The balance sheet value of the assets held-for-sale as at 31 December can be broken down as follows:

 

2021

2020

Repossessed assets

6,544

10,343

Own property held for sale

6,135

5,860

Shares in investment funds held for sale

-

2,769

Balance sheet value as at 31 December

12,679

18,972

Triodos Bank can acquire the collateral under non performing loans, all assets acquired are real estate. It is the intention of Triodos Bank to dispose of these assets as they are not part of the primary business of the Bank. If permitted by the underlying contracts of the acquired assets, these assets are presented as real estate for sale, using a realtor.

Triodos Investment Management has provided seed capital to a new investment fund in November 2020 to improve the product offering and with the intention to exit within a year. The exit was realised, as intended, in November 2021.

The disclosure regarding the addition to the assets held for sale as required by IFRS 5 is included in note 7, Property and Equipment, on page Property and equipment of the financial statements. The increase in bookvalue can be explained by the revaluation based on the sale agreement in 2021.

 

2021

2020

Cumulative impairments on assets held for sale

-762

-594

Total for the year

-762

-594