UK: record lending growth for ethical bank

Triodos Bank increased its lending by £50 million, up 43% during 2006, and now lends over £160 million to hundreds of UK?s the most progressive organisations.

?2006 has been a record year,? said Head of Business Banking, Gavin Smith. ?As more and more values-driven businesses and charities emerge, so does their need for a financial partner who can help them progress.?

Lending growth was most marked in the renewable energy sector, with loans up by £24 million, a 72% increase on 2005. While the public?s continuing demand for organic food, meant lending to organic farms was up by two thirds or £6.8 million.

Triodos Bank lends to hundreds of organisations that care about people and planet, as well as profit – from well-known brands like Cafédirect to organisations making a difference at a local level. New borrowers in 2006 included Pecan, a social enterprise helping people to find meaningful employment in London; and Southern Solar, specialists in the design and installation of a range of renewable energy technologies.

?As Director of an environmental business, I wanted to work with an eco-friendly bank,? says Southern Solar?s Luke Hutchinson. ?Triodos ticked the right boxes here, but more importantly they understood my business and cared about its success.?

?We want to build on this achievement further,? said Gavin Smith. ?And we?ve expanded our team with this in mind. New loan managers for the environment, retail and social lending teams, appointing a credit risk manager, and a Regional Manager for South East England, mean we?re better placed than ever to support the ethical businesses that will make a difference in 2007.?

www.triodos.co.uk