Unity Trust Bank’s record lending supports some of the UK’s most deprived areas
Unity Trust Bank has reported a record level of lending in its half-year results – exceeding £900m for the first time in its history and growing 9% from last year.
With a continued commitment to create a better society through safe growth, 37% of Unity’s financing in the first six months of 2023 went into areas of high deprivation.
81% of these loans were allocated to local businesses delivering impact in their communities, and 15% to organisations creating solutions that specifically help disadvantaged or marginalised people.
Supporting lending customers through a period of financial uncertainty has also been a key focus for Unity, with each receiving dedicated assistance from a relationship manager who understands their organisations and their needs.
Profit before tax increased to £28.7m (30 June 2022: £9.6m), and Unity has reinvested into the growth of the bank through recruitment and new technology to enhance customer experiences, improve services and bolster operational resilience.
Deborah Hazell, CEO at Unity Trust Bank, said: “Our purpose, as a bank with a social conscience, is to provide excellent banking services to organisations that contribute to the common good and deliver sustainable returns.
“Unity continues to thrive through this purpose and we’re proud of the positive social impact we support in local communities across the UK through our carefully considered approach to lending.
“Our excellent first half performance, with a return on equity of 32.9%, demonstrates that it is possible to both contribute positively to society and be financially strong.”
As an award-winning commercial bank that celebrates its 40th anniversary next year, Unity was the first UK bank to become a Real Living Wage employer in 2013 and the first to be accredited with the Fair Tax Mark.
With offices in Birmingham, London and Manchester, Unity is also a Disability Confident employer, a member of the Banking Standards Board, holder of the Investors in People Gold standard, a member of the Global Alliance for Banking on Values and a signatory to the Partnerships for Carbon Accounting Financials (PCAF).