Unity Bank Plc has released its financial statement for the 12 months ended 31 December 2022.
The bank reported a profit of N1.35 billion for the period, representing a 58% decline when compared to the N3.17 billion reported during the same period of the previous year.
See the key summaries below.
Gross Income
2022 FY: N56.959 billion
2021 FY: N48.977 billion
Change: +16%
Net Interest Income
2022 FY: N19.392 billion
2021 FY: N20.054 billion
Change: -3%
Operating Income
2022 FY: N885 million
2021 FY: N958 million
Change: -10%
Operating Expenses
2022 FY: N13.364 billion
2021 FY: N12.560 million
Change: +6%
Pre-tax profit
2022 FY: N1.465 billion
2021 FY: N3.332 billion
Change: -56%
Net Profit after tax
2022 FY: N1.348 billion
2021 FY: N3.173 billion
Change: -58%
Earnings per share
2022 FY: 11.53 Kobo
2021 FY: 27.15 Kobo
Change: -58%
Bottom line: The company witnessed a slowdown in profits despite the increase in gross income by 16% amid inflationary pressure and depreciation of the naira.
Interest and similar income also grew to a value of N49.034 billion from N43.182 billion during the period.
... Unity Bank posts N1.3 billion profit for FY 2022 Read More on ... Naijaonpoint.
