This section describes the main results achieved in 2022 at Group level as well as by Triodos Bank division. It describes its products and services, their broader impact and the prospects for the coming years. Because Triodos Bank integrates its values-based mission and strategy, these results combine both financial and non-financial performance. They provide insight into how our mission and strategic objectives performed in 2022.
First, we present consolidated financial results. This is then broken down into results by division, including an overview of our loan and investment portfolio. Loans and investments are then linked to their impact, which includes positive impact and any negative impact from additional emissions generated by financed activities.
Key points for the financial year 2022 at a glance
Strong focus on accelerated climate measures supported by Triodos Bank to finance the investments needed for the transition to a low-carbon economy
611 projects co-financed in the sustainable energy sector (an increase of 25 projects in 2022), with total generating capacity of 9100 MW producing the equivalent of the electricity needs of 7.4 million households worldwide
0.8 million tonnes of CO2 emissions avoided as a result of sustainable energy projects financed by Triodos Bank
In a year of optimising our resources and preparation for the DR listing, Triodos Bank reports a net profit of EUR 49.9 million after tax for 2022 (FY 2021: EUR 50.8 million)
Our sound performance in 2022 was supported by higher income of EUR 375.3 million, and a marked cost growth to EUR 300.1 million, despite higher impairments of EUR 8.1 million and ongoing margin pressure
Overall loan business remains resilient, benefitting from high credit quality and a diversified loan portfolio with presence across Europe
Triodos Bank’s total assets under management decreased by EUR 1.6 billion in 2022 to EUR 22.6 billion per end of December 2022 (FY 2021: EUR 24.2 billion), driven by the repayment of the TLTRO facility to the DNB and a decrease in funds under management due to a decline in stock prices and a lower inflow or, in some cases, even an outflow of funds
Triodos Bank reports a return on equity (ROE) of 4.0% (FY 2021: 4.1%) and a stable cost-income ratio (CIR) of 80% per end of December 2022 (FY 2021: 80%)
Dividend over 2022 amounts to EUR 2.11 per Depository Receipt (DR) (2021: EUR 1.80) excluding the extraordinary dividend of EUR 1.01 per DR. This includes the earlier paid interim dividend of EUR 0.35 and a final dividend amount of EUR 1.76 per DR that Triodos Bank will propose at the Annual General Meeting in May 2023.
Triodos Bank’s capital ratios remain resilient with CET1 ratio of 17.3% and TCR of 21.0% in 2022