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Unity Trust Bank announces increased capital and social impact

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Unity Trust Bank announces increased capital and social impact

Published: August 1, 2018

Unity Trust Bank, a commercial bank with a social conscience, today announced its half year results for 2018, posting an underlying pre-tax profit increase of £0.9 million compared to H1 2017. This is offset by exceptional costs incurred within the period of £0.6 million, related to exiting the current pension scheme and establishing Unity’s own scheme.

The bank has achieved record levels of lending to organisations and businesses that share its mission of creating a better society, increasing its lending by 27% on the same period last year, with loan approvals of £54 million. This lending transpires into positive social impact, creating and protecting 533 jobs, housing 106 people and creating and renovating 153 bed spaces.

On 5 April 2018 the bank raised over £11 million of capital from new and existing investors which will support continued growth; enabling Unity to advance their social and environmental goals. Customer deposits exceeded the £1 billion mark for the first time, during the period, demonstrating customers’ appreciation of, and alignment with the bank’s purpose and values. Customer acquisition continues through recommendation.

Unity has been ranked number one for customer service in the Charity Finance Survey 2018: and was also shortlisted for Employer of the Year for the Women in Finance awards.

Margaret Willis, CEO of Unity Trust Bank said: “Unity has achieved responsible growth in line with our plans to support socially responsible organisations who share our values, as well as deliver sustainable returns for our shareholders. We are proud to have been ranked so highly by our customers as we continue to keep them at the forefront of everything we do, and look forward to maintaining this beyond 2018.”