Unity Bank Plc has released its latest earnings forecast, projecting a gross earnings of N27 billion and a Profit After Tax of N4 billion for Q4 2024.
This represents a marginal increase from the N26 billion projected for Q3 2024, demonstrating the lender’s continued commitment to maintaining a profitable outlook.
According to the forecast, pre-tax profit is expected to reach N4.2 billion, with interest income rising from N23 billion to N24.5 billion.
Net revenue is projected to increase by 1.0% to N7.2 billion, up from N6.5 billion in Q3 2024. Additionally, net operating income is expected to reach N12 billion, while cash flow from financing activities is projected to rise by 1.3% to N481.4 billion, up from N353.6 billion.
This growth in cash flow from financing activities reflects the lender’s improving liquidity position, essential for sustained business operations.
Unity Bank attributes this projected growth to its consistent optimistic outlook, barring any significant changes in the operating environment.
The lender remains committed to delivering customer-centric products and services, particularly in the digital lending space.
Following the roll-out of enhanced platforms and channels, Unity Bank aims to provide superlative customer experiences.
Analysts view the Q4 forecast as a reflection of Unity Bank’s steady growth trajectory, driven by key performance indicators and strategic repositioning to navigate challenging market conditions.
This forecast demonstrates the lender’s resilience and ability to adapt to changing circumstances, positioning it for continued success in the Nigerian banking industry.
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