Retail lender, Unity Bank Plc has posted gross earnings of N27.6 billion for its 2022 half-year results, representing a growth of 17 percent year-on-year.
In its unaudited half-year financials submitted to the Nigeria Exchange Group Limited, the Bank also made significant improvements across key performance indicators.
The Bank grew Profit Before Tax (PBT) by 23 percent which rose to N1.8 billion from N1.5 billion in the corresponding period of 2021. Profit After Tax (PAT) for the period equally increased by 23 percent to close at N1.6 billion from N1.382 billion in H1 2021.
The key highlights of the financial statements showed growth in interest and similar income, which rose 18% to N23.938 billion from N20.273 billion in the corresponding period of 2021, an indication of sustained growth in the loan book as well as improved earnings from the lender’s robust digital channels, arising from sustained investment in its digital payment infrastructure.
Similarly, the lender posted sustained asset growth as total assets moved up by 7 percent to N574.3 billion from N538.9 billion in 2021.
Other key highlights of the financial statement include a 12 percent growth in deposits, which rose to N359.5 billion from N322.3 billion in December 2021, a clear indication of the positive trend of the Bank’s innovative retail products targeting several segments of the retail market as well as enhanced customer acquisition strategies for emerging products rolled out to the market during the period under review.
In the same vain, the lender recorded an increase on its loan books to N303.632 billion from N269.270 billion in 2021, representing a 13% growth.
Commenting on the financial statements, the Managing Director/CEO of Unity Bank Plc, Mrs Tomi Somefun welcomed the H1’22 results. She noted that while the key performance indicators continue on an upward trajectory; PBT (23% YoY), Total Assets (7% YoY), and gross earnings (17% YoY); the outlook for our financial position has now moderated significantly looking at other fees and income lines which performance was hitherto characterised by volatilities in the operating environment.
“As the Bank aims to further grow all indices to double-digit regions in the coming years, one reassuring take from the financial position lies in the market confidence, as well as steadily growing retail and SME franchise arising from the development of products that resonate with different markets segments, which will enable the Bank to continue to operate and successfully navigate the tough operating environment, amid rising economic headwinds,” Mrs. Somefun stated.
The Unity Bank boss also stated that having invested massively in technology to drive a major revamp in our digital Banking products and channels including the Unifi Mobile App, our USSD, *7799#, internet banking, etc., the major focus is to drive increased optimisation which will enable the Bank to provide electronic convenience in the way we support our teaming customers and market segments and more often change the way they transact business.
In the view of analysts, the key performance indicators showed that the market sentiments are responding positively to the strategies of the lender’s management to accelerate the growth momentum designed for the Bank.
UNITY BANK POSTS N27BN GROSS EARNINGS IN H1’22 RECORDS 23 PERCENT GROWTH IN PAT
Hey there I am so glad I found your blog page, I really found you by mistake, while I was searching on Bing for something else, Anyhow I am here now and would just like to say thank you for a remarkable post and a all round enjoyable blog (I also love the theme/design), I don’t have time to read through it all at the minute but I have saved it and also added in your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the excellent job.
Great beat ! I wish to apprentice whilst you amend your site, how can i subscribe for a blog web site? The account aided me a appropriate deal. I have been tiny bit familiar of this your broadcast provided vibrant transparent concept
Hello there, simply became aware of your blog through Google, and found that it is really informative. I’m gonna watch out for brussels. I will appreciate for those who continue this in future. Many other people can be benefited from your writing. Cheers!
It’s an awesome post designed for all the internet users; they will take benefit from it I am sure.
Hi, I do believe this is an excellent website. I stumbledupon it 😉 I am going to return once again since I book-marked it. Money and freedom is the best way to change, may you be rich and continue to help other people.
What i do not realize is in fact how you’re now not really a lot more smartly-liked than you may be right now. You are so intelligent. You know therefore significantly in terms of this topic, produced me in my opinion believe it from so many numerous angles. Its like men and women don’t seem to be interested unless it’s something to accomplish with Woman gaga! Your personal stuffs excellent. Always deal with it up!
It’s really a nice and helpful piece of information. I’m satisfied that you shared this helpful info with us. Please stay us informed like this. Thanks for sharing.
I’ve been exploring for a little for any high-quality articles or blog posts in this kind of area . Exploring in Yahoo I finally stumbled upon this web site. Reading this info So i’m glad to exhibit that I have a very good uncanny feeling I came upon exactly what I needed. I such a lot definitely will make certain to don?t fail to remember this site and give it a look on a constant basis.
Thank you for sharing your info. I truly appreciate your efforts and I am waiting for your next post thank you once again.
Greetings! This is my 1st comment here so I just wanted to give a quick shout out and tell you I truly enjoy reading through your articles. Can you suggest any other blogs/websites/forums that deal with the same subjects? Appreciate it!
Howdy just wanted to give you a quick heads up and let you know a few of the images aren’t loading correctly. I’m not sure why but I think its a linking issue. I’ve tried it in two different internet browsers and both show the same results.
Thanks for a marvelous posting! I definitely enjoyed reading it, you’re a great author.I will be sure to bookmark your blog and will eventually come back at some point. I want to encourage yourself to continue your great job, have a nice day!
