Finance: Triodos declares annual profit rise

Social bank Triodos has announced a rise in its loan portfolio of 17 per cent in the past year.

The bank, which makes loans only to charities and social businesses, now has £386m in current loans.

Triodos, whose borrowers include Greenpeace and Cafedirect, also announced annual profits of £2.5m, a rise of 20 per cent from its 2003/4 figures.

But the bank maintained that it was content with relatively small profits.

"While much of the high street has welcomed billion-pound results, Triodos Bank is equally pleased to announce much humbler profits," said UK managing director Charles Middleton. "Triodos is about people, planet and profit, so we view our success in very different terms."

The results cover Triodos' activities in the Netherlands, Belgium and Spain, as well as in the UK.

FACT FILE

- Triodos has announced an annual profit of £2.5m for 2004/5

- Deposits rose by 19 per cent, to £1.25bn

- Loans grew by 17 per cent, to £386m

- The bank has 100,000 depositors and investors.

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