The strategic objectives for 2021 aim to ensure we meet the three-year objectives in the final year of our 2019-2021 strategic plan. We have identified 13 key objectives, which are summarised below within our three strategic themes. We intend to progress and transform within each of these themes by realising these objectives.

One bank: redesigned, responsive and robust

We are improving our operating model by acting as one (bank), enhancing the customer experience and responsiveness to customer needs via unified, digitally supported processes, leading to a step-change in efficiency and control.

Within this theme, managing the potentially extensive effects of COVID-19 on our business model is the current priority. There are consequences for revenues, provisions, cost considerations and capital. We also need to maintain focus on the longer-term business model as the underlying drivers of low interest rates and high regulatory costs have not changed. For 2021, eight key objectives have been formulated:

  1. Maintain strong focus on profitable lending growth and stringent monitoring of the lending portfolio.

  2. Enlarge our assets under management and related fee income by growing Triodos IM in a profitable way and rolling out the bank investment distribution strategy.

  3. Pursue balanced growth in mortgages, carefully considering impact, risk and return.

  4. Mitigate excessive inflow of funds.

  5. Invest in functionality to:
    - digitalise the banking operating model;
    - safeguard our licence to operate;
    - improve customer experience;
    - and reduce costs.

  6. Improve effectiveness and contain costs from centralisation and efficiency measures.

  7. Refine the Group’s capital strategy based on recent economic developments, with DRs at its core.

  8. Continue to improve our customer integrity monitoring processes.

Unlocking our purpose: enabling customer engagement; activating our communities

We are bringing purpose into our customer propositions by connecting them more explicitly to impact. In doing so, we empower customers and communities to take action to realise that impact.

We intend to become the reference platform for sustainable finance, offering carefully selected products from other providers as well as our own purpose-linked products and impact investment solutions.

We have specified three objectives for 2021:

  1. Create a prototype of a sustainable finance platform design, including its value case and realisation roadmap and start executing on it.

  2. Use our vision of how societal change will occur per impact theme (energy and climate, food and agriculture, social inclusion) to create scalable business propositions, primarily for the bank and Triodos Investment Management.

  3. Invest in measuring, managing and unlocking impact information.

Frontrunner in responsible finance: leading by example; innovating finance for impact

We aim to take a leadership role in the transition of the financial system, moving from niche player to frontrunner.

We have identified the following two key objectives under this theme:

  1. Execute our Change Finance Strategy 2020-2022

  2. Position the Triodos Regenerative Money Centre to increase and leverage our impact