Triodos Bank sometimes repossesses assets which come from acquisition in public auctions. These assets are collaterals of an executed loan. A part of the repossessed assets however will not be sold immediately because Triodos Bank has opted to add value by renting out these assets and are therefore presented as investment property.

The movement in the investment property is as follows:

 

2020

2019

 

 

 

Acquisition value as at 1 January

12,630

12,589

Cumulative depreciation as at 1 January

-1,618

-1,265

 

 

 

Balance sheet as at 1 January

11,012

11,324

New foreclosed assets

158

41

Depreciation

-234

-239

Impairments

-22

-114

 

 

 

Balance sheet value as at 31 December

10,914

11,012

 

 

 

Purchase value as at 31 December

12,788

12,630

Cumulative depreciation as at 31 December

-1,874

-1,618

 

 

 

Balance sheet value as at 31 December

10,914

11,012

Leases as lessor

Triodos Bank leases out its investment properties for the purpose of adding value to the repossessed assets. Triodos Bank has recognised the following items in the profit and loss account.

 

2020

2019

 

 

 

Rental income

181

246

Operating expenses

-46

-262

 

 

 

Total result on investment properties

135

-16