"The Bank maintained its operations and remained open for business throughout the lockdowns with all business lines continuing to grow."
UTB's loan book totalled £1.6bn at year end, with totalled assets reaching £1.9bn.
The Bank also continued to recruit staff throughout 2020, welcoming 42 new team members during the year with the majority of them being recruited and trained remotely.
Harley Kagan, CEO of United Trust Bank, commented: “2020 was a year like no other and despite the extraordinary challenges presented by the Covid-19 pandemic, United Trust Bank showed its resilience and delivered a strong set of results.
“The Bank has continued to invest in business transformation and digitisation projects and introduced many new digital means of interacting with customers and brokers during the year, including the launch of full-service online banking for deposit customers. By successfully transitioning to remote working and adopting and implementing innovative technology the Bank maintained its operations and remained open for business throughout the lockdowns with all business lines continuing to grow.
“The board and management team are immensely grateful to our supportive brokers and customers and to our dedicated staff for their contribution to the performance UTB delivered through a particularly unusual and challenging year.”
