Unity Bank Plc, a Tier 2 commercial bank, has projected gross earnings of N27 billion and a Profit After Tax (PAT) of N4 billion for Q4 2024. This projection is outlined in the bank’s latest earnings forecast released to the Nigerian Exchange Group.
The anticipated gross earnings for Q4 reflect a slight increase from the N26 billion projected in Q3 2024, underscoring the bank’s continued profitability. Pre-tax profit is expected to hit N4.2 billion.
According to the forecast, Unity Bank expects interest income to rise from N23 billion in Q3 to N24.5 billion in Q4, while net revenue is projected to increase by 1%, from N6.5 billion to N7.2 billion quarter-on-quarter.
The bank also anticipates net operating income of N12 billion and a significant rise in cash flow from financing activities, projected to reach N481.4 billion, up from N353.6 billion in Q3 2024—representing a 1.3% growth. This increase reflects Unity Bank’s improving liquidity, crucial for sustaining its business operations.
The bank emphasized that these projections are based on the current operating environment and assume no major disruptions. It remains optimistic about achieving its targets, driven by its strategic focus on customer-centric products and services, particularly in the digital lending space, where it has rolled out enhanced platforms to improve customer experience.
Analysts believe Unity Bank’s Q4 forecast demonstrates a steady growth trajectory, supported by key performance indicators and strategic efforts to navigate challenging market conditions.
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