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UTB reports 21 per cent increase in gross lending

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  • 17/03/2020
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UTB reports 21 per cent increase in gross lending
United Trust Bank (UTB) advanced £994m in gross lending for 2019, a 21 per cent increase on completions the year before.

 

Operating income for the year was £64.9m and the bank’s loan book increased to £1.24bn. Furthermore, operating profit reached £32.7m for the 12 months to 31 December 2019. 

United Trust Bank chief executive, Graham Davin, said almost reaching £1bn in new lending was an “extraordinary performance” amid the political and economic uncertainty. He also said he expected the bank to surpass that figure in 2020. 

Davin (pictured) added: “2019 was complex from a profitability perspective as our investment in additional people and systems and costs of higher liquidity and risk offset the headline 20 per cent growth in new business and loans.  

“Nonetheless the bank begins 2020 highly profitable, well capitalised and liquid and is currently writing record levels of new business.” 

 

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Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors. Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies. This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector. She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021. In her spare time, Shekina likes to read, travel, listen to music and socialise with friends. She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content. Follow her on Twitter at @ShekinaMS

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