Unity Bank Records N1 Billion Profit

For the 2022 financial year, Unity Bank Plc has posted a Profit Before Tax of N1.1 billion.

The bank made this known in its audited full-year financial statement submitted to the Nigeria Exchange Group Limited, 

According to the financial report, the bank's gross earnings rose by 13.1 per cent to N57 billion from N50.2 billion in the corresponding period of 2021.

Unity Bank recorded a growth in total comprehensive income, which rose by 262.1 per cent to N1.2 billion from N744 million in the corresponding period of 2021.

The bank grew Profit Before Tax (PBT) by N1.1 billion, while Profit After Tax stood at N941.4 million.

During the period, customers' deposit increased by 1.6% to N327.4 billion from N322.2 billion.

Commenting on the financial statements, the Managing Director/CEO of Unity Bank Plc, Tomi Somefun noted that the bank’s focus on building back momentum continues to reflect in the key performance indicators despite economic headwinds.