Unity Trust Bank has announced its 2017 annual results 鈥 with profits and new lending up by over 20 per cent.
Unity, based in Brindleyplace, Birmingham, operates as a commercial bank for firms and organisations which want to help create a better society and not just maximise profit.
It lent nearly 拢100m to businesses and projects that will deliver community, economic or environmental benefits last year.
In addition Unity has attracted over 拢11 million of new investment from existing shareholders and a new investor: the Sustainability, Finance, Real Economies (SFRE) fund.
The investment helped Unity to buy bank remaining shares from The Co-operative Bank, meaning it is no longer a shareholder.
Margaret Willis, CEO of Unity Trust Bank said: 鈥淪ince becoming independent in December 2015, Unity has pursued its goal to lend responsibly to firms and organisations that share our mission to benefit society.
鈥淎t Unity, this progress means more than just profit; the better we perform, the greater societal benefit we can have. It鈥檚 very pleasing to see the appeal of 鈥榖anking with values鈥. We are grateful for the support of our shareholders and the faith placed in us by our customers.鈥
Alan Hughes, Unity鈥檚 Chairman, said: 鈥淲e are ambitious and energised by the encouragement of our existing shareholders 鈥 Big Society Capital and the Trade Union movement, who have participated in this capital raise and delighted to welcome SFRE as a new investor who shares so closely Unity鈥檚 vision and 鈥榙ouble bottom-line鈥 philosophy.
鈥淲e鈥檙e confident Margaret and her team can continue Unity鈥檚 growth, tapping into the strong desire for a bank with integrity and a social conscience."
The SFRE Fund was launched in March 2015 by the Global Alliance for Banking on Values, a network of banking leaders from around the world committed to advancing positive change in the banking sector.
Justina Alders-Sheya, Fund Manager of the SFRE Fund: 鈥淭his investment allows us to consolidate SFRE鈥檚 position in developed markets and to further align the fund鈥檚 portfolio between emerging and developed markets.
鈥淲e are excited to add this investment to our portfolio in light of the perfect mission alignment between Unity and SFRE. We look forward to work with Unity鈥檚 excellent management team.鈥
