Triodos Bank will take a substantial provision related to settlement offer to Depository Receipt Holders
Driebergen-Rijsenburg, the Netherlands – 10 January 2025 at 07:30 (CEST) - Triodos Bank will take a provision of EUR 101 million before tax for 2024. The provision is related to the anticipated costs of the settlement offer to Depository Receipt (DR) Holders that was announced today. This provision will have a significant impact on Triodos Bank’s profit for 2024. Triodos Bank expects its 2024 financial results to be close to break even and no final dividend to be paid for 2024. Therefore, the total dividend for 2024 will be equal to the interim dividend of EUR 1.27 that was paid in September last year. Triodos Bank will provide further information on the provision and its impact on Triodos Bank’s financial performance in its Annual Report and Press Release about the 2024 full year results that will be published on 13 March 2025.
The settlement offer is part of a total package of measures for DR Holders that aims to address the dissatisfaction experienced by DR Holders, rebuild trust and allow for full focus to return to the future of Triodos Bank and its pursuit of positive impact. As part of the measures Triodos Bank will offer all eligible DR Holders who owned DRs on 28 June 2023 the option to accept a payment of EUR 10 per DR in exchange for full and final discharge. Excluded from this settlement offer are DR Holders who already achieved finality vis-à-vis Triodos Bank on a DR related claim, for example by means of a final verdict.
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About Triodos
Founded in 1980, Triodos Bank has become a frontrunner in sustainable banking globally. Triodos Bank is a listed independent bank that promotes responsible and transparent banking. It does not see any conflict between a focus on people and the planet and a good financial return. Instead, it believes that they reinforce each other in the long term.
Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values, a network of 60 sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.
Triodos Bank has a full banking licence and is registered with De Nederlandsche Bank N.V. (the Dutch central bank) and the Autoriteit Financiële Markten (the Dutch Authority for the Financial Markets). Most recent company information is available on Triodos Bank’s website: www.triodos.com
Disclaimer
The information in this document has been obtained or derived from sources believed by Triodos Bank N.V. to be reliable at the date of publication of this document. However, no representations are made as to its accuracy or completeness. The information may be subject to change, and Triodos Bank N.V. assumes no undertaking to revise or amend the information provided, or to provide any update in respect of any change related thereto. Triodos Bank N.V. accepts no liability for loss arising from the use of the information. The information is: (i) for discussion purposes only; (ii) not to be regarded as (investment) advice; and (iii) not to be relied upon in substitution for the exercise of independent and sound judgement.
This document does not constitute any commitment or any offer to commit to any transaction or financing by Triodos Bank N.V.
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