number of accounts

415,231

78,402

58,798

235,103

20,556

808,090

 

 

 

808,090

 

 

 

 

 

 

 

 

 

 

 

Loans

2,602,057

1,521,037

899,228

1,181,597

393,982

6,597,901

 

 

6,597,901

Number of loans

31,853

3,777

2,352

16,317

6,040

60,339

 

 

 

60,339

 

 

 

 

 

 

 

 

 

 

 

Balance sheet total

4,111,371

2,029,732

1,290,142

2,215,671

444,105

10,091,021

 

1,403,736

–1,592,437

9,902,320

Funds under management1

697,919

408,486

 

 

 

1,106,405

3,475,897

21,681

 

4,603,983

Total assets under management

4,809,290

2,438,218

1,290,142

2,215,671

444,105

11,197,426

3,475,897

1,425,417

–1,592,437

14,506,303

 

 

 

 

 

 

 

 

 

 

 

Total income

81,670

44,763

31,610

37,070

8,388

203,501

34,497

6,194

–3,922

240,270

Operating expenses

–57,378

–30,865

–24,605

–35,543

–9,644

–158,035

–27,707

–8,350

3,922

–190,170

Impairments loan portfolio

3,147

–239

–311

–4,020

–418

–1,841

 

 

 

–1,841

Value adjustments to participations

 

 

 

 

 

 

 

1,334

 

1,334

 

 

 

 

 

 

 

 

 

 

 

Operating result

27,439

13,659

6,694

–2,493

–1,674

43,625

6,790

–822

49,593

Taxation on operating result

–6,513

–4,751

–1,319

1,254

330

–10,999

–1,696

497

–12,198

Net profit

20,926

8,908

5,375

–1,239

–1,344

32,626

5,094

–325

37,395

 

 

 

 

 

 

 

 

 

 

 

Average number of FTE’s during the year

206.9

128.0

151.9

264.8

47.6

799.2

158.3

245.6

 

1,203.1

 

 

 

 

 

 

 

 

 

 

 

Operating expenses/total income

70%

69%

78%

96%

115%

78%

80%

 

 

79%

Triodos Bank’s approach to tax reflects its values. It sees paying taxes not as a burden, but as a contribution to the societies that the bank operates in. Taxes are an important instrument to fund education, infrastructure and systems. As such, companies should pay taxes as an important part of their role as a responsible business. The VAT included in above table are the non-deductible VAT paid on invoices to suppliers.