Unity Bank records N33.9 Billion earnings in 9 months.

Unity Bank Plc has said that it recorded gross earnings of N33.906 billion for the
nine months’ period ended September 30,
2020.
The bank also recorded a 44% growth in
total assets during the period.

A review of the unaudited results released
to the Nigerian Stock Exchange showed that the gross earnings of N33.906 billion represents an eight per cent growth from
N31.256 billion recorded in the same period in 2019.

The lender’s total assets rose significantly
to N420.870 billion in the nine-month period which ended on September 30, 2020, from N293.052 billion in the corresponding period of 2019, representing a whopping
44% growth.

Commenting on the result, Unity Bank’s
Managing Director/Chief Executive Officer, Mrs. Tomi Somefun welcomed the steady growth of the balance sheet especially from both assets and liability side of the business and across key performance indices.

She said that this has had sustained impact on the bottom-line, even as the bank continues to innovate in its e-business product bouquet to target and support value chain business with robust technology and thus diversify its earnings base”.

Looking ahead, Mrs. Somefun states, “One of the areas that will define our strategic direction going forward is investment in alternative channels leveraging further deployment of resources in technology. COVID-19 have given us a chance to test the integrity and scalability of our technology, the IT infrastructure, and the electronic banking channels, and provided us an opportunity to see where we needed to improve and strengthen, knowing that the future of sustainable banking business is in
alternative channels”.