United Trust Bank (UTB) has reported a 67% increase in profits after tax to £12.3m for the year ending the 31st December 2015.
The UK challenger bank increased lending by 48% to £434m, operating income rose 34% to £31.6m and customer deposits grew by 46% to £476m. Return on equity was an impressive 32%.
UTB offers asset finance, bridging finance, development finance, professional loans, technology finance and specialised mortgages.
United Trust Bank chief executive officer, Graham Davin, said: "We recorded significant growth in lending, deposits, income and profits, with all reaching milestone levels, and we continued to invest in talented people and new product development.
"Completing a move to new headquarters in the City of London gave us much needed extra space for additional staff and we successfully raised new capital to support UTB’s future growth.
"In the last 12 months we have also made senior appointments in finance, credit and risk which allows us to maintain and manage our growth trajectory in 2016 and beyond.
