Q1 2022: Unity Bank Plc Targets N20 Billlion Gross Earnings

For the first quarter of 2023, Unity Bank Plc said it is targeting to achieve N20.86 billion in gross earnings

This was disclosed in the bank’s Q1 2023 earnings forecast released via the Nigerian Exchange (NGX).

The lender is also projected to rake in N17.04 billion in interest income. Targets for profits before and after tax were put at N367.61 million and N336.37 million, respectively. 

During the period, the bank is also targeting an interest expense of N6.63 billion.

As of Q3 2022, Unity Bank recorded N2.2 billion profit with a 17% growth in gross earnings to N42.2 billion as against N36.2 billion in the corresponding period of 2021.

According to the bank, the increase in earnings is due to new products that are focused on deep penetration and driving.