Unity bank  records 16%  rise in gross income

By Philemon Adedeji

Unity Bank Plc has  recorded 16 per cent rise on gross income. This is contained in unaudited financial statement for the full year ended December 31, 2022 with a declaration of    N1.35 billion profit for the period

Interest and similar income grew to a value of N49.034 billion from N43.182 billion during the period, representing an increase of 13.5 per cent.

Another top-line performance in the unaudited results is gross income which appreciated by 16 per cent to N56.959 billion in full year 2022 from N48.977 billion accounted in prior-year period.

Net Interest Income recorded for the period moved from N20.054 billion in the corresponding year 2021 to N19.392 billion in 12 months of 2022, representing a marginal difference of 3 per cent.

Operating From the data released to the platform of the Nigerian Exchange Limited (NGX), the group Profit Before Tax declined by 56 per cent to N1.465 billion in full year 2022 from N3.332 billion achieved in the comparable period of 2021. gained a 6 per cent to N13.364 billion in full year 2022 from N12.560 in full year 2021, but Operating income declined by 10 per cent to N885 million in 2022 financial year from N958 million in 2021 financial year.

Earnings per share  recorded for the period dropped by 11.53 Kobo in 12 months of 2022 from 27.15 Kobo achieved in the previous year.