Triodos Bank almost doubles first half earnings

A Triodos bank branch in Spain. Photo:

Triodos has become the latest Dutch bank to report its first-half profits have gone up in the region of 100%, following the big three ABN Amro, ING and Rabobank, and state-owned Volksbank

Triodos, which describes itself as one of the most sustainable banks in the world, booked net profit of €35.2 million in the first six months of this year, compared with €18.8 million in the same period last year.

Total income reached €230.7 million, compared with €174.4 million in the first half of 2022. This was “driven by improved interest income after a long period of negative interest rates came to an end,” the bank said in a statement.  

Since summer 2022, the European central bank has raised its main refinancing rate nine times, from 0.5% to 4.5% – its highest ever level. The most recent increase was on August 2. 

Banks increase the interest they charge companies and consumers in line with the ECB rates and put up their rates for new mortgages.

However, the interest banks pay on savings has failed to keep pace, and is in most cases currently around 1.25% for easy-access accounts. 

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