Triodos opts for Edinburgh as loans surge

DUTCH bank Triodos will today unveil a 36 per cent increase in the value of its UK loan book to £424 million after choosing Edinburgh as the location for its first high street branch.

The firm – which styles itself as an “ethical” bank, only lending money to “enterprises that create social, environmental or cultural added value” – selected the city after strong demand for its savings accounts north of the Border. Bevis Watts, head of business bank at Triodos, said: “These results are very exciting and mean we’re already two years ahead of our previous business plan targets.

“We expect our lending to grow by at least a further 20 per cent in 2012.”

The bank’s busiest growth areas were renewable energy and social housing.

Other areas of its loan book that enjoyed significant growth included a 150 per cent increase in its lending to the education sector and 30 per cent growth in healthcare. Loans to arts and cultural projects grew by 22 per cent and lending to organic farms was up by 11 per cent.

Sleat Community Trust on Skye borrowed money from the bank to buy Tormore forest. South of the Border, Tablehurst Farm – an organic community farming co-operative in East Sussex – used a loan to install solar panels provided by another Triodos customer, Southern Solar.