Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Opinions Blurb

Danger As Unity Bank Still Carries N116 Billion Accumulated Losses Into 2016

Nairametrics by Nairametrics
May 13, 2016
in Blurb
Official: Unity Bank Appoints Acting Managing Director
Share on FacebookShare on TwitterShare on Linkedin

Unity Bank Plc released its 2016 first quarter results showing pre-tax profits for the quarter of N920.5 million representing a drop of about 73% when compared to the N3.2 billion reported a year earlier.

The banks also reported a Gross earnings of N12.4 billion compared to N15.5 billion a year earlier. Whilst the result was poor what was more worrying was the huge retained earnings the bank is still carrying in is balance sheet. According to the results the bank had a negative retained earning of N116.2 billion with just about N10.4 billion in its premium account. This means it does not even have the enough share premium to set off against negative accumulated profits.

The bank embarked on a share reconstruction exercise where its  price from 50 kobo to about N5. The share price is currently less than N1. The bank’s balance sheet should be troubling to shareholders who are by now asking questions on what’s next. Should the bank raise more equity, get bought out or be taken over by the government. The bank will hope that the latter never happens.

RelatedPosts

Unity Bank targets N10.89 billion gross earnings in Q3 2022

How Yanga will serve underbanked women entrepreneurs – Olufunwa Akinmade, Unity Bank Plc

Related

Tags: unity bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Benin DisCo says forceful takeover causing company monthly loss of N750 million
    • Dangote Major Driver of Real Estate Development – Builders
    • Kenyan Shilling plunges against dollar since William Ruto’s victory

    Follow us on social media:

    Recent News

    Benin DisCo says forceful takeover causing company monthly loss of N750 million

    Benin DisCo says forceful takeover causing company monthly loss of N750 million

    August 17, 2022
    Dangote Major Driver of Real Estate Development – Builders

    Dangote Major Driver of Real Estate Development – Builders

    August 17, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com