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Charity Bank to reinvest 2022’s £2.7mn profit


Charity Bank achieved a record financial result in 2022, with a profit of £2.7mn – and is reinvesting all of it to further its mission and extend its reach to underfunded charities and social enterprises.

According to its annual results, in 2022, 60% of Charity Bank’s lending was directed towards organisations operating in the most underfunded and underserved areas of the UK. The bank also supports initiatives combating climate change and assists organisations in reducing their carbon footprint.

It also disbursed a record £53.9mn in new loans last year, supporting UK charities and social enterprises. The bank expects to significantly increase the range and diversity of organisations supported in 2023, and will set specific targets for reaching ethnically diverse enterprises and other groups that have experienced exclusion from social investment.

Ed Siegel, Chief Executive of Charity Bank said:

“Our strong financial performance will enable us to expand our lending activities, which will help us to make an even greater social impact. During the cost of living crisis we have remained a reliable source of support for charities and social enterprises. By providing loans, Charity Bank helps these organisations to improve their financial position, expand their services, and better serve their communities.”

Charity Bank’s 2023 borrower survey reveals the following findings:

71% of respondents reported an increased number of services

89% noted an improved quality of service or facilities

68% said their Charity Bank loan allowed their projects to go ahead

61% experienced a growth in income

40% reduced their operational costs

33% acknowledged that the bank’s support helped them stay afloat

21% reported direct environmental benefits from the projects supported with a Charity Bank loan, with an additional 21% experiencing indirect environmental benefits

Under Charity Bank’s revised strategy for 2023-2027, it will be focusing on organisations serving those with the greatest needs, targeting economically deprived communities, extending outreach to systematically underfunded groups, prioritising lending intentionally for complex housing needs, and building a “green lending” portfolio.

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