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amounts in millions of EUR1

2021

2020

2019

2018

2017

Financial

 

 

 

 

 

Equity

1,250

1,208

1,201

1,112

1,013

Deposits from customers

13,285

11,747

10,694

9,564

8,722

Loans and advances to customers

10,168

9,157

8,209

7,267

6,598

 

 

 

 

 

 

Balance sheet total

16,504

13,888

12,082

10,867

9,902

Funds under management2

7,662

6,362

5,671

4,673

4,604

Total assets under management

24,166

20,250

17,753

15,540

14,506

 

 

 

 

 

 

Total income

341.9

305.1

292.2

257.1

240.3

Operating expenses

-275.2

-245.4

-234.4

-204.3

-190.2

Impairment result on financial instruments

0.4

-24.2

-3.7

-6.4

-1.8

Value adjustments to participating interests

-

-

-

-

1.3

Operating result before taxation

67.1

35.5

54.1

46.4

49.6

Taxation on operating result

-16.4

-8.3

-15.1

-11.2

-12.2

Net profit3

50.8

27.2

39.0

35.2

37.4

 

 

 

 

 

 

Return on equity in %

4.1%

2.3%

3.4%

3.3%

3.9%

Return on assets in %

0.3%

0.2%

0.3%

0.3%

0.4%

Operating expenses/total income

80%

80%

80%

79%

79%

 

 

 

 

 

 

Total Capital Ratio

21.3%

18.8%

17.9%

17.5%

19.2%

Minimum requirement Total Capital Ratio

13.0%

12.6%

12.8%

13.7%

12.8%

(Common) Equity Tier 1 Ratio

17.5%

18.7%

17.9%

17.5%

19.2%

Minimum requirement (Common) Equity Tier 1 Ratio

5.9%

6.6%

6.6%

8.2%

7.9%

Leverage Ratio

8.1%

8.8%

8.5%

8.9%

8.9%

Minimum requirement Leverage Ratio

3.5%

3.0%

3.0%

3.0%

3.0%

Return on Risk Weighted Assets in %

0.8%

0.5%

0.6%

0.6%

0.8%

1

IFRS - EU was adopted as of 1 January 2018. Key figures for 2017 are reported under Dutch GAAP.

2

Including funds under management with affiliated parties that have not been included in the consolidation.

3

Net profit is subject to rounding difference.

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amounts in millions of EUR1

2021

2020

2019

2018

2017

Real Economy assets/Balance sheet total2

70%

75%

76%

77%

80%

Triple Bottom Line assets/Balance sheet total2

70%

74%

75%

76%

75%

 

 

 

 

 

 

Per share (in EUR)

 

 

 

 

 

Net asset value at year end3

88

85

83

82

83

Net profit4

3.56

1.91

2.80

2.73

3.19

Dividend5

1.80

0.65

-

1.95

1.95

 

 

 

 

 

 

Number of depository receipt holders

43,521

43,614

44,401

42,416

40,077

Number of accounts - funds entrusted from customers

880,374

867,377

830,816

839,242

808,090

Number of accounts - loans and advances to customers

84,386

81,726

77,984

68,751

60,339

Number of customers

747,413

728,056

721,039

714,887

681,082

 

 

 

 

 

 

Social

 

 

 

 

 

Number of co-workers at year end

1,715

1,592

1,493

1,427

1,377

Number of FTE at year end

1,583.5

1,463.1

1,370.3

1,317.4

1,259.2

Co-worker turnover

10%

8%

10%

9%

9%

Women as percentage of management team

39%

39%

44%

39%

44%

Ratio of highest to median salary6

5.2

5.47

5.6

5.6

5.7

 

 

 

 

 

 

Environment

 

 

 

 

 

Triodos Bank’s own emissions, 100% compensation (in ktonne CO2e)

0.7

1.0

2.9

2.8

3.1

Net emissions in outstanding loans and investments (in ktonne CO2e)8

364

358

293

152

-

Avoided emissions in renewable energy loans and investments (in ktonne CO2e)8

-851

-933

-963

-985

-

1

IFRS - EU was adopted as of 1 January 2018. Key figures for 2017 are reported under Dutch GAAP.

2

Triple Bottom Line assets refer to assets not only focused on economic benefits, but also on positive social and environmental benefits. We believe this figure provides the best indication of a bank’s commitment to sustainability. The 2019 and 2018 figures have been adjusted to IFRS reporting.

3

The net asset value per share is the total equity divided by the total shares outstanding. The net asset value per share is not the trading price. The NAV as per 31 December 2020 was calculated at EUR 85 after all financial data for the Annual Accounts 2020 were processed. The last trading price on 5 January 2021, EUR 84, was based on the financial model that derived for that day the calculated net asset value of Triodos Bank. This calculation took place on a daily basis.

4

The figure of net profit per share is calculated on the average number of issued shares in circulation during the financial year.

5

For the year result of 2021 Triodos Bank proposes a dividend of EUR 1.80 per share, equivalent to a 50% pay-out ratio (the percentage of total profit distributed as dividends).

6

The ratio of highest to median salary (excluding highest salary) follows the GRI criteria and is considered best practice. All salaries are calculated on a full-time basis.

7

The ratio highest to median salary for 2020 has been adjusted from 5.5 to 5.4, due to the fact that the ratio for the UK was incorrect. For more information we refer to the table “Ratio highest to median salary” in the remuneration report.

8

2018 was the first year of reporting using the Partnership for Carbon Accounting Financials (PCAF) methodology. Since 2019 Triodos Bank assesses 100% of our loans and funds’ investments to calculate Triodos Bank's share in the GHG emissions by using the global PCAF Standard (in 2018 around 68% of Triodos Bank's loans and funds’ investments were assessed).

Where Triodos Bank is active internationally