Unity Bank Plc Raises PAT BY 4% To N464.8M IN Q1 2019

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Unity Bank Plc. released its financial result for the first quarter ended 31 March 2019. The Bank recorded a 14% increase in Gross income from N8, 794, 145 Million on 31 March 2018 to N10, 049, 642 Million on 31 March 2019.

The Net Interest income declined by -16% from N4, 323, 148 Million on 31 March 2018 to N3, 622, 895 Million on 31 March 2019.

The PBT increased by 4% from N485, 408 Million to 505,292 Million on 31 March 2019. While PAT also increased by 4% from 446,575 Million to 464,868 Million on 31 March 2019. However, the bank has previously declared a PAT for the financial year ended 31 December 2018 of N1, 304, 652 Million.

The bank also increased Net loans and advances to customers from N43, 657, 372 Million to N60, 078,585 Million on 31 March 2019. Meanwhile, the net operating income reduced by -7% from 5,337,300 Million to N4, 984, 724 Million on 31 March 2019.

 

Samson Oyedeyi

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