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:

 

2021

2020

Acquisition value as at 1 January

12,788

12,630

Cumulative depreciation as at 1 January

-1,874

-1,618

Balance sheet as at 1 January

10,914

11,012

New foreclosed assets

-

158

Sales

-1,874

-

Depreciation

-239

-234

Impairments

-896

-22

Balance sheet value as at 31 December

7,905

10,914

 

 

 

Purchase value as at 31 December

10,463

12,788

Cumulative depreciation as at 31 December

-2,558

-1,874

Balance sheet value as at 31 December

7,905

10,914

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.

 

2021

2020

Rental income

183

181

Operating expenses

-499

-46

Total result on investment properties

-316

135