Basis for segmentation

Triodos Bank has the following branches and subsidiaries, which are reportable segments. These branches and subsidiaries operate in different countries and therefore are managed separately based on Triodos Bank's management and internal reporting structure.

Reportable segments

Operations

Bank Netherlands

Retail Banking, Business Banking and Private Banking

Bank Belgium

Retail Banking, Business Banking and Private Banking

Bank United Kingdom

Retail Banking and Business Banking

Bank Spain

Retail Banking and Business Banking

Bank Germany

Retail Banking and Business Banking

Investment Management

Impact investing taking place through investment funds or investment institutions bearing the Triodos name

Head Office including TRMC

Unallocated Head office activities and TRMC

Retail Banking: offer our customers products with a purpose including savings, payments, lending, private banking and investments.

Business Banking: lend money to organisations working to stimulate positive and lasting change.

Head office is organised into the following main departments: ICT, Finance, Treasury, Risk Management, Compliance, HR, Group Audit, Corporate Strategy, Legal, Marketing & Communications. The majority of Group Functions’ costs are allocated to the businesses.

TRMC: The primary objective is to manage non-consolidated entities that lend, invest or donate money that has as its main goal to make pioneering, transformative initiatives possible.

Information about reportable segments

Information related to each reportable segment is set out below. Segment profit before tax, as included in internal management reports reviewed by the Group’s Management Committee, is used to measure performance because management believes that this information is the most relevant in evaluating the results of the respective segments relative to other entities that operate within the same industries. Inter-segment pricing is determined on an arm’s length basis.

Segment income statement for the year 2021

in thousands of EUR

Bank Netherlands

Bank Belgium

Bank United Kingdom

Bank Spain

Bank Germany

Total banking activities

Investment Management

Head Office including TRMC

Total

External income

 

 

 

 

 

 

 

 

 

Material items of income and expense

 

 

 

 

 

 

 

 

 

- Net interest income

87,432

40,455

42,526

38,562

12,364

221,339

-9

140

221,470

- Investment income

 

 

 

 

 

 

 

310

310

- Net fee and commission income

42,308

7,517

3,150

7,716

3,207

63,898

50,664

1,486

116,048

- Net income from other financial instruments at FVTPL

1,017

 

 

23

 

1,040

 

963

2,003

- Other income

47

78

-40

1,775

63

1,923

115

62

2,100

- Net intercompany income

54

-158

-121

-838

-53

-1,116

-110

1,226

-

Total segment income

130,858

47,892

45,515

47,238

15,581

287,084

50,660

4,187

341,931

 

 

 

 

 

 

 

 

 

 

- Personnel and other administrative expenses

-94,167

-32,812

-32,050

-37,387

-13,727

-210,143

-41,818

3,237

-248,724

- Depreciation and amortisation;

-515

-1,402

-1,142

-7,395

-552

-11,006

-327

-15,145

-26,478

- Impairment losses on financial instruments

1,116

1,881

-2,463

-382

276

428

-8

-

420

Total segment expenses

-93,566

-32,333

-35,655

-45,164

-14,003

-220,721

-42,153

-11,908

-274,782

 

 

 

 

 

 

 

 

 

 

Segment profit before tax

37,292

15,559

9,860

2,074

1,578

66,363

8,507

-7,721

67,149

- Taxation on operating result

-9,013

-3,963

-739

-972

-642

-15,329

-2,176

1,115

-16,390

Net profit

28,279

11,596

9,121

1,102

936

51,034

6,331

-6,606

50,759

 

 

 

 

 

 

 

 

 

 

Operating expenses/total income

72%

71%

73%

95%

92%

77%

83%

 

80%

Segment income statement for the year 2020

in thousands of EUR

Bank Netherlands

Bank Belgium

Bank United Kingdom

Bank Spain

Bank Germany

Total banking activities

Investment Management

Head Office including TRMC

Total

External income

 

 

 

 

 

 

 

 

 

Material items of income and expense

 

 

 

 

 

 

 

 

 

- Net interest income

74,609

41,871

36,602

36,045

11,002

200,129

-125

-1,851

198,153

- Investment income

 

 

 

 

 

-

 

449

449

- Net fee and commission income

37,206

7,700

3,519

8,531

2,280

59,236

45,502

1,387

106,125

- Net income from other financial instruments at FVTPL

 

 

 

-1

 

-1

 

-360

-361

- Other income

160

1

-20

274

58

473

-19

279

733

- Net intercompany income

682

9

-175

-558

-6

-48

-

48

-

Total segment income

112,657

49,581

39,926

44,291

13,334

259,789

45,358

-48

305,099

 

 

 

 

 

 

 

 

 

 

- Personnel and other administrative expenses

-79,832

-34,224

-30,027

-34,391

-12,176

-190,650

-36,223

10,165

-216,708

- Depreciation and amortisation;

