By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s local lender, Unity Bank Plc on Thursday bounced back to profitability as it reported a N10.7 billion profit after tax (PAT) in its 2014 audited pear end compared to a loss of N22.6 billion recorded last year.

Also, profit before tax (PBT) moved from a loss of N33.6 billion in 2013 to N13.6 billion in the review period of 2014.

Interest and similar income climbed up 20 percent to N62.6 billion from N52.2 billion reported in the same period of 2013, the lender said in a filing with the Nigerian Stock Exchange (NSE).