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7. Participating Interests

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Other participating interests

16,411

13,803

 

 

As part of its mission, Triodos Bank wishes sustainable banking to create more and more impact over the world. In this respect, Triodos Bank provides equity funding to like minded financial institutions in order to increase growth of the sustainable banking sector. No significant influence can be exercised on our participating interests. The value of these interests is based on the published share price. In absence of a public share price or if such a public share price is established in a non active stock exchange market (low trading activity) Triodos Bank estimates the fair value through the net asset value. The other participating interests can be broken down as follows.

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in thousands of EUR

2016

2015

 

 

 

1

Credit institution

 

 

 

New Resource Bank, San Francisco1

5,191

5,809

Merkur Bank KGaA, Copenhagen1

1,233

1,151

Cultura Bank Sparebank, Oslo1

110

104

GLS Gemeinschaftsbank eG, Bochum1

50

50

Banca Popolare Etica Scpa, Padova1

130

130

Ekobanken Medlemsbank, Järna1

51

52

Social Enterprise Finance Australia Limited, Sydney

469

420

Bpifrance Financement S.A., Maisons-Alfort.

117

117

Sustainability – Finance – Real Economies SICAV-SIF public limited liability company, Luxembourg

1,469

1,728

Sustainalytics Holding B.V., Amsterdam

2,472

2,473

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden N.V. (FMO), The Hague

1,680

1,769

Thrive Renewables Plc, Bristol

3,025

Visa Inc, San Francisco1

364

La Bolsa Social, plataforma de financiación participativa, S.A., Madrid

50

 

 

 

 

 

 

 

16,411

13,803

 

 

The movement of the participating interests is as follows:

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Balance sheet value as at 1 January

13,803

8,720

Acquisitions

3,302

2,185

Increase of capital

270

2,023

Revaluation

–1,269

313

Repayment of capital

Exchange rate results on foreign currencies

305

562

 

 

 

 

 

 

Balance sheet value as at 31 December

16,411

13,803

 

 

The participation in the New Resource Bank is carried at fair value. Until 2015 the fair value was estimated through the net asset value because of low trading activity on the stock exchange market. As the trading activity has increased on the stock market, the fair value of this participation is based on the public share price starting 2016. The effect of this change in estimation of the fair value is a devaluation in the amount of EUR 863 against the profit and loss account.