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Unity Trust Bank has said it plans to continue its growth this year

Social bank Unity Trust has announced it increased its profits by 68% in 2018.

Unity approved over £200 million of lending to firms and projects that will deliver community, economic or environmental benefits. This is a record-breaking performance for Unity which has seen its lending almost double since it became independent in 2015.

Margaret Willis, Unity Bank chief executive, said: “Unity’s results confirm that profits and community value go hand in hand. It’s best for our shareholders, our customers, our employees and society.

“Unity’s growth shows businesses want an ethical alternative, a bank that shares their values."

Unity is based in Brindleyplace, Birmingham attracted new capital in 2018 from existing shareholders and a new investor. The investment will enable Unity to advance its growth plans.

“Sustainable earnings and sustainable communities are one and the same in the long run” said Alan Hughes, Unity’s chairman.

“This strong performance reflects the role banking can and should play in building a more sustainable world.

“Everyone at Unity is determined to deliver more and more of this” he added.