United Trust Bank (UTB) has announced a strategic partnership with Warburg Pincus, a global private equity firm, which will acquire a minority equity stake in the bank. This investment values UTB at approximately £520 million and is pending regulatory approvals. The partnership aims to bolster UTB's growth trajectory and facilitate its expansion into new products and markets.

UTB currently serves around 60,000 deposit customers and manages total assets nearing £4 billion. The bank operates various divisions, including development finance, bridging finance, structured finance, asset finance, buy-to-let finance, and mortgages. The collaboration with Warburg Pincus is expected to enhance UTB's capabilities and support its ambitious growth plans.

Harley Kagan, CEO of UTB, expressed enthusiasm about the partnership, highlighting it as a significant milestone for the bank. He emphasized that Warburg Pincus's involvement will accelerate growth and provide valuable support as UTB aims for a £4 billion balance sheet. Kagan also acknowledged the contributions of UTB's staff, attributing the bank's success over the past two decades to their dedication and hard work.

Warburg Pincus has a long history in private equity, having invested over $15 billion in more than 125 companies across Europe since 1983. The firm has also committed over $25 billion in the global financial services sector, focusing on specialist banking and lending. Mike Thompson, managing director at Warburg Pincus, expressed excitement about partnering with UTB, recognizing the bank's strong market position and innovative approach.

Thompson noted that UTB's management team and customer-centric focus are pivotal to its success. He looks forward to collaborating with Kagan and his team to leverage Warburg Pincus's expertise in financial services and capital solutions, aiming to unlock new opportunities in the UK market.

Overall, this partnership marks a significant step for UTB as it seeks to enhance its market presence and continue its growth journey with the support of a seasoned investor like Warburg Pincus.