Triodos Bank has kidnapped the savings of people lik...
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Triodos Bank has kidnapped the savings of people like me who were conned into loaning them money to “invest” in Depository Recepits. After a period of two years when Triodos denied holders of DRs the opportunity to sell their investment, they created the most ludicrously over-complicated trading system. As soon as the trading system was launched the value of my holding dropped by over 60%. Triodos has made no comment at all to DR holders to explain this. I thought I was invested in a sustainable ethical bank. Beware!
Reviewed on: 25th March 2024
Triodos Bank attracted investment in the bank from individuals using an instrument known as Depository Receipts. I still hold mine from over a decade ago. Two or three years ago DR investors were told that the option to sell DRs back to the bank was ending. After a long hiatus we then heard that the intended open market for trading DRs was ready and we had to go through the most intrusive and excessive identification process to participate. Having done that, I saw the valuation of my DRs drop by over 50% in a couple of months. Triodos Bank has not had the wit or courtesy to write to investors to explain why our holdings have plummeted in value. They have abused the loyalty of long term investors in their bank. If they manage their clients funds like they have managed the DRs I can’t see how they they have any clients.
Reviewed on: 23rd February 2024
