United Trust Bank increases lending by 48%
United Trust Bank has reported a 67% increase in profits after tax to £12.3m and a lending increase of 48% to £434m in 2015.
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In its full year results, the Bank also reported a rise in operating income to £31.6m and customer deposits by 46% to £476m.
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."
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