WorldStage Newsonline– Unity Bank Plc, has projected a gross earnings of N26.93 billion in gross earnings for the third quarter, a 8.2 per cent increase from the second quarter of 2024 projection of N24.89 billion.
The bank in its earning forecast released to the Nigerian Exchange Ltd. (NGX) also projected a profit after tax of N5.2 billion and a pre-tax profit of N5.7 billion for the quarter.
The earnings forecast also showed that the bank expects to record its interest income at N23 billion, with net revenue anticipated to hit N6.58 billion for the period.
Unity Bank’s operating income is expected to rise to N13.38 billion, while cash flow from financing activities is projected to rise to N353.6 billion for the projected quarter.
Meanwhile, the bank’s improved projected cash from financing activities and the expected increase in cash and cash equivalents highlight the lender’s strong liquidity position, which is critical for sustaining current and future business operations.
The bank stated that it expected to achieve the result and surpass the projection, barring any unforeseen significant changes in the operating macroeconomic environment under which assumptions underlying the forecast were made.
