Triodos Bank reaches GBP 1 billion lending in the UK amid COVID-19

Monday 24 August 2020 11:32 CET | News

Sustainable bank Triodos has reached GBP 1 billion in UK lending while credit losses rise due to the coronavirus.

Triodos, which operates in six European countries, saw its total loan book reach EUR 8.58 billion (up 4.6%) with the UK accounting for GBP 1008 million of that. Profits fell to just EUR 6.7 million, down from EUR 18.1 million in 2019, which the bank said was almost entirely due to a much larger expected credit loss provision that it’s been forced to account for in the wake of Covid-19, according to AltFi.

Triodos added EUR 12.6 million to its credit loss provision in the first half of 2020, up from just EUR 2 million added in H1 2019. Overall, the bank’s balance sheet across its markets has grown to EUR 12.9 billion, up 8.6% year-on-year and with the UK accounting for GBP 1.5 billion of that.

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Keywords: Triodos Bank, lending, UK, United Kingdom, COVID-19, sustainable bank, credit losses, coronavirus, profits, credit loss provision, bank
Categories: Banking & Fintech
Countries: United Kingdom
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Banking & Fintech

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