Triodos Bank profit up over a third with 15% more customers

Triodos bank saw a massive profit increase of 35 percent last year. The bank's clients increased by 15 percent, which means it had to put less money aside for bad loans, ANP reports. The bank, which promotes sustainable and transparent banking, made 40.7 million euros in net profit last year. The number of clients increased to 607 thousand. Triodos Investment Funds and Triodos Private Banking grew by 16 percent to 12.3 billion euros. For this year the bank expects a decline in profits, mainly due to compulsory contributions to deposit guarantee schemes. The low interest margins and "substantial investment" in its own organization will also put 2016's results under pressure.