Triodos Bank (TRIO) investor relations material

Executive summary

• Net profit rose to EUR 29.9 million in H1 2026, reversing prior year losses from one-off provisions and reflecting improved profitability and operational efficiency.

• Annualised return on equity increased to 5.0% from 2.7% year-over-year, supported by higher net interest income and margin improvements.

• Transformation initiatives, including the Fit for Impact program and German business wind-down, are progressing as planned.

• Maintained leadership in sustainability, ranking first in Dutch and Belgian benchmarks.

Financial highlights

• Total income increased by 4% to EUR 228.4 million, mainly due to higher net interest income and a net interest margin of 1.98%.

• Operating expenses declined by 3% to EUR 182.1 million, reflecting the absence of prior year provisions.

• Cost-to-income ratio improved to 80% from 86% in H1 2025.

• Interim dividend of EUR 1.05 per Depository Receipt declared, representing 50% of net profit.

• CET1 ratio at 17.3% and total capital ratio at 21%, both above regulatory requirements.

Outlook and guidance

• Income growth and further reduction in operating expenses expected for 2026.

• Fit for Impact program targets a cost-to-income ratio of 70-75% and ROE of 5-7% by end of 2028, with EUR 25-30 million in annual cost savings.

• First efficiency benefits anticipated in H2 2026.

• German business wind-down on track for completion by end-2027.