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Unity Trust Bank grows customer funds to £1bn

Alex Lynn | 12:30 Tuesday 8th May 2018

Unity Trust Bank has recorded £1bn in customer funds.

The Birmingham-based commercial bank – which became independent in 2015 – registered a 5% increase year-on-year in total assets to £1bn on 1st May 2018.

“Record deposits have enabled us to deliver [a] record number of loan approvals,” said Margaret Willis, CEO at Unity Trust Bank.

“We do not rely on wholesale funding; our customers entrust their money to us and we use that to help organisations to prosper and deliver positive social impact.

“Growth in customer deposits helps fund the increasing number of loan approvals: £65m of new loans to existing and new customers were approved in the first three months of the year and at the end of 18th March, the bank's loan portfolio exceeded £300m for the first time in its 34-year history.”

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