Bank increases its commitment to organic farming

Specialist ethical lender Triodos Bank has increased its UK lending by almost 30% in the first half of 2009 to £305m.

The bank’s UK loan book grew 8% to £223m, with additional lending commitment of £82m.

Growth was greatest in its environmental team, which looks after a range of businesses, particularly those involved with renewable energy and on-shore wind power.

Lending to organic farming businesses was up 31% to £34m, despite the recession.

Overall, the bank’s food, farming and trade team increased business by 10%, taking total lending and commitments to over £55m in the first half of 2009.

For more on agricultural business see Phil Clarke’s business blog.