By Rukayat Adeyemi
Lagos, Sept. 9, 2024 (NAN) – Unity Bank Plc has projected gross earnings of N27 billion and a profit after tax of N4 billion for the fourth quarter of 2024, according to its latest earnings forecast submitted to the Nigerian Exchange Group (NGX) on Monday.
This projection marks a slight increase from the N26 billion earnings forecasted for Q3 2024, with pre-tax profit expected to hit N4.2 billion. The bank also anticipates a rise in interest income from N23 billion to N24.5 billion.
Net revenue is forecasted to grow marginally by 1% to N7.2 billion in Q4, compared to N6.5 billion in Q3. Additionally, Unity Bank projects a net operating income of N12 billion, while cash flow from financing activities is expected to surge to N481.4 billion, up from N353.6 billion—a 1.3% quarter-on-quarter increase.
The bank remains confident in achieving these targets, citing an optimistic outlook for the final quarter of 2024, provided the operating environment remains stable. Unity Bank also plans to continue enhancing its digital lending platforms to maintain strong service delivery across its product offerings.
