Results & Dividends

Unity Bank Reports N22.582 billion Loss in 2013

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By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s mid-tier bank, Unity Bank Plc has reported a loss of N22.5 billion in its audited year ended December 31, 2013.

The bank posted a negative profit after tax (PAT) of N22.582 billion in 2013 end compared to N6.180 billion reported in 2012 end; showing a loss of 465.4 percent.

Similarly, profit before tax (PBT) also went down from a negative of N6.456 billion in 2012 audited year end to a negative N33.639 billion in the review period of 2013; indicating a loss of 621.1 percent.

However, interest income increased 26.6 percent from N41.237 billion in 2012 end to N52.195 billion in 2013 audited year end.

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