Unity Bank projects N26b earnings in Q4
09 September 2024 |
9:42 pm
Unity Bank Plc. has projected gross earnings of N27 billion and a profit after tax of four billion Naira for the fourth quarter of 2024. READ ALSO:Unity Bank leads digital literacy, youth innovation This is contained in the bank’s latest earnings forecast sent to the Nigerian Exchange Group (NGX Group) on Monday.…
Unity Bank Plc. has projected gross earnings of N27 billion and a profit after tax of four billion Naira for the fourth quarter of 2024.
This is contained in the bank’s latest earnings forecast sent to the Nigerian Exchange Group (NGX Group) on Monday.
The projected earnings represent a marginal increase from the N26 billion the bank projected for the third quarter of 2024.
Its projected pre-tax profit stands at N4.2 billion.
An analysis of the earnings forecast shows that the lender also expects its interest income to rise from N23 billion to N24.5 billion.
According to the financial institution, its net revenue is expected to rise marginally by 1.0 percent to N7.2 billion in the last quarter, compared to N6.5 billion posted in the third quarter.
Unity Bank also projected a net operating income of N12 billion for the upcoming quarter, while cash flow from financing activities was projected to rise to N481.4 billion from N353.6 billion.
This indicates a 1.3 percent projected increase on a quarter-on-quarter basis.
The bank said it expected to cover the milestones with a consistent optimistic outlook in its projection, barring any significant changes in the operating environment
It said that it would continue to deliver top-notch products and services, especially in the digital lending space following its roll-out of enhanced platforms and channels.
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