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Solvency

in thousands of EUR

The calculation of the Common Equity Tier 1 ratio and the total capital ratio is based on the reporting requirement under the Capital Requirement Directive (CRD) and Capital Requirement Regulation (CRR) known as at reporting date.

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1

Retained earnings are according the CRR recognised in the Tier 1 capital after a formal decision confirming the final profit or loss of the institution for the year or with the prior permission of the competent authority.

2

These are Subordinated liabilities which are weighted for 0% (2015: 10.6%) in the capital, due to the maturity which is shorter than 5 years. The bond matured on 12 July 2016.

3

The Dutch Central Bank stated that the Common Equity Tier 1 ratio must be at least 4.5%.

4

The Dutch Central Bank stated that the Tier 1 ratio must be at least 6.0%.

 

2016

2016

2015

2015

in thousands of EUR

Amount at disclosure date

Residual amount of regulation EU 575/2013

Amount at disclosure date

Residual amount of regulation EU 575/2013

 

 

 

 

 

 

 

 

 

 

Capital instruments and the related share premium accounts of which: ordinary shares

705,572

 

608,264

 

Retained earnings1

 

 

Accumulated other comprehensive income (and other reserves, to include unrealised gains and losses under the applicable accounting standards)

168,963

 

131,526

 

Independently reviewed interim profits net of any foreseeable charge or dividend1

 

 

 

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 (CET1) capital before regulatory adjustments

874,535

 

739,790

 

 

 

 

 

 

Additional value adjustments

–7,216

 

 

Intangible assets (net of related tax liability)

–22,932

–17,134

 

 

 

 

 

 

 

 

 

 

Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liability where the conditions in CRR Article 38 (3) are met)

–4,672

–3,114

–2,779

–4,169

Regulatory adjustments relating to unrealised gains and losses pursuant to CRR Articles 467 and 468

 

 

 

 

Of which: adjustment for unrealised gains on participating interests

–193

 

–185

 

Of which: adjustment for unrealised gains on property

–82

 

–117

 

 

 

 

 

 

 

 

 

 

 

Total regulatory adjustments to Common Equity Tier 1 (CET1)

–35,095

 

–20,215

 

Common Equity Tier 1 (CET1) capital

839,440

 

719,575

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional Tier 1 (AT1) capital

 

 

 

 

 

 

 

Tier 1 capital (T1 = CET1 + AT1)

839,440

 

719,575

 

Tier 2 (T2) capital: instruments and provisions

 

 

 

 

 

 

 

 

 

Capital instruments and the related share premium accounts2

 

557

 

 

 

 

 

 

Tier 2 (T2) capital before regulatory adjustments

 

557

 

 

 

 

 

 

Tier 2 (T2) capital

 

557

 

 

 

 

 

 

 

 

 

 

 

Total capital (TC = T1 + T2)

839,440

 

720,132

 

 

 

 

 

 

Risk weighted assets of residual amount not deducted from capital

 

 

Of which: items not deducted from Common Equity Tier 1 (CET1) capital

 

 

 

 

 

 

 

Total risk weighted assets

4,368,752

 

3,786,145

 

 

 

 

 

 

Capital ratios and buffers

 

 

 

 

 

 

 

 

 

Common Equity Tier 1 (as a percentage of risk exposure amount)3

19.21%

 

19.01%

 

Tier 1 (as a percentage of risk exposure amount)4

19.21%

 

19.01%

 

Total capital (as a percentage of risk exposure amount)

19.21%

 

19.02%

 

 

 

 

 

 

Institution specific buffer requirement (CET1 requirement in accordance with CRR article 92 (1) (a) plus capital conservation and countercyclical buffer requirements, plus systemic risk buffer, plus the systemically important institution buffer (G-SII or O-SII buffer), expressed as a percentage of risk exposure amount)

0.63%

 

0.00%

 

of which: capital conservation buffer requirement

0.63%

 

0.00%

 

of which: countercyclical buffer requirement

0%

 

0%

 

of which: systemic risk buffer requirement

0%

 

0%

 

Common Equity Tier 1 available to meet buffers (as a percentage of risk exposure amount)

11.21%

 

11.01%

 

 

 

 

 

 

Amounts below the thresholds for deduction (before risk weighting)

 

 

 

 

 

Direct and indirect holdings of the capital of financial sector entities where the institution does not have a significant investment in those entities (amount below 10% threshold)

3,734

 

