Unity Bank Plc, one of Nigeria’s leading commercial banks, has reported gross earnings of N44.59 billion for the 2019 financial year, sustaining its growth trajectory in all areas of business operations through innovative reforms and real-time customer-friendly products and services delivery.
This is even as the lender’s latest financial statements in Q1, 2020 released alongside with the 2019 financial year results to the Nigerian Stock Exchange (NSE) showed that its Profit Before Tax (PBT) increased to N550 million.
The Profit After Tax (PAT) stood at N506.07 million or 9% increase over the PAT N464.87 million reported in the corresponding quarter of last year.
A further analysis of the bank’s audited financial statement showed that it grossed N3.64 billion PBT while the PAT stood at N3.38 billion.
The bank’s Net Operating Income for 2019 financial year rose to N23.211 billion, indicating 76.39% increase over the N13.159 billion reported in 2018.
Similarly, the Net Interest Income also grew by 18.06% to N16.493 billion from N13.970 billion the previous year just as the Total Assets value increased by 71.93% at N293.052 billion compared to the N210.80 billion reported in 2018 financial year.
Commenting on the results, the bank’s Chief Executive Officer, Mrs. Tomi Somefun, said that the lender’s potential in many aspects of the business as reflected in growing balance sheet of the is indicative of market confidence in the board and management’s repositioning efforts.
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