The Dutch Banking Code ('the Banking Code') came into force as of 1 January 2010 and has been revised in 2014. The Banking Code is part of a package of developments for the banking industry introduced by the Dutch Bankers' Association (NVB). The package also includes a Social Charter and rules of conduct associated with the Dutch bankers' oath.
The Banking Code puts the interests of the customer at the heart of a bank's activity, which ties in fully with Triodos Bank's vision and Business Principles. Our Business Principles are an important framework for the way in which we do business, and serve as the guiding principles for our co-workers in their day-to-day decision-making processes
We comply with the principles of the Banking Code. In the full comply-or-explain matrix, we elaborate on how Triodos Bank applies the principles and best practices of the Code.
A few of the main themes of the Banking Code and the way we address them are:
Customer Focus
The funds entrusted to Triodos Bank by its customers are lent to businesses and organisations whose aim is to create a more sustainable society (a comprehensive list is available here). We ensure full transparency in respect of this policy. We are convinced that the key to successful banking lies in maintaining long term relationships with borrowing and savings customers.
Banker's Oath
We believe that handling money implies special responsibilities of all co-workers. So Triodos Bank fully supports the Banking Code's recommendation to explicitly formulate these responsibilities.
All members of the Supervisory Board and the Executive Board of Triodos Bank and all its co-workers in The Netherlands have taken the oath, confirming the rules of conduct individually. By taking the oath Triodos Bank makes more explicit what the bank already does.
Remuneration
We operate a remuneration policy that reflects the principles of the Banking In our view remuneration should enable co-workers to earn a decent living and to contribute to the organisation and society at large. Triodos Bank believes in the intrinsic motivation of its co-workers to contribute to our mission and to work according to our corporate values. The individual richness of the contribution of each co-worker cannot be translated into a linear, financial incentive. Triodos Bank chooses not to have (variable) remuneration based on predetermined financial targets or achievements, as these can enhance a culture of taking more risk.
For more information see downloads below and link to the Annual Report.
