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Triodos and Charity Bank on track for record lending

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by David Masters
Triodos and Charity Bank on track for record lending

Mid-year figures from Charity Bank and Triodos Bank show both lenders are on track for a record year of lending.

During the first six months of this year, Charity bank agreed £20.9 million of new loans. This is compared to a total of £22.9 million for the whole of 2009.

Figures from Triodos show new lending for the first six months of 2010 at £34 million, compared to £41 million of lending for the full year 2009.

Both banks restrict their lending to ethical enterprises and charities.

Malcolm Hayday, chief executive of Charity Bank, said the increase in loans reflects the difficulty charities and social enterprises are having in fundraising.

“Some of the organisations we have supported have come to us because their funding has been withdrawn,” he said.

“We will continue to maximise our support to enterprises that are making a real difference to the communities and people they serve.”

Tracy Axten, relationship manager at Triodos, said the ethical bank plans to continue supporting its clients through the recession.

“Against the background of deep cuts in public sector spending we want to continue to support our customers through difficult times,” she said.

Housing associations and healthcare groups were the biggest area of growth for Triodos.

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News posted: July 20, 2010

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