B-O-O-M ==>Unity Bank Post 900% Increase In Pre-tax Profits (2014 Half year)

Unity Bank Plc released its 2014 Half year results showing a 900% increase in pre-tax profits to N11billion (2013 H1: N1.2billion ). The Bank also posted a Net Interest income of N25.billion representing 23% increase year on year. Net operating income was N32.8billion representing a 17% increase over the same period last year.

Unity Bank’s customer deposits dropped 7.2% to N281.5million this year and had loans and advances of N215million. Unity bank still has a negative retained earnings of N47.6billion which means they still can’t pay dividends.