Unity Bank loans break £400m milestone

Unity Bank is celebrating a lending milestone as it targets growth in the Scottish market, highlighting the country as a key region for development.

Loan balances at the Birmingham-basedlender,which describes itself as a “commercial bank with a social conscience”, have exceeded £400 million, as it eyes further business north of the Border.

This comes in the same month in which the bank announced a 68 per cent increase in profit and confirmed it has approved more than £200m of lending to firms and projects that seek to deliver community, economic or environmental benefits.

Unity’s presence in Scotland has now grown to include 13 per cent of its total borrowers, with the bank setting its sights on a greater market share following the appointment of relationship manager Scott Hutchinson, who joined in January after 18 years with Santander UK.

Hutchinson’s role is in addition to existing relationship manager Mark Smith, who has previously held business development roles in Scotland for Allied Irish Bank, Nationwide Commercial, and Barclays during his 35-year career.

Chief executive Margaret Willis said: “Since becoming independent in 2015, we have seen our lending and profitability more than double.

“Increasingly organisations and businesses are looking for an ethical bank that shares their values.

“Our performance shows that profit and community value go hand in hand. The better we perform, the greater societal impact we can have.” 0 Margaret Willis, chief executive at Unity Bank