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Unity Trust Bank breaks £1bn asset barrier

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Unity Trust Bank breaks £1bn asset barrier

Published: October 3, 2017

Unity Trust Bank, a Birmingham based commercial bank, has broken the £1bn asset barrier.

Since becoming independent in 2015, the bank has grown significantly whilst maintaining its ‘Double Bottom Line’ strategy of only working with organisations that share its values and philosophy of creating social, economic, and environmental change.

All of the bank’s funding comes from customer accounts, and on 2 October 2017, the bank recorded £1bn in total assets, which is an increase of 13.85% since the end of 2016.

Margaret Willis, CEO of Unity Trust Bank, said: “In 2017 we have continued to build on the strong momentum established over the past 12 months, capital and liquidity remains strong, and we continue to attract new customers, primarily through recommendation.

Customer deposits continue to grow, allowing us to substantially increase the number of loan approvals: £158m of new loans to existing and new customers were approved in the first 9 months of the year, a record in Unity’s history.”