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Unity Bank Plc recently announced, a N4.6 billion increase, as it declared a N78.8 billion gross earnings in 2015 as against N77 billion made in 2014.

According to the bank, its performance is as a result of re-strategic moves made, despite confronting challenges, ranging from tense operating environment, dwindling economy, as well as unfavorable regulatory policy, which affected earnings and its deposit portfolio in the financial year.

Asset after tax, N27bn was recorded for 2015 as against N17bn in 2014, representing a growth of N10bn on over the previous year.

Its assets before tax grew by 7% from N413billion in 2014 to N443 billion in 2015.

The Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun, in her statement said;

“With the Bank’s re-positioning efforts and consistent focus to tap into the emerging opportunities in the enlarged economic space within Nigeria, Unity Bank is poised to deliver quality banking service to emerging sectors in retail/Small and Medium Enterprises, commercial and the agricultural value chain.

“The bank is building strong infrastructure for retail banking and attracting youths for its sustainable banking business by developing customer-centric products to meet the needs of its esteemed customers and build new clientele base.

With the bank’s capital raising exercise, the year ahead is bright as the effects of the on-going transformation initiatives will surely consolidate.

“The new management inherited huge legacy Non-Performing Loans from the general commerce and manufacturing sub-sectors and believes that the impairment charge in Year 2015 was necessary in order to give new breath of life to the institution.

“The enormous task embarked upon by the new management is to position the bank for proper clean-up and de-risking of its balance sheet, thus paving way for sustainable business in its overall transformation initiatives.”

Unity Bank is a retail bank of choice, culminating in superior financial performance and values to all stakeholders, the bank remains consistent and delivers more innovative banking products and services to customers through its 240 branches spread across all six geo-political zones of Nigeria,


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