Unity Trust Bank triples profits and amplifies its social impact in first year as an independent bank
Published: March 2, 2017 11:40 am
Established with a vision to create a bank that would serve the needs of its customers and enrich society as a whole, Unity Trust Bank has announced its first financial results since becoming fully independent in December 2015. The Bank has shown considerable progress, accelerating loan growth and posting an increase in underlying profit before tax of 288% on 2015.
The Bank has extended its lending by 26% with loan approvals increasing more than threefold. The Bank has ambitious growth plans and strong foundations to meet the challenges of the current marketplace.
Margaret Willis, CEO of Unity Trust Bank, said: “In December 2016 we celebrated our first anniversary as an independent bank. We have strengthened our position as a commercial bank with a social conscience and leveraged the Bank’s financial strength to deliver on our commitments to our customers. We measure our performance through a double bottom line strategy, assessing financial returns alongside social impact.”
Alongside its financial results, the Bank has released its 2016 social impact report. Over the past 12 months the Bank’s lending has helped create 1,895 jobs and supported the establishment of more than 1,000 bed spaces in care facilities. In addition, £6,542 has been raised for good causes and over £19,000 of volunteering time has been donated by Unity Trust Bank’s employees.
Margaret Willis added: “Social impact remains at the heart of everything we do. We continue to work with SMEs and socially minded organisations who share our values and philosophy and who aim to have a positive impact on society. We would like to thank all our customers and shareholders for their continued support and sharing in our determination to make positive and lasting change to the communities we collectively serve.”
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About Unity Trust Bank
Established in 1984, Unity Trust Bank is a specialist bank for SMEs and socially minded organisations that aim to have a positive social impact through community, economic or environmental change.
Independent since December 2015, the Bank’s purpose is clear: to help create a better society, by working with organisations that share our values and philosophy and believe in supporting the common good, not just maximising profit. This is all part of the Bank’s “double bottom line” philosophy.
The Bank’s commitment to delivering a positive social impact can be seen through its investment in customers, communities and staff.
Unity Trust Bank was one of the first Living Wage employers, is a Fair Tax Mark business and currently holds the Investors in People Gold standard. We support charities and communities through volunteering, education and fundraising.