Bank increases lending by £50m

Margaret Willis

Unity Trust Bank, which positions itself as the commercial bank for firms with a social benefit, has reported an increase in total net lending of more than £50m in its half year results.

Unity, based in Brindleyplace, Birmingham, said that with many businesses facing uncertainty following the outbreak of Covid-19, it 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 said net loans grew in the first half of this year, from £478m to £528m, enabling businesses to create 409 jobs, 19 community facilities and 383 new bed spaces.

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).

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.”

Click here to sign up to receive our new South West business news...
Close