Unity Bank targets N27bn in Q4 earnings, eyes N4bn profit amid strategic growth

By Esther Agbo 

Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax (PAT) of N4 billion for Q4 2024, according to the bank’s latest earnings forecast submitted to the Nigerian Exchange Group. 

This represents a slight uptick from the N26 billion forecast for the previous quarter, underscoring the bank’s steady profit outlook.

The financial projection also shows a pre-tax profit expectation of N4.2 billion, with interest income forecasted to rise to N24.5 billion, up from N23 billion in Q3 2024. 

Additionally, net revenue is expected to grow by 1.0 per cent, reaching N7.2 billion in Q4 compared to N6.5 billion in the preceding quarter.

Unity Bank’s net operating income is pegged at N12 billion for Q4, while cash flow from financing activities is projected to increase by 1.3 per cent to N481.4 billion, up from N353.6 billion in Q3. 

This reflects the bank’s bolstered liquidity position, which is essential for sustaining operations amid prevailing market challenges.

Despite a tough operating environment, Unity Bank remains optimistic, leveraging its growing liquidity and enhanced digital lending platforms to deliver innovative and customer-centric services.

However, analysts view the Q4 forecast as a continuation of Unity Bank’s upward trajectory, citing strategic moves to navigate the difficult economic climate and maintain growth across key performance indicators.