Results & Dividends

Unity Bank Records 26% Increase in Q1 Profit

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s mid-tier lender, Unity Bank Plc Thursday said it has recorded a 26 percent (26%) increase in profit after tax (PAT) in its first quarter (Q1) report for the period ended March 31, 2014.

Its PAT climbed to N2.670 billion in Q1 2014 from N2.123 billion in the same period of 2013.

Profit before tax (PBT) also grew by the same margin as the bank reported N3.142 billion in its Q1 2014 compared to N2.498 billion in the same period of 2013.

Gross earnings went up to N14.971 billion in the first quarter of 2014 from N13.985 billion in the corresponding period of 2013; indicating an increase of 7.1% in the review period.

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