Unity Bank Plc announced N2.72 billion profit before tax for its unaudited third quarter financial report.

The commercial bank attributed the modest performance to the challenging operating environment while pointing to key financial indices to validate sustained growth.

“This attests to the bank’s ability to remain profitable and resolute in its commitment to delivering value and return on investment to its shareholders and customers,” it said in a statement.

The commercial bank reported gross earnings of N65.03 billion in the third quarter, up from N64.58 billion recorded in the corresponding quarter of 2016. Post- tax profit stood at N2.45 billion.

However, operating expenses were down 2 percent from N18.9 billion in the 3Q of 2016 to N18.6 billion in the 3Q of 2017. This, the bank attributed to cost containment initiatives instituted by the bank to optimize resources for efficiency and effectiveness.

Earnings per share stood at 20.94 kobo in the quarter.

Speaking on the report, Mrs. Tomi Somefun, the Managing Director/Chief Executive Officer, Unity Bank said “the bank in the process of repositioning itself had tapped into the emerging opportunities in the enlarged economic space within Nigeria particularly in the agriculture and the Small and Medium Enterprises value chains.”

http://investorsking.com/unity-bank-reports-n2-72bn-profit-3q/

FTC 2

make una dey deceive una self. dead bank

Hausa Bank

All of them dey declare profit anyhow. lie Mohammed banks

HeWrites:
FTC 2

you've really achieved this week. Thank God for your life.

dem still gt customers

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GavelSlam:
Banks have been declaring huge profits even those that were considered comatose a while back.

Manufacturers are also declaring profits, farmers are enjoying bumper harvests.

Price of palm oil has fallen, Garri also.

Yet the government receives insults daily from some that have sworn never to be happy in their miserable lives.

accounting profit is not same as economic profit. Change in accounting policy or changes in market can increase ur accounting profit.

Taaaaa!

Lies from the pit of hell. Who banks with that Yeye Bank of the North.

Dead bank that doest even have ordinary ATM.
LAPO is richer than this useless bank.

How about my bank? Ecobank; the PAN AFRICAN BANK now ''THE BAD AFRICAN BANK'' Only the Ecobak customer knows what I mean

Unity Bank still dey?? D north luvs its own dats d only reason d bank still exists

hatchy:
Taaaaa!

Lies from the pit of hell. Who banks with that Yeye Bank of the North.

Dead bank that doest even have ordinary ATM.
LAPO is richer than this useless bank.

If nobody banks with them they wouldn't have been in existence any longer. They have staffs and they open daily; where do they get money to pay staffs if nobody banks with them.

yeyerolling:
accounting profit is not same as economic profit. Change in accounting policy or changes in market can increase ur accounting profit.

The bulk of profits being declared by banks is from arbitrage in trading FX. The government's funny FX policies let every bank make a killing.

Babaginda keeps smiling to the bank,Nigeria is finished ooo

GavelSlam:


What does that even mean?

Is it not a bank with deeper pockets that gives out more loans?

Does a profitable bank not also imply that lodged funds would be protected?

wetin u sabi. Most are making money from FX round tripping. Oceanic and intercontinental were very profitable

GTB's profit in a week.

Your mate dey declare 130B

Na bank be this? Anyway, na bank for the abokis, them no sabi do business

How

eyaaa, so happy for them. u'll really pity dem the way their banking halls are always deserted. They have the highest interest rates on savings accounts sha.