06 March 2017
Madrid Headquarters
The Director General of Triodos Bank, Mikel García-Prieto, was the speaker for the March luncheon. This regularly held event is linked to the joint entrepreneurship and innovation programmes taught by Deusto Business School and ICADE Business School.
García Prieto, with a background in engineering, has worked with Triodos Bank since it was founded in Spain. He explained the ethical banking model that it is distinctive for. He also stressed the three- pronged mission of the bank he leads in Spain. It is based on contributing to a society which fosters quality of life and centres on human dignity; prompting people, business and organisations to use money responsibly and by doing so, promote sustainable development and provide its customers with sustainable financial products and high quality service.
He explained that the bank was originally Dutch and is now operating in the Netherlands, Belgium, the United Kingdom, Germany and Spain. Of its approximately 700,000 customers, 225,000 are in Spain, accounting for a third of the banking group's balance.
During the talk, moderated by Iñaki Ortega, Director of Deusto Business School Madrid, García Prieto emphasised the bank's commitment to transparency. He explained the difference in comparison to other financial entities that adopt corporate social responsibility. “Banks can have a social impact through CSR or the very essence of the business. And that is our case; it is at the very core of the business", he stated.
As per the bank’s operations, the Director General stated that they strive to strike a balance between social and environmental returns and economic profitability. Savers’ and investors’ money is used as loans to companies and real economy projects in sustainable sectors related to social, cultural and environmental areas. He pointed out that investments mainly focus on sectors related to ecological agriculture, sustainable construction, support for people with disabilities or groups at risk of social exclusion, education or cultural activities, etc. As this top executive explained, these are economically feasible initiatives that include added social value.
Mikel García Prieto stated that the twenty Triodos Bank offices in Spain will soon add another in Vigo with a view to having 35 to 40 offices in the medium term. He also highlighted the upcoming launch of investment funds in Spain that were not previously offered. These funds will be based on socially responsible investment criteria.
