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Supervisory Board report

The Supervisory Board supervises and reviews the Executive Board and the policies it pursues, the development of Triodos Bank’s operations and the realisation of its mission. In addition, it assists the Executive Board by providing advice.

Triodos Bank and the economic and financial environment

The Supervisory Board is pleased that during a period of continuing turbulent times in financial markets Triodos Bank was able to continue to develop positively, while maintaining a fair level of profitability during the year. Triodos Bank continues to be a reference point for stakeholders looking for credible, values-based approaches to banking.

Regulatory pressure continued to grow in 2013 and could potentially influence Triodos Bank’s profitability. Indications suggest that this process will continue during 2014. Effective regulation has a positive role to play in the development of the banking system, but it can only address part of the deep-seated structural and cultural issues that continue to affect it.

The Executive Board’s report highlights the environment in which Triodos Bank operates. The Supervisory Board is in full agreement with these comments. It fully supports the Executive Board, and Triodos Bank’s co-workers, in their continuing efforts to make a deep-seated and positive difference to the development of people’s quality of life.

Highlights in 2013

2013 was marked by an increasing gap between funds entrusted and loans. The Supervisory Board considers this development to present a challenge both from a financial and a mission perspective. Many and joint efforts were made to improve Triodos Bank’s risk monitoring systems.

Together with consultants, an important project began to review the design and operating effectiveness of Triodos Bank’s internal governance model. The Supervisory Board will be involved in decision making on the implementation of resulting changes and monitoring their progress.

During the year all the members of the Supervisory Board and the Executive Board took the mandatory Dutch Bankers’ oath. Although Triodos Bank’s values are in line with the Bankers’ oath and already embedded in its culture, the oath helps to further strengthen them, and is in an important element to restore trust in the financial sector.