Hey! I know this is somewhat off-topic but I had to ask. Does running a well-established blog like yours take a massive amount work? I’m completely new to writing a blog but I do write in my diary daily. I’d like to start a blog so I can share my own experience and thoughts online. Please let me know if you have any ideas or tips for new aspiring bloggers. Appreciate it!
obviously like your web-site however you need to test the spelling on quite a few of your posts. Several of them are rife with spelling problems and I find it very bothersome to tell the truth then again I will surely come back again.
Wow, wonderful blog format! How long have you been blogging for? you make blogging glance easy. The total glance of your site is wonderful, let alonewell as the content!
This is very fascinating, You are an overly professional blogger. I have joined your feed and sit up for seeking more of your fantastic post. Also, I have shared your site in my social networks
Every weekend i used to go to see this website, as i want enjoyment, as this this site conations actually pleasant funny data too.
It is not my first time to go to see this site, i am visiting this web site dailly and take pleasant information from here everyday.
Hi, yup this piece of writing is really nice and I have learned lot of things from it regarding blogging. thanks.
Hello would you mind stating which blog platform you’re working with? I’m planning to start my own blog in the near future but I’m having a difficult time choosing between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design and style seems different then most blogs and I’m looking for something completely unique. P.S My apologies for getting off-topic but I had to ask!
Great info. Lucky me I found your website by accident (stumbleupon). I have book marked it for later!
Undeniably believe that that you stated. Your favourite justification appeared to be at the internet the simplest thing to remember of. I say to you, I definitely get irked at the same time as other folks consider concerns that they plainly do not realize about. You controlled to hit the nail upon the top as well as defined out the whole thing with no need side effect , other people can take a signal. Will likely be back to get more. Thank you
I really like it when people come together and share opinions. Great blog, keep it up!
wonderful publish, very informative. I wonder why the other experts of this sector do not realize this. You should continue your writing. I am sure, you have a huge readers’ base already!
I loved as much as you will receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get bought an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly a lot often inside case you shield this increase.
You can definitely see your enthusiasm in the article you write. The world hopes for more passionate writers like you who aren’t afraid to mention how they believe. All the time go after your heart.
Incredible! This blog looks exactly like my old one! It’s on a entirely different topic but it has pretty much the same layout and design. Outstanding choice of colors!
WOW just what I was searching for. Came here by searching for %keyword%
I am curious to find out what blog system you are utilizing? I’m experiencing some minor security problems with my latest site and I would like to find something more safe. Do you have any solutions?
It’s not my first time to go to see this website, i am visiting this web site dailly and take nice data from here everyday.
Pretty! This was an extremely wonderful post. Thank you for providing this information.
I’m not sure where you are getting your info, but good topic. I needs to spend some time learning more or understanding more. Thanks for wonderful information I was looking for this information for my mission.
Wonderful beat ! I wish to apprentice at the same time as you amend your web site, how can i subscribe for a blog site? The account aided me a applicable deal. I were tiny bit familiar of this your broadcast provided vibrant transparent concept
Hi, just wanted to say, I enjoyed this post. It was inspiring. Keep on posting!
This is a topic that’s close to my heart… Many thanks! Where are your contact details though?
Pretty! This was a really wonderful post. Thanks for providing this information.
Hi, I desire to subscribe for this blog to get newest updates, thus where can i do it please assist.
Whats up this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding know-how so I wanted to get advice from someone with experience. Any help would be greatly appreciated!
Wow, that’s what I was searching for, what a information! present here at this weblog, thanks admin of this web site.
This post will help the internet users for creating new blog or even a blog from start to end.
Thank you, I have recently been searching for information approximately this topic for ages and yours is the best I have found out so far. However, what about the conclusion? Are you positive about the source?
continuously i used to read smaller posts which also clear their motive, and that is also happening with this article which I am reading at this place.
It’s awesome to pay a visit this site and reading the views of all friends about this post, while I am also keen of getting knowledge.
Spot on with this write-up, I truly believe this web site needs far more attention. I’ll probably be back again to read more, thanks for the information!
Awesome blog! Is your theme custom made or did you download it from somewhere? A design like yours with a few simple adjustements would really make my blog shine. Please let me know where you got your design. With thanks
This is very interesting, You are a very skilled blogger. I have joined your feed and look forward to seeking more of your great post. Also, I have shared your site in my social networks!
Usually I do not read article on blogs, however I wish to say that this write-up very forced me to try and do so! Your writing taste has been amazed me. Thank you, quite great article.
Every weekend i used to visit this site, as i want enjoyment, since this this web site conations actually good funny stuff too.
Having read this I thought it was very informative. I appreciate you finding the time and effort to put this information together. I once again find myself spending way too much time both reading and commenting. But so what, it was still worth it!
Thanks for sharing your thoughts on %meta_keyword%. Regards
This is a great tip especially to those new to the blogosphere. Short but very accurate information Thanks for sharing this one. A must read article!
I’ve read several just right stuff here. Definitely worth bookmarking for revisiting. I wonder how much attempt you put to create this sort of magnificent informative web site.
Thank you for the auspicious writeup. It if truth be told was a amusement account it. Glance complex to far introduced agreeable from you! By the way, how can we communicate?
No matter if some one searches for his essential thing, so he/she needs to be available that in detail, thus that thing is maintained over here.
Greetings! I know this is kind of off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!