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Opinion
thursday 17 october 2024
Automatically translated from Basque, translation may contain errors. More information here. 
Triodos Bank must repay a woman, by court order, the investment made
- The Court of First Instance No. 1 of Pamplona gives the reason to a customer of Triodos Bank, forcing the financial institution to return the money invested by it in the stock deposits of the bank (CDA), for a total amount of EUR 45,070.
Argazkia: Triodos Argazkia: Triodos
The woman who filed the lawsuit against Triodos bought these complex actions twice in 2019 and 2020, and the judge considers that the bank did not provide her with the necessary information. According to the judgment, the bank had to do so, because this type of product is very complex and people do not know it.
According to the judge, the bank sold these actions as a safe product, but it was not. The product was sold on the bank’s internal market and collapsed because at one point the purchasers wanted to convert their stocks into money, but there were no buyers of those stocks.
Now Triodos has to repay the woman the money invested, with interest, and the expenses generated in the judicial procedure. The ruling is not yet firm and Triodos will appeal, but it is a dangerous precedent for the bank because in Spain there are about 14,000 customers in the same case. Triodos is known for acting mainly in the field of ethical banking among citizens.
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