3,374

 

 

 

 

 

 

Direct and indirect holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount below 10% threshold)

5,191

 

5,809

 

 

 

 

 

 

Deferred tax assets arising from temporary differences (amount below 10% threshold, net of related tax liability where the conditions in Article 38 (3) are met)

1,868

 

1,096

 

 

 

 

 

The risk weighted assets can be specified as follows:

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Risk weighted exposure amount for credit risk

3,970,008

3,423,679

Risk exposure amount for market risk

Risk exposure amount for operational risk

386,756

353,028

Risk exposure amount for credit valuation adjustment

11,988

9,438

 

 

 

 

 

 

Total risk weighted assets

4,368,752

3,786,145

 

 

The risk weighted exposure amount for credit risk can be specified as follows:

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Risk-weighted assets

3,518,340

3,103,020

Risk-weighted off-balance sheet items

403,442

277,521

Risk-weighted derivatives

48,226

43,138

 

 

 

 

 

 

Risk weighted exposure amount for credit risk

3,970,008

3,423,679

 

 

The Risk exposure amount for market risk exclusively concerns exchange rate risk in the case of Triodos Bank. The capital requirement is 8% of the net open foreign currency position if the net open foreign currency position is more than 2% of the actual total capital. The capital requirement is zero if the net open foreign currency position is less than 2% of the actual total capital.

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Bottom line of 2% of the actual total capital

16,789

14,403

Net open foreign currency position

11,893

10,282

Capital requirement percentage

0%

0%

Capital requirement amount for market risk (m)

Risk exposure amount for market risk (m/8%)

 

 

Triodos Bank uses the basic indicator approach (BIA) for operational risk. The capital requirement is 15% of the average relevant income of the previous three years. For Triodos Bank the relevant income is equal to the total income.

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Relevant income for BIA 2013

n/a

163,665

Relevant income for BIA 2014

189,591

189,591

Relevant income for BIA 2015

211,589

211,589

Relevant income for BIA 2016

217,630

n/a

 

 

 

Average income previous three years

206,270

188,282

Capital requirement percentage

15%

15%

Capital requirement amount for operational risk (cror)

30,941

28,242

Risk exposure amount for operational risk (cror/8%)

386,756

353,028

 

 

Risk exposure amount for credit valuation adjustment concerns an adjustment to the mid-market valuation of the OTC derivative portfolio of transactions with a counterparty.

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Capital charge according the standardised method

959

755

Risk exposure amount for credit valuation adjustment (capital charge / 8%)

11,988

9,438

 

 

Countercyclical buffer

Geographical distribution of credit exposure values relevant for the calculation of the countercyclical buffer (effective from 2016):

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2016
in thousands of EUR

General credit exposure values1

Own funds requirements

Own funds requirements weights

Countercyclical capital buffer rate

 

 

 

 

 

1

The general credit risk exposure value is the exposure value after credit risk mitigation and after conversion factor for off balance exposures. This value relates to all exposure classes excluding central governments and central banks, regional governments and local authorities, public sector entities, multilateral development banks and institutions.

 

 

 

 

 

Country:

 

 

 

 

Australia

469

38

0%

0.00%

Belgium

923,706

58,577

19%

0.00%

Switzerland

29

1

0%

0.00%

Chile

229

6

0%

0.00%

Germany

267,803

17,637

6%

0.00%

Denmark

5,767

461

0%

0.00%

Spain

1,064,080

64,144

21%

0.00%

France

393,930

29,464

10%

0.00%

United Kingdom

865,463

40,910

13%

0.00%

Greece

123

10

0%

0.00%

Ireland

45,375

3,490

1%

0.00%

Italy

2,143

171

0%

0.00%

Luxembourg

22,117

1,882

1%

0.00%

Netherlands

1,515,546

88,545

29%

0.00%

Norway

112

9

0%

1.50%

New Zealand

291

6

0%

0.00%

Sweden

55

4

0%

1.50%

United States

5,512

1,064

0%

0.00%

Other countries

18

0%

0.00%

 

 

 

 

 

 

 

 

 

 

Total

5,112,768

306,419

 

 

 

 

 

 

Amount of institution-specific countercyclical capital buffer effective from 2016:

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in thousands of EUR

2016

 

 

 

 

Total risk exposure amount

Triodos Bank specific countercyclical capital buffer rate

0.000065%

Triodos Bank specific countercyclical capital buffer requirement

1