United Trust Bank increases lending by 48%


United Trust Bank increased lending by 48 per cent to £434m in the year ending 31 December.

The lender reported a 67 per cent increase in post-tax profits to £12.3m, while income rose 34 per cent to £31.6m.

Customer deposits grew 46 per cent to £476m.

UTB chief executive Graham Davin says: “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.”