Net lending increased to £1,032m in the first six months of 2024, compared with the six months leading to December 2023 (£1,013m).
Meanwhile, the bank also reported a 30% growth in profit before tax for H1, rising to £37.2m.
According to Unity Trust bank, 40% of loans allocated were to organisations in areas of high deprivation, with 57% specifically supporting disadvantaged or marginalised groups and 59% going to local level organisations.
The firm also provided it’s the first tranche of financing through its Housing Association Decarbonisation Initiative (HADI) — ringfenced funding aimed at supporting housing associations to improve the energy efficiency of UK affordable homes.
- B&C Awards 2024: The Video
- Unity Trust Bank pledges increased support for social causes after hitting £1bn of lending
- Unity Trust Bank lends over £1bn in 2023 allocating almost half to deprived areas
Commenting on the results, Colin Fyfe, CEO at Unity Trust Bank (pictured above), 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 £1.7bn enabling us to continue to support organisations that improve the lives of local communities.
“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.”
Leave a comment