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|United Trust Bank increases profits after tax by 67% to £12.3m|
|Tuesday, 15 March 2016|
United Trust Bank (UTB) has reported a 67% increase in profits after tax to £12.3m for the year ending the 31st December 2015.
The specialist bank increased lending by 48% to £434m, operating income rose 34% to £31.6m and customer deposits grew by 46% to £476m. Return on equity was an impressive 32%.
United Trust Bank is an expanding specialist bank providing a wide range of secured funding facilities for individuals and businesses, and deposit accounts for individuals, businesses and charities.
With dedicated divisions providing asset finance, bridging finance, development finance, professional loans, technology finance and specialised mortgages, the Bank’s in-depth knowledge combined with commercial awareness makes it the lender of choice for finance brokers, developers and individuals seeking a high quality bespoke service.
During 2015 UTB saw growth in lending across all of its divisions and launched a retail mortgage proposition, offering second charge secured loans, and an innovative technology finance product.
United Trust Bank Chief Executive Officer, Graham Davin, commented: “2015 was yet another outstanding year for United Trust Bank. We recorded significant growth in lending, deposits, income and profits, with all reaching milestone levels, and we continued to invest in talented people and new product development.
“Completing a move to new headquarters in the City of London gave us much needed extra space for additional staff and we successfully raised new capital to support UTB’s future growth.
“In the last 12 months we have also made senior appointments in finance, credit and risk which allows us to maintain and manage our growth trajectory in 2016 and beyond.
“United Trust Bank is guided by a talented management team and driven by its dedicated staff. Their energy and the support of our customers and broker partners has enabled the Bank to achieve these excellent results.”
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