Triodos predicts increase in loans

Social lender says growth over the past two years came despite a large number of organisations opting to make early repayments

A Triodos-backed scheme
A Triodos-backed scheme

The social lender Triodos Bank has said it is anticipating an increase in its total lending of about 25 per cent by the end of 2010.

The bank expects to have a loan book of more than £300m and a further £160m in binding commitments by the end of the year, compared with £248m and £150m in the previous year.

Bevis Watts, head of business banking at Triodos, told Third Sector the bank had experienced "very fast growth" for the past two years.

"Despite a year of less demand from civil society organisations, our lending has remained strong," he said.

Loans had already grown by 20 per cent in the previous year - a rise from £207m in 2009 to £248m in 2010. Commitments grew from £30m to £150m over the same period.

Watts said the growth in the loan book came despite a large number of organisations opting to make early repayments, which they could do more cheaply because of current low interest rates.

He said more than half of its lending was to civil society organisations, although that included substantial loans to social housing and community sports groups. He added: "We're continuing to get strong demand and are developing financial structures to support projects that others would have trouble financing."

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