Profits up 68% at commercial bank

Unity Trust, the commercial bank for firms and organisations that want to help create a better society, increased its profits 68% in 2018. 

Unity approved over £200 million of lending to firms and projects that will deliver community, economic or environmental benefits.  This is a record-breaking performance for Unity which has seen its lending almost double since it became independent in 2015.

Chief executive Margaret Willis said: “Unity’s results confirm that profits and community value go hand in hand. It’s best for our shareholders, our customers, our employees and society. Unity’s growth shows businesses want an ethical alternative, a bank that shares their values” she added.

Unity, based in Brindleyplace, Birmingham attracted new capital in 2018 from existing shareholders and a new investor ‘Sustainability, Finance, Real Economies’ (SFRE). The investment will enable Unity to advance its growth plans.

“Sustainable earnings and sustainable communities are one and the same in the long run” said Alan Hughes, Unity’s chairman.

“This strong performance reflects the role banking can and should play in building a more sustainable world. Everyone at Unity is determined to deliver more and more of this” he added.