Financial information

Our strategy is focused on the long term. We aim to build strong,
lasting relationships with our customers and broker partners and grow
sustainable and profitable businesses in underserved sectors of the
finance market

2023 Key Performance Indicators

Operating income
Operating profit 1
Cost income ratio 1
Gross new lending
Staff numbers
Loan book
Funding 2
Return on equity 3

1. Before provision for impairment losses

2. Includes the Term Funding Scheme with additional incentives for SMEs

3. Return on Equity is calculated net of the coupon paid on contingent convertible securities

“Despite a challenging economic context, the results for the year have once again demonstrated, the strength of United Trust Bank’s (“UTB”, “the Bank”) business model. UTB has remained agile and resilient and has made further progress on its strategic priorities, resulting in outstanding performance for 2023. The Bank has grown significantly and achieved a number of key milestones with profits before tax increasing by 38% to £82.7m and the loan book now exceeding £3bn for the first time. This is as a result of the Bank’s long-term strategic focus on the sectors in which it operates, maintaining loan book quality and continued investment in people and technology.”

Richard Murley – Chair

Business Overview

UTB operates within the UK and its primary activity is the provision of a range of secured funding facilities for individuals and businesses and fixed and notice deposit accounts for individuals, businesses and charities.

The Bank provides short to medium-term property loans supporting SME housebuilders in the development of residential and residential led mixed use housing schemes, bridging and structured finance facilities for individuals, companies and property investors and regulated first and second charge mortgage products.

UTB also provides UK SMEs with a variety of funding options for the acquisition and refinance of assets including wheeled and tracked vehicles and plant, haulage tractors and trailers, CNC machinery and high value and classic cars. All UTB’s lending is funded by the Bank’s capital base and deposits.

Pillar 3 disclosure

The purpose of the Pillar 3 document is to provide information and disclosure to the Bank’s stakeholders in relation to the internal procedures and policies adopted by the Bank to manage and mitigate its key risks.

Download the 2023 Pillar 3 Disclosure >