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Bank boosts social housing loan book to nearly £200m

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Bank boosts social housing loan book to nearly £200m

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Published by 24publishing for 24dash.com in Housing and also in Communities, Local Government

Bank boosts social housing loan book to nearly £200m Bank boosts social housing loan book to nearly £200m

Last week ethical bank Triodos announced record annual growth for 2011, with a 36% increase in its UK loan book. The rise, it said, was notably thanks to an increase in social housing lending.

Its total committed loan book for the sector now stands at nearly £200 million.

Here, Neil Hewitt (pictured), social & cultural team manager at Triodos, talks about its record lending results for 2011 and the bank's plans to enable this lending to continue in 2012 and beyond.

"The news that Triodos achieved annual record growth in 2011, with social housing being one of the key areas of lending, can only be perceived as positive - demand from a growing social housing sector is being met by one of the UK's leading ethical banks, enabling us to build on our social mission and extend our services across the UK.

"Over the last three years, Triodos Bank's involvement in the social housing market has expanded significantly. Our total committed loan book for this sector currently now stands at £190 million, and our lending is spread across a wide range of registered social housing providers - from Circle in East Anglia to Cornwall Rural Housing Association. As a result we are actively managing the pipeline of current business to ensure that we continue to deliver the highest standard of service for our existing commitments.

"By promoting a "more conscious use of money", Triodos is challenging its social housing customers to use its reserves at transactional banking business as a means of supporting the bank and its work within the sector. This represents a more holistic approach to banking from Triodos, who have always encouraged businesses to think about the potential impact that their money could have within the community, as well as the positive outcomes that stem directly from their work.

"We believe the social housing sector has a very positive outlook and will continue to be an important part of our business objective of supporting and developing sustainable local communities across the UK."

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