According to the bank’s 2025 accounts, operating income increased 7% to £176m.

Gross new lending was £1.98bn and profit before tax fell to £78.7m, down from £86.4m in 2024.

Customer deposit balances increased by 13% to £3.8bn, supported by growth across retail, SME and charity savings accounts, alongside the launch of new products and a new deposit onboarding platform.

The minority equity investment by Warburg Pincus completed in March 2025 and UTB said the firm’s support has strengthened UTB’s capital base, providing insight and sector expertise.

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Harley Kagan, CEO at UTB Bank (pictured above), said that UTB had managed to deliver continued growth despite a challenging UK economic climate: “Although inflation fell and GDP growth was steady, high interest rates and low consumer confidence depressed the housing market. Against this backdrop, UTB delivered continued growth in lending, increased operating income and strengthened its capital base, underlining the resilience of its specialist business model and the strength of its customer relationships.

“The completion of the Warburg Pincus investment and £50m Additional Tier 1 capital issuance were important milestones that enhance our ability to grow. While higher provisions impacted profit before tax, our underlying performance remains strong, and we continue to invest in technology, people and product development to support sustainable, long-term success.”

United Trust Bank chair Richard Murley added: “With a strengthened capital base, the support of a new long-term shareholder and a clear strategy, the bank is well positioned to deliver disciplined growth, enhance its customer experience and create enduring value for stakeholders in the years ahead.”