Unity Trust Bank has secured over £11m of new investment since the end of last year and reported that both profits and new lending were up by over 20%.
In its 2017 annual results, the commercial bank revealed that it had lent nearly £100m to firms and projects which will deliver community, economic or environmental benefits.
Birmingham-based Unity attracted over £11m of new investment from existing shareholders and new investor the Sustainability, Finance, Real Economies (SFRE) fund.
SFRE is an investment fund initiated by the Global Alliance for Banking on Values.
The investment will enable Unity to continue its growth plans.
It has also enabled the buy-back of the Co-operative Bank's remaining shares, meaning it is no longer a shareholder in Unity.
“Since becoming independent in December 2015, Unity has pursued its goal to lend responsibly to firms and organisations that share our mission to benefit society,” said Margaret Willis, CEO at Unity Trust Bank (pictured above).
“At Unity, this progress means more than just profit; the better we perform, the greater societal benefit we can have.
“It's very pleasing to see the appeal of 'banking with values'.
“We are grateful for the support of our shareholders and the faith placed in us by our customers.”
Alan Hughes, chairman at Unity, added that it was ambitious and energised by the encouragement of its existing shareholders Big Society Capital and the trade union movement.
“We're confident Margaret and her team can continue Unity's growth, tapping into the strong desire for a bank with integrity and a social conscience,” said Alan.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Specialist banks answer need for products that ‘reflect the reality of today’s society’
Better service and products are the main reasons why a broker would use a specialist bank, according to the latest poll by Specialist Banking...
Leeds Building Society cuts rate on retirement interest-only mortgage
Leeds Building Society has reduced its five-year fixed rate on its retirement interest-only mortgage...
60% of people want to know where their money is invested
Six out of 10 people (60%) want to know where their money is invested, according to the latest research published by Charity Bank...
Why commercial banks are in danger of being left behind
Harnessing a customer-first, technology-led approach, retail banks are paving the way with innovation...
Aldermore supports Quba Solutions with £10m facility
Aldermore has provided a £10m finance facility to Dorchester-based Quba Solutions...
TSB announces new SME banking leadership team
TSB has revealed its new SME banking leadership team as it prepares to launch its business banking proposition later this year...
Paragon Banking Group expects 25% BTL pipeline growth
Paragon Banking Group has announced that its BTL pipeline at 30th September 2018 is expected to be more than 25% higher than the level reported at the same time last year...
Development Bank of Wales moves into new Wrexham HQ
The Development Bank of Wales has opened its new headquarters in Wrexham at Yale Business Village...
Metro Bank announces opening date for Bristol store
Metro Bank has revealed the opening date for its first Bristol store...
Bremer Bank partners with automated lending platform
Bremer Bank has announced that it will be partnering with Numerated to launch an automated lending platform...
Crown Agents Bank appoints new NED
Crown Agents Bank has announced the appointment of Susanne Chishti (pictured above) to its board as a non-executive director...