United Trust Bank says it has witnessed a record half to the year.

Business surpassed pre-credit crunch levels.

The bank has revealed that in the first six months of 2011 they have matched the total value of new development facilities for the whole of 2010. Indications are that 2011 will result in a 100% increase in business.

It did not, however, publish any exact figures.

Noel Meredith, director at United Trust Bank believes that this increase in business is due in part to experienced developers seeing the opportunity to bring forward projects to markets which are lacking new home provision, and also the bank’s continuing appetite for lending in this sector.

He said: “There is no doubt that we are benefiting now from a period when United Trust Bank continued to offer loans in the development finance sector when many other lenders either rationed their business or stopped altogether.