Triodos Bank, having its legal address in Nieuweroordweg 1 in Zeist, The Netherlands, is a public limited liability company (N.V.) under Dutch law (Chamber of Commerce 30062415). Triodos Bank finances companies, institutions and projects that add cultural value and benefit people and the environment, with the support of depositors and investors who want to encourage socially responsible business and a sustainable society.
The consolidated financial statements for the year ended 31 December 2020 were authorised for issue in accordance with a resolution of the directors on 17 March 2021.
These consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards ("IFRS") as adopted by the European Union. These consolidated financial statements relate to the fourtieth financial year of Triodos Bank N.V.
The principal accounting policies are summarised below and have been applied consistently throughout the year, unless stated otherwise.
The pandemic has great impact on people, companies and the economy at large, including Triodos Bank. The expected impact for Triodos Bank relates to credit risk and has a downward effect on profitability. Measures to mitigate the operational risks are in place. Triodos Bank has a resilient capital base. Our capital and liquidity ratios currently remain well above the minimum required levels and are expected to stay above the minimum. Although the continuing impact of COVID-19 on result, liquidity and capital position remain unpredictable, based on the current knowledge and scenario analysis made there is currently no material uncertainty with respect to the financial condition of the company. Based on the aforementioned these financial statements have been prepared on the basis of the going concern assumption.