Notes to the balance sheet
and the profit and loss account

Consolidation principles

The financial data for Triodos Bank NV and group companies have been fully consolidated. The financial data for joint ventures have been consolidated pro rata to the participating interest held, if consolidation is necessary in order to provide a transparent overview of the assets and result of Triodos Bank NV.

Statement of equity participations in accordance with Sections 2:379 and 2:414 of The Netherlands Civil Code:

  • Kantoor Buitenzorg BV in Zeist, participating interest 100%, group company, fully consolidated;
  • Kantoor Nieuweroord BV in Zeist, participating interest 100%, group company, fully consolidated;
  • Stichting Triodos Beleggersgiro in Zeist, participating interest 100%, group company, fully consolidated;
  • Triodos Assurantiën BV in Zeist, participating interest 100%, group company, fully consolidated;
  • Triodos Cultuurbank BV in Zeist, participating interest 100%, group company, fully consolidated;
  • Triodos Custody BV in Zeist, participating interest 100%, group company, fully consolidated; Triodos Finanz GmbH in Frankfurt am Main, participating interest 100%, group company, fully consolidated;
  • Triodos Investment Management BV in Zeist, participating interest 100%, group company, fully consolidated;
  • Triodos MeesPierson Sustainable Investment Management BV in Zeist, participating interest 50%, joint venture with joint control, consolidated pro rata to the participating interest held;
  • Triodos Nieuwbouw BV in Zeist, participating interest 100%, group company, fully consolidated.

Principles for valuation and the determination of the result

Triodos Bank has prepared the half-year report based on a consistent use of the principles for valuation and the determination of the result. Triodos Bank has implemented the changes in the Dutch guidelines for reporting which became mandatory in 2012. As a result of the new guideline for the valuation of forward foreign currency contracts Triodos Bank has implemented cost hedge accounting. The impact of these changes on the valuation and determination of the result in relation to the comparable period of 2011 is not material.

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