Many economists,the Govt and lots of business owners report how the banks are generally not helping the economy with it's negative policies on lending and especially towards SME (who make up over 50% of GDP). From observation over the past few days watching ''traditional investors'' comment negatively on sustainable opportunities in a group of small business owners - The news this morning gives me confidence that what seems a very backward approach and notion is somewhat reflected in the banking news today.
Lloyd's bank who had to be rescued by the British tax pay and is now 30%+ owned by us as a result of ... well that's too long a story for here - Is losing 500 million in write downs and so forth all to do with claims against them and so on.
On the other hand forward looking Triodas bank report - 16 per cent rise in lending to sustainable businesses and projects during 2012, along with substantial rises in profits and new customers. The bank grew its balance sheet by 23 per cent to €5.3bn last year, racking up net profits of €22.6m - a 31 per cent rise on 2011. Customer numbers also grew 23 per cent to more than 437,000, as the bank benefited from the flurry of bad publicity that afflicted its larger mainstream rivals.
Now that is interesting and inspiring - when will the ''penny drop'' with these traditional financiers..........