Ethical Lender Reports Record Business Lending Figures

Thu, 25 Nov 2010

Triodos Bank, a global leader in ethical and sustainable finance, has announced that its UK lending has surpassed the £300 million mark.

The bank, which only finances businesses that deliver social, environmental or cultural benefits, reported that its UK lending grew by 20 per cent (£50m) in the first three quarters of 2010, with business loans being provided to customers across a range of sectors.

After breaking through the £300m lending barrier, Tridos said it now expects to reach half a billion pounds of lending and commitments by early next year.

Commenting on the record figures, Dr Bevis Watts, head of business banking at Triodos, said: "At a time when mainstream banks are still being challenged to increase their lending to businesses, the Triodos banking model means that our lending growth is supporting real social and environmental change."

"As a result we are continually investing to develop our team and ensure we have the right infrastructure and resources in place to support this burgeoning growth."

He added: "Against the background of deep cuts in public sector spending revealed in the recent Spending Review we want to continue to support our customers through difficult times and find innovative new ways of financing social and environmental projects."
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