Ethical bankers announce further growth despite uncertain economy.
Unity Trust Bank has announced its annual results, including a record rise in net lending (+26%) and customer deposits (+29%).
Against a backdrop of historically low interest rates and economic uncertainty, Unity has maintained its track record of safe and sustainable growth, delivering a strong set of results with pre-tax profits at £7.5million and a 7% growth in new customers.
By continuing to drive an impact-led strategy, the bank increased lending to Responsible Finance Intermediaries by 185%, enabling the distribution of £16.9million to 250 businesses across the UK. £185million of new lending supported 712 jobs, the building or renovation of 722 bed spaces, and provided 1,327 people with housing; a material increase on 2019.
Colleagues across the business engaged in 148 volunteering days, and the employee-led ‘Unity in the Community’ initiative supported charities and grass-roots organisations with donations amounting to £13,500. This included the purchase of subscriptions for The Big Issue for each of Unity’s employees at the onset of the pandemic.
Margaret Willis, CEO of Unity Trust Bank, said: “2020 was a particularly challenging year, socially, economically and emotionally. We remained fully operational throughout and worked hard to support our customers as they navigated the far-reaching implications of the pandemic.
“I am incredibly proud of the hard work, commitment and resilience our people have demonstrated, and the care and kindness they have shown for each other over the last twelve months. I continue to be personally challenged by the human cost of this pandemic and my heart goes out to all those who have been affected by the virus.”
Unity has Commercial offices in Birmingham, Manchester and London and was named Socially Responsible Lender of the Year in 2020 by the NACFB. The bank is a Real Living Wage and Disability Confident employer, a member of the Banking Standards Board, holds the Investors in People Gold standard and Bronze Standard Carbon Literacy accreditation.
To read the 2020 impact report in full and learn more about Unity’s commitment to the UN’s Sustainable Development Goals, visit Unity.