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Unity Bank Earns 7% Increase In Nine Months

Unity Bank Earns 7% Increase In Nine Months

Unity Bank Plc has said that the bank has earned a 7 percent increase in its gross earnings to N36.18 billion for the period of nine months. Jamb Result

RIPPLES NIGERIA reports that the bank has earned higher compared to the N33.9 billion in 2020.

According to RIPPLES NIGERIA, Unity Bank Plc revealed this in its unaudited results for the third quarter of 2021 and submitted it to the Nigerian Exchange Group (NGX) Limited.

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From the unaudited results, the bank recorded a 31% increase in its loan book to N265.32 billion from N202.08 billion in 2020, as well as a 17% increase in its asset base to N574.56 billion from N492.02 billion in December 2020.

RIPPLES NIGERIA reports that the Managing Director/CEO of Unity Bank, Mrs. Tomi Somefun expressed satisfaction with the performance indices of the Q3/2021 financials.

According to RIPPLES NIGERIA, she said, “Particularly inspiring are the growing loan book and quality of assets (31% growth), cash and balances with the CBN which is 24 percent growth and PBT at 23 percent growth, altogether adding to the consecutive growth of the balance sheet in the last couple of years“.

According to her, the market is increasingly beginning to see the efforts in the strategic refocusing of the bank and diversification of the bank’s earnings base. Information Guide Nigeria

She noted that this was translating into tangible results even as the bank strives to meet the expectations of esteemed customers and cherished stakeholders.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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