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

 

 

 

 

 

 

 

 

 

Material items of income and expense

 

 

 

 

 

 

 

 

 

- Net interest income

108,544

41,585

53,148

46,393

13,451

263,121

-79

-9,952

253,090

- Investment income

 

 

 

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

 

 

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

 

 

 

 

 

 

 

 

 

 

- 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

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

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

1,051

 

 

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

 

 

 

 

 

 

 

 

 

 

- 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

 

 

 

 

 

 

 

 

 

 

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%

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

 

 

-2

82,931

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

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

 

 

-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 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

 

 

 

 

 

 

 

 

 

 

 

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

1

The funds under management have been restated by EUR 33 million due to an improvement to the internal definition of funds under management in 2022.

Reconciliation of information on reportable segments to IFRS measures

Amounts in thousands of EUR

2022

2021

i. Income

 

 

Total income for reportable segments

375,305

341,931

Unallocated amounts

-

-

Elimination of inter-segment income

-

-

Consolidated revenue

375,305

341,931

 

 

 

ii. Profit before tax

 

 

Total profit or loss for reportable segments

67,084

67,149

Unallocated amounts

-

-

Consolidated profit before tax

67,084

67,149

 

 

 

iii.Assets

 

 

Total assets for reportable segments

15,800,480

16,504,185

Other unallocated amounts

-

-

Consolidated total assets

15,800,480

16,504,185

 

 

 

iv. Liabilities

 

 

Total liabilities for reportable segments

14,541,085

15,254,063

Other unallocated amounts

-

-

Consolidated total liabilities

14,541,085

15,254,063