Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month interval ended September 30, 2023.
The financial institution mentioned this in its unaudited outcomes launched to the Nigerian Exchange Group, NGX Ltd. in Lagos.
The financial institution’s buyer deposits appreciated by 5 per cent to N344.4 billion throughout the interval, indicating enterprise development and buyer confidence.
An additional evaluate of the unaudited confirmed that the financial institution continued to preserve its expansionary and customer-centric mannequin with complete loans and advances rising to N222.8 billion.
Interest and comparable revenue stood at N33 billion, which underscores the financial institution’s strategic focus to reinvigorate and maintain asset creation that may ship returns to shareholders.
“Other key highlights of the nine-month financials include the total assets which stood at N423.4 billion; net fee and income commission, N4.4 billion within the period.
“However, the recent foreign exchange regulation impacted the bank’s bottom line, which can be reversed as the naira appreciates,” mentioned the financial institution.
Commenting on the end result, Tomi Somefun, Managing Director/Chief Executive Officer of the financial institution, mentioned the financial institution was specializing in its efforts to recapitalise the establishment, aggressively drive asset creation, innovate with merchandise to compete favourably in new markets.
Mrs Somefun added that the financial institution had relentlessly pushed the pursuit of digital banking innovation in order to shake off and utterly reverse detrimental positions.
She mentioned regardless of the robust working atmosphere, the deposit place continues to witness regular appreciation, which helps the enterprise because the financial institution drives initiatives to ramp up transactions as a part of its technique for the brief and medium time period.
“This also means that the bank enjoys market confidence, which will enable the institution to thrive better in the months ahead with increased business conversion, profitability and growth needed to achieve sustainable returns.
“The bank is seeing encouraging uptake in its digital banking services and with expansion envisaged in the pursuit of enhanced retail franchise, fintech partnership, consumer banking and other innovative retail loans as well as diversification of portfolio investment, the outlook remains one of optimism,” she mentioned.
NAN
