2021

2020

Deposits from banks

73,920

66,965

Deposits from Central Banks (TLTRO)

1,550,000

750,000

Interest payable

-15,614

-1,825

Balance sheet value as at 31 December

1,608,306

815,140

The deposits from banks concerns credits held by Kreditanstalt für Wiederaufbau, Germany and Landwirtschaftliche Rentenbanken, Germany for interest-subsidised loans in the renewable energy sector.

Triodos Bank entered into TLTROIII (hereafter ‘TLTRO’) funding with the ECB, with an early repayment option on 23 June 2022. The interest rate on the TLTRO depends on the lending volumes granted to corporates (excluding financial institutions) and households (excluding mortgages).

The interest rate applied on all TLTRO operations outstanding will be 50 basis points below the average interest rate on the deposit facility prevailing over the same period, and in any case not higher than -1%, if lending conditions under the program are met. The lending condition is met if Triodos Bank shows growth in its lending volumes equal to or above 0% in two periods. The period is between 1 March 2020 and 31 March 2021 and the second period between 1 October 2020 and 31 December 2021. Triodos Bank met the conditions in both periods. The interest rate for the first period is applied between 24 June 2020 and 23 June 2021 and for the second period between 24 June 2021 and 23 June 2022. In subsequent years the interest will be between the Deposit Facility and Main Refinancing Operations interest rates, depending to what lending growth conditions Triodos Bank meets within the TLTRO program.

Deposits from banks classified by residual maturity:

 

2021

2020

Payable on demand

13,460

87

1 to 3 months

2,815

-

3 months to 1 year

1,536,708

753,067

1 to 5 years

14,513

13,378

Longer than 5 years

40,810

48,608

Balance sheet value as at 31 December

1,608,306

815,140