Unity Trust Bank half year results report £50m lending increase
Unity Trust Bank, the specialist commercial bank, has reported an increase in total net lending of more than £50m in its half year results.
With many businesses facing uncertainty following the outbreak of Covid-19, Unity has focused on supporting its customers, with a 10% increase in lending.
Despite the effect of the pandemic, pre-tax profits remained solid at £3.2m. The bank continues to deliver a positive impact to communities nationwide with net loans having grown in the first half of this year, from £478m to £528m. This lending has enabled businesses to make positive social and economic change including the creation of 409 jobs, 19 community facilities and 383 new bed spaces. Additionally, the bank has strengthened its impact reporting framework to align to the UN’s Sustainable Development Goals: www.unity.co.uk/impact-report/
To support small businesses access vital funding, Unity has provided £12.5m to accredited responsible finance providers of the government’s Coronavirus Business Interruption Loan Scheme (CBILS). Additionally, social housing, education and social sectors remain a priority with more tailored advice and lending solutions in healthcare, where the impact of the pandemic has been profound.
Unity Trust Bank’s strong commercial performance over recent years has provided a platform from which it can continue to deliver sustainable growth – even against a backdrop of economic uncertainty.
Margaret Willis, CEO of Unity Trust Bank, said:
“The six months to 30 June 2020 have been unprecedented socially, economically and emotionally, and our thoughts are with all those who have been affected by the virus.
“By remaining resilient and adapting our services to meet the changing business needs of our customers, I am extremely proud that we have been able to continue to support our customers during these challenging times.
“We are grateful to those customers who have directed routine enquiries through internet banking, this has released telephony capacity and enabled our customer service team to efficiently respond to those customers with more complex needs. Our team of relationship managers have continued to offer personal support, advice and tailored solutions for our borrowing customers.
“With a strong balance sheet, operational resilience and a history of safe, sustainable growth, we are well placed to continue to support our customers deliver positive change while also prioritising the well-being of our employees.”