Retail lender, Unity Bank Plc has declared a N2.2 billion profit for the nine-month period ended September 30, 2022, with 17% growth in gross earnings to N42.2 billion for the same period, as against N36.2 billion in the corresponding period of 2021. The increase can be attributed to new products that are focused on deep penetration and driving volume in the retail market space.
A review of the Agric-focused lender’s unaudited nine-month results released to the Nigerian Exchange Group Limited on Friday showed that the Bank’s Profit Before Tax, PBT rose by 5% to close at N2.206 billion. The Bank also recorded an equal marginal growth in its Profit After Tax, PAT which increased to N2.029 billion, representing a 5% rise from N1.9 billion recorded in the same period of 2021.
Unity Bank Plc continued its growth momentum as total loans and advances as of September 30, 2022, reported N284.2 billion, which represents a 6% spurt from the N269.3 billion recorded in the corresponding period of 2021.
