Bank doubles pre-tax profit

Unity Trust Bank said 2022 continued to illustrate its financial strength with a further increase in lending, profitability and customers.

Overall lending rose by 16% to £836.6m (2021: £723.5m), while profit before tax more than doubled to £27.4m (2021: £11.1m), increasing the CET1 capital ratio to 18.3%.

It said this financial strength enabled it to help even more organisations to deliver an impact in the communities they serve; the bank’s funding created or renovated 890 bed spaces in healthcare and 846 day care spaces across early education and specialist education, provided 493 households with affordable homes or care services and supported 476 new jobs.

Deborah Hazell, CEO at Unity Trust Bank, said: “I am delighted with the performance of the bank and immensely proud of the level of impact that Unity has achieved during 2022. Unity continues to go from strength to strength and we will continue to drive social impact in the UK through safe lending growth.

“Our financial sustainability enables us to consistently deliver against our values of being a bank with a social conscience.”