United Trust Bank reports significant growth in pre-tax profits to £26.4m

United Trust Bank reports significant growth in pre-tax profits to £26.4m

United Trust Bank (UTB) has reported a 27% increase in profits before tax to £26.4m for the year ending 31st December 2017.


The results reflect another year of strong growth in lending and deposits during which the specialist bank exceeded £1billion of assets for the first time.


2017 highlights include:

  • Profits before tax increased by 27% to £26.4m
  • Return on Average Equity was 27%
  • Lending to customers grew by 40%
  • Customer deposits grew by 31%
  • Gross Income increased by 20%

UTB is an expanding specialist bank providing a wide range of secured lending facilities to individuals and businesses, and deposit accounts for individuals, businesses and charities.


In October 2017 the Bank signed a ground-breaking agreement with the British Business Bank for a product known as the Enable Guarantee which will allow UTB to significantly increase its lending to SME house builders.


UTB also increased market share in the second charge mortgage sector becoming a top three lender of secured loans within 2 years of launching and winning three ‘Best Provider’ industry awards in 2017 alone. The new Structured Finance division, formed in 2016 to provide bespoke solutions to clients with more complex corporate structures or requirements, doubled in size over the course of the year and also exceeded its targets for new business volumes and income. The development finance, bridging finance and asset finance businesses also continued to perform very well.


United Trust Bank Chief Executive Officer, Graham Davin, commented:


“United Trust Bank delivered another strong performance in 2017 and I am delighted to report an excellent set of results. Our significant growth in lending and deposits enabled us to exceed £1billion of total assets for the first time which marked an exciting milestone in the Bank’s evolution. The key measure of Return on Average Equity also remains class leading at 27%.


“The momentum we have gathered over the last few years has continued and the markets in which we operate support our products while customers welcome the level of service we provide. The sustained organic growth of the Bank is particularly pleasing, given it was achieved in a fluid trading environment.


“Although we expect the Bank to be largely insulated from the direct effects of Brexit, the next 12 months are bound to produce challenges and opportunities. I have every confidence that our talented and dedicated staff will meet both with enthusiasm and drive, and on behalf of the shareholders and directors, I would like to thank them for their vital contribution to the Bank’s success.”


United Trust Bank’s Annual Report and Accounts for the period ending 31st December 2017 have now been published and placed on UTB’s website at:



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