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 on the next page.
Segment statement of profit or loss for the year 2022
Amounts 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 |
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Material items of income and expense |
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- Net interest income | 108,544 | 41,585 | 53,148 | 46,393 | 13,451 | 263,121 | -79 | -9,952 | 253,090 |
- Investment income |
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| 8 |
| 8 |
| 608 | 616 |
- Net fee and commission income | 44,281 | 6,626 | 2,809 | 7,645 | 3,802 | 65,163 | 54,410 | 1,330 | 120,903 |
- Net income from other financial instruments at FVTPL | -216 |
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| 2 |
| -214 |
| 114 | -100 |
- Other income | 3 | - | 64 | 808 | 67 | 942 | -219 | 73 | 796 |
- Net intercompany income | -2,912 | -1,288 | -112 | -946 | 522 | -4,736 | -1,383 | 6,119 | - |
Total segment income | 149,700 | 46,923 | 55,909 | 53,910 | 17,842 | 324,284 | 52,729 | -1,708 | 375,305 |
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- Personnel and other administrative expenses | -97,704 | -38,510 | -37,128 | -40,692 | -14,202 | -228,236 | -41,063 | -5,314 | -274,613 |
- Depreciation and amortisation; | -465 | -1,322 | -1,195 | -5,496 | -526 | -9,004 | -273 | -16,204 | -25,481 |
- Impairment result on financial instruments | 1,921 | -1,987 | -5,628 | -2,880 | 430 | -8,144 | 17 | - | -8,127 |
Total segment expenses | -96,248 | -41,819 | -43,951 | -49,068 | -14,298 | -245,384 | -41,319 | -21,518 | -308,221 |
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Segment profit before tax | 53,452 | 5,104 | 11,958 | 4,842 | 3,544 | 78,900 | 11,410 | -23,226 | 67,084 |
- Taxation on operating result | -13,677 | -1,396 | -1,172 | -1,404 | -1,339 | -18,988 | -3,013 | 4,857 | -17,144 |
Net profit | 39,775 | 3,708 | 10,786 | 3,438 | 2,205 | 59,912 | 8,397 | -18,369 | 49,940 |
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Operating expenses/total income | 66% | 85% | 69% | 86% | 83% | 73% | 78% |
| 80% |
Segment statement of profit or loss for the year 2021
Amounts 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 |
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Material items of income and expense |
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- Net interest income | 87,432 | 40,455 | 42,526 | 38,562 | 12,364 | 221,339 | -9 | 140 | 221,470 |
- Investment income |
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| - |
| 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 | 1,051 |
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| 23 |
| 1,074 |
| 963 | 2,037 |
- Other income | 13 | 78 | -40 | 1,775 | 63 | 1,889 | 115 | 62 | 2,066 |
- 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 |
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- 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 result 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 |
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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 |
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Operating expenses/total income | 72% | 71% | 73% | 95% | 92% | 77% | 83% |
| 80% |
Selected assets and liabilities per segment 2022
Amounts 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 | 5,214,023 | 1,829,243 | 1,266,514 | 1,799,215 | 538,462 | 10,647,457 | - | - | -27,781 | 10,619,676 |
Number of loans and facilities | 39,270 | 4,575 | 7,960 | 14,774 | 16,354 | 82,933 |
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| -2 | 82,931 |
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Total assets | 8,248,348 | 2,380,284 | 2,119,828 | 2,476,645 | 925,555 | 16,150,660 | 49,228 | 2,406,732 | -2,806,140 | 15,800,480 |
Funds under management | 752,818 | 1,142,069 | - | 27,446 | 4,366 | 1,926,699 | 5,548,436 | 71,083 | -752,818 | 6,793,400 |
Total assets under management | 9,001,166 | 3,522,353 | 2,119,828 | 2,504,091 | 929,921 | 18,077,359 | 5,597,664 | 2,477,815 | -3,558,958 | 22,593,880 |
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Deposits from customers | 6,886,605 | 2,099,797 | 1,854,532 | 2,224,741 | 774,313 | 13,839,988 | - | - | -23,648 | 13,816,340 |
Number of accounts | 453,327 | 80,432 | 108,057 | 186,970 | 55,828 | 884,614 | - | - | -7 | 884,607 |
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Total liabilities | 7,660,623 | 2,175,092 | 1,898,337 | 2,298,831 | 851,697 | 14,884,580 | 15,390 | 1,146,159 | -1,505,044 | 14,541,085 |
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Average number of FTE's during the year | 311.1 | 162.8 | 252.2 | 275.0 | 65.7 | 1,066.7 | 205.8 | 360.1 |
| 1,632.6 |
Selected assets and liabilities per segment 2021
Amounts 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 |
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| -2 | 84,386 |
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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 management1 | 902,629 | 1,230,139 |
| 30,239 | 3,095 | 2,166,102 | 6,365,408 | 66,530 | -902,629 | 7,695,411 |
Total assets under management | 9,153,408 | 3,848,476 | 2,180,016 | 2,821,946 | 903,625 | 18,907,471 | 6,404,892 | 2,224,896 | -3,337,663 | 24,199,596 |
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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 |
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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 |
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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 |
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Reconciliation of information on reportable segments to IFRS measures
Amounts in thousands of EUR | 2022 | 2021 |
|---|---|---|
i. Income |
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Total income for reportable segments | 375,305 | 341,931 |
Unallocated amounts | - | - |
Elimination of inter-segment income | - | - |
Consolidated revenue | 375,305 | 341,931 |
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ii. Profit before tax |
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Total profit or loss for reportable segments | 67,084 | 67,149 |
Unallocated amounts | - | - |
Consolidated profit before tax | 67,084 | 67,149 |
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iii.Assets |
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Total assets for reportable segments | 15,800,480 | 16,504,185 |
Other unallocated amounts | - | - |
Consolidated total assets | 15,800,480 | 16,504,185 |
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iv. Liabilities |
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Total liabilities for reportable segments | 14,541,085 | 15,254,063 |
Other unallocated amounts | - | - |
Consolidated total liabilities | 14,541,085 | 15,254,063 |