-699

-1,428

-1,009

-4,640

-491

-8,267

-456

-19,979

-28,702

- Impairment losses on financial instruments

-4,442

-4,430

-3,349

-10,994

-1,009

-24,224

10

1

-24,213

Total segment expenses

-84,973

-40,082

-34,385

-50,025

-13,676

-223,141

-36,669

-9,813

-269,623

 

 

 

 

 

 

 

 

 

 

Segment profit before tax

27,684

9,499

5,541

-5,734

-342

36,648

8,689

-9,861

35,476

- Taxation on operating result

-6,365

-2,755

-439

1,717

-274

-8,116

-2,222

2,065

-8,273

Net profit

21,319

6,744

5,102

-4,017

-616

28,532

6,467

-7,796

27,203

 

 

 

 

 

 

 

 

 

 

Operating expenses/total income

71%

72%

78%

88%

95%

77%

81%

 

80%

Selected assets and liabilities per segment 2021

in thousands of EUR

Bank Netherlands

Bank Belgium

Bank United Kingdom

Bank Spain

Bank Germany

Total banking activities

Investment Management

Head Office including TRMC

Elimination intercompany transactions

Total

Loans and advances to customers

4,640,907

1,825,889

1,345,652

1,759,937

628,575

10,200,960

-

-

-33,162

10,167,798

Number of loans and facilities

37,378

5,639

7,804

16,654

16,913

84,388

 

 

-2

84,386

 

 

 

 

 

 

 

 

 

 

 

Total assets

8,250,779

2,618,337

2,180,016

2,791,707

900,530

16,741,369

39,484

2,158,366

-2,435,034

16,504,185

Funds under management

902,629

1,230,139

 

 

 

2,132,768

6,365,408

66,530

-902,629

7,662,077

Total assets under management

9,153,408

3,848,476

2,180,016

2,791,707

900,530

18,874,137

6,404,892

2,224,896

-3,337,663

24,166,262

 

 

 

 

 

 

 

 

 

 

 

Deposits from customers

6,229,171

2,094,492

1,910,796

2,325,401

737,284

13,297,144

-

-

-12,072

13,285,072

Number of accounts

457,829

84,892

94,933

196,261

46,467

880,382

-

-

-8

880,374

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

7,673,801

2,408,014

1,957,876

2,601,204

824,169

15,465,064

14,043

907,351

-1,132,395

15,254,063

 

 

 

 

 

 

 

 

 

 

 

Average number of FTE's during the year

297.7

153.6

210.9

276.4

60.8

999.4

203.8

329.5

 

1,532.7

Selected assets and liabilities per segment 2020

in thousands of EUR

Bank Netherlands

Bank Belgium

Bank United Kingdom

Bank Spain

Bank Germany

Total banking activities

Investment Management

Head Office including TRMC

Elimination intercompany transactions

Total

Loans and advances to customers

3,987,316

1,815,425

1,195,193

1,636,375

560,349

9,194,658

-

-

-37,948

9,156,710

Number of loans and facilities

35,980

5,134

5,950

20,540

14,124

81,728

 

 

-2

81,726

 

 

 

 

 

 

 

 

 

 

 

Total assets

6,696,893

2,354,844

1,830,507

2,434,715

787,177

14,104,136

33,122

1,782,579

-2,031,440

13,888,397

Funds under management

791,061

845,356

 

 

 

1,636,417

5,449,248

67,288

-791,061

6,361,892

Total assets under management

7,487,954

3,200,200

1,830,507

2,434,715

787,177

15,740,553

5,482,370

1,849,867

-2,822,501

20,250,289

 

 

 

 

 

 

 

 

 

 

 

Deposits from customers

5,271,173

2,082,155

1,577,467

2,216,340

613,518

11,760,653

-

-

-13,446

11,747,207

Number of accounts

462,714

85,254

84,170

201,016

34,223

867,377

-

-

-

867,377

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

6,241,472

2,097,279

1,628,010

2,245,571

689,325

12,901,657

14,012

569,752

-805,236

12,680,185

 

 

 

 

 

 

 

 

 

 

 

Average number of FTE's during the year

269.4

143.5

188.1

272.8

58.0

931.8

179.9

297.0

 

1,408.7

Reconciliations of information on reportable segments to IFRS measures

 

2021

2020

i. Income

 

 

Total income for reportable segments

341,931

305,974

Unallocated amounts

-

-

Elimination of inter-segment income

-

875

Consolidated revenue

341,931

305,099

 

 

 

ii. Profit before tax

 

 

Total profit or loss for reportable segments

67,149

35,476

Unallocated amounts

-

-

Consolidated profit before tax

67,149

35,476

 

 

 

iii.Assets

 

 

Total assets for reportable segments

16,504,185

13,888,397

Other unallocated amounts

-

-

Consolidated total assets

16,504,185

13,888,397

 

 

 

iv. Liabilities

 

 

Total liabilities for reportable segments

15,254,063

12,680,185

Other unallocated amounts

-

-

Consolidated total liabilities

15,254,063

12,680,185