Bank reports record year of lending as CEO hails ‘resilient team’

Birmingham-based Unity Trust bank has reported a record rise in net lending as its chief executive hailed her team after what she called a “particularly challenging year”.

Unity Trust Bank’s pre-tax profits dipped to £7.5m in 2020, down from £9.1m in 2019.

But it also reported a record rise in net lending of 26% and in customer deposits of 29%.

The bank increased lending to responsible finance intermediaries by 185%, enabling the distribution of £16.9m to 250 businesses across the UK.

£185m of new lending supported 712 jobs, the building or renovation of 722 bed spaces, and provided 1,327 people with housing.

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 12 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.”