Triodos Bank enters into various transactions with related parties, as part of the normal course of business,
Related parties of Triodos Bank include, among others, its subsidiaries, associates and key management personnel. Transactions between related parties include rendering or receiving of services, deposits, transfers under finance arrangements and provisions of guarantees or collateral. All transactions with related parties took place at arm's length.
There are no significant provisions for doubtful debts or individually significant bad debt expenses recognised on outstanding balances with related parties.
Overview of related parties transactions
Other related parties
Associates and joint ventures
Loan facilities and loan commitments (off balance)
Transactions with related parties
The commission income and commission expenses are related to fund management activities. The deposits and interest income are transactions following from regular banking activities, which are offered to the related parties at competitive rates. These transactions are interest fee and unsecured and are to be settled in cash.
The loan granted to associates is a subordinated loan provided to Merkur Bank. The maturity date of this loan is 30th of April 2026, to be settled in cash. The interest rate charged is 5%.
The loans granted to other related parties are provided to Hivos-Triodos Fund Foundation. The 6.135K consists of two loans that both mature on the 1st of January 2022, to be settled in cash. The interest rates on the loans are 2.63% and 3% respectively.
Loan commitments and facilities off balance
The loan commitments and facilities are off balance sheet credit facilities of TBNL that can be drawn upon by the other related parties.
These facilities are secured by means of collateral in the form of fund assets that cover the facility provided in full.
Key management personnel compensation
Transactions with key management personnel are transactions with related parties. The members of the Executive Board, supervisory board and the board of SAAT are considered to be key management personnel and their compensation is therefore included in the tables below.
The remuneration paid to the members of the Executive Board is as follows:
Fixed salary expenses
Pension allowance for salary above € 100.000
Private use company car
Social security expenses
Severance payment 1)
Other emoluments of the Executive Board:
Total other emoluments
The other emoluments relate to costs associated with relocation to the Netherlands.
Remuneration paid to the Supervisory Board:
Remuneration paid to the Board of SAAT
Loans and advances to key management personnel
The table below provides the loans that have been granted to the members of the Executive Board.
No other loans, advances or guarantees have been granted to members of the Executive Board, Supervisory Board members or members of Board of SAAT. For reasons of principle, no share option scheme is offered to members of the Executive Board, Supervisory Board members or members of Board of SAAT.