Unity Trust Bank sees lending rise 16% to £836 million during 2022

Unity Trust Bank sees lending rise 16% to £836 million during 2022

Deborah Hazel

Unity Trust Bank has announced its annual results for 2022, with nearly half (43%) of new lending being made to organisations based in areas of high deprivation.

The financial strength of Unity was illustrated during 2022 with a further increase in lending, profitability and customers.

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

This financial strength enabled Unity to help even more organisations to deliver quantifiable 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.”

In 2022 Unity retained its carbon neutral status and as part of its own sustainability performance, included quantitative carbon emission and energy usage information in its annual report and accounts for the first time.

The bank’s employee-led Unity & Me initiative raised £34,565 for social causes and colleagues engaged in 198 volunteering days during work time. Unity also announced charitable partnerships with FareShare and The Prince’s Trust.

Ms Hazell added: “Our values will always be a core driver of why and how we work and I commend our customers, colleagues, shareholders and partners for helping to create a better society together.”

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