Unity Bank Reports N1.27 Billion Post-Tax Profit FY’18

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Mid tier lender, Unity Bank Plc on Friday said it recorded a profit after tax (PAT) of N1.27 billion for the full year period ended December 31, 2018 compared to a loss of N14.92 billion posted a year ago.

The bank also declared a pretax profit of N1.41 billion compared to a profit before loss of N14.24 billion reported the same period of 2017.

Gross earnings of Unity Bank dropped 58.5 percent to N37.32 billion from N89.92 billion percent declared in the audited period of 2018, the lender said in a filing with the Nigerian Stock Exchange (NSE).

Shares of Unity Bank at the close of Friday’s trading on the domestic bourse declined 4.76 percent to 0.80 kobo from 0.84 kobo traded the previous session, losing -0.04 kobo per share.

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