Unity Bank
Unity Bank Plc, Nigeria’s foremost agriculture lender, has sustained the growth momentum demonstrated in its 2020 full year earnings as it recorded an impressive performance of 43 per cent in both profit before and after tax in Q1 2021.
In the Bank’s unaudited Q1 results submitted to the Nigerian Stock Exchange on Friday, the retail lender profit before tax (PBT) grew by 43 per cent to N784.3million from N550.1 million recorded in the corresponding period of 2020.
The profit after tax (PAT) for the period, which also grew by 43 per cent stood at N721.5million compared to the N506.1million recorded in Q1 2020.
Unity Bank records 3% growth PBT, PAT in Q1 2021
tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
Ecobank Group Declares Superlative Q1 Result As PBT Up 22% to N40 3 billion
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.
The company disclosed this in its 2020 audited result released by the Nigerian Stock Exchange on Thursday.
The profit was higher when compared with N73.7 billion achieved in the comparative period of 2019.
Also, profit before tax rose by 11.2 per cent to N83.7 billion in contrast with N75.3 billion posted in 2019.
Its operating income stood at N426.3 billion from N417.5 billion in 2019, while gross earnings dropped marginally by 1.9 per cent to N579.4 billion from N590.4 billion in the previous year.
The company’s total assets rose by 23.9 per cent to N7.7 trillion in contrast with N6.2 trillion achieved in the corresponding period of 2019.