Unity Trust Bank reports pre-tax profits of £5.2 million in first half of 2021

Unity Trust Bank has reported pre-tax profits of £5.2 million for the first six months of the year, up 65% on the same period in 2020.

Unity Trust Bank reports pre-tax profits of £5.2 million in first half of 2021

Margaret Willis, CEO of Unity Trust Bank

The bank has also reported an increase in total net lending of more than £68m in its half-year results.

Unity’s customer lending reached £677m during this period, which helped to house 1,225 people, create 334 jobs and provide 229-bed spaces.

Growing at more than 25% per annum, Unity supports SMEs and organisations that share its values in wanting to contribute to positive economic, social and environmental change. Unity has also seen significant growth across the healthcare sector during the past six months, particularly in pharmacy and dentistry.

Margaret Willis, CEO of Unity Trust Bank, said: “I am extremely proud that we have been able to support businesses that operate for the greater good and demonstrate how finance can have a positive impact on society.

“Access to funding is crucial for our customers and the communities and vulnerable people that they help.

“We recognise the role we play in addressing acute issues of inequality, which we anticipate will be increasingly prevalent as we emerge from the pandemic.”

She added: “The growth that Unity has achieved in the first six months of the year has meant we have continued to deliver impact across the UK, from Scotland to the South Coast.

“As we look to expand our reach further, Unity, our people and our customers, are committed to helping to create a better society for all.”

The bank is the latest UK lender to announce its half-year results. Earlier this week, HSBC announced profits before tax of $8.4bn in the first half of this year. Last week, NatWest Group posted operating profits before tax of £2.505 million while Bank of Scotland owner Lloyds Banking Group revealed a statutory profit before tax of £3.9 billion for the six months to the end of June. Barclays announced a profit before tax of £5bn, compared to the £1.3bn reported in 202 and Virgin Money, owner of Glasgow-based Clydesdale Bank, saw its underlying profit more than double year-on-year to £245m.

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