Unity Bank reports N2.5bn profit in 2021 financial year

By Philemon Adedeji

Unity Bank PLC during the week declared  N2.5 Billion profit for unaudited twelve months result for the period ended as at December 31,2021.

The group on the Nigeria exchange limited (NGX) announced 18 per cent increase in profit to N2.5 Billion profit in twelve months of 2021 from N2.08 Billion profit in twelve months of 2020.

Also, the group reported 21 per cent increase in profit before tax to N2.7 Billion in twelve months of 2021 from N2.2 Billion announced in twelve months of 2020.

Similarly, Net interest income appreciated significantly by 13 per cent year on year to N17.8 Billion in twelve months of 2020 from N17.8 Billion in twelve months of 2021.

According to the total operating income reported, it grew by 28 per cent to N27.3 Billion in twelve months of 2021 from N21.33 Billion in twelve months of 2020.

Unity Bank plc, reported  profit and loss figures, revenue increase from N42.7 Billion in twelve months of 2020 to N50.4 Billion reported in 2021, an increase of 18 per cent.