Unity Bank grows earnings to N57b as Q1 profit rises by 21 per cent | The Guardian Nigeria News - Nigeria and World News

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Unity Bank Plc records gross earnings of N57 billion, with profit before tax of N1.1 billion for full-year results ending Dec 2022. Key performance indicators grew significantly.

The bank, in its audited full-year financial statement submitted to the Nigeria Exchange Group Limited, recorded growth in key performance indicators as reflected in the interest income, loans and advances, customer deposits and profits.

Similarly, income from fees and commissions recorded significant growth, rising by 25.7 per cent to N7.68 billion. Deposits from customers saw marginal growth, increasing by 1.6 per cent to N327.4 billion from N322.2 billion in the corresponding period of 2021, as the bank pushes for deeper penetration of its retail footprint with the rollout of products targeting different segments of the market.

“There are highs and lows as we look at the gross earnings, with 13.7 per cent growth, increase in liquid assets by 7.5 per cent and deposits recording moderate growth of 1.6 per cent, while maintaining steady growth in profitability”, she stated.

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