Bank increases lending
The Birmingham-based Unity Trust Bank has marked its 40th anniversary with an increase in net lending.
It rose to £1.03 million in the first six months of 2024 from £1.01m a year before.
Of the loans 40 per cent were allocated to organisations in areas of high deprivation and 57 per cent specifically supported disadvantaged or marginalised groups.
Pre-tax profit before tax grew to £37.2m, a 30 per cent increase from the previous six months.
Unity, which has is head office at Brindleyplace, has expanded its customer-facing teams and invested in digital services and operational areas including cyber resilience.
Colin Fyfe, chief executive at Unity Trust Bank, said: “This is an excellent half year performance as we continue to focus on what’s important to us as a bank – serving our customers.
“We have delivered safe growth in our balance sheet, social impact across the UK and established new service channels for our customers.
“Deposits have reached a record high of £1.7 billion enabling us to continue to support organisations that improve the lives of local communities. This means that when customers put their savings with us, they know those deposits will only be used to create a better society.
“We have also improved our customer services offering from both a human and digital perspective. We have expanded our UK-based call centre and our nationwide team of experienced relationship managers and have introduced a number of specialised roles to support specific sectors such as charities, local councils and trade unions.”
This year Unity was honoured with a King’s Award for Enterprise for sustainable development in recognition of its work supporting socially-minded customers and its own commitment to delivering responsible business practices.
To mark the bank’s 40th birthday, the employee-led Unity & Me programme pledged to donate £40,000 to good causes throughout 2024 and next month sees the launch of the new Unity Impact Grants Programme, giving customers the opportunity to apply for grant funding for community-enhancing projects.
Mr Fyfe added: “Our values are at the heart of everything we do at Unity. These awards, along with the bank’s charitable work, are testament to the inclusive, diverse and collaborative culture fostered at Unity Trust Bank.”
