Unity Bank Plc has said its deposits grew marginally by two per cent to N333.38bn in the first half of 2022 financial period, from N327.42bn recorded in the first half of 2022.
According to the statement, the bank’s non-performing loan ratio remained moderate at below three per cent, while liquidity ratio stood strong at over 45 per cent.
The bank’s profit for the period was impacted by foreign exchange revaluation on the back of Nigeria’s recent FX liberalisation policy, resulting in a slide in its position, it said. Commenting on the financial statements, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs Tomi Somefun, noted that, “The significant disruptions which characterised the operating environment had impacted the positions of the bank to the extent that we have constraints in income generation on the back of revaluation of the bank’s net foreign liabilities occasioned by the Naira devaluation during the period.
“In the light of the prevailing FX revaluation in the financial system, what we have is a market-driven impact which is adjustable, envisaged from the positive economic outcomes of the government policies in the near term.”All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Unity Bank grows gross earnings to N27.5 billion in H1 2023Retail lender, Unity Bank Plc, grew its deposits to N333.38 billion, representing a marginal increase of 2% compared to N327.42 billion recorded in H1’22 in its Half-Year unaudited financial statement
Прочитайте больше »
Unity Bank sinks to N39 billion loss after heavy hit from forex revaluationUnity Bank’s foreign exchange revaluation loss for the period stood at N35.4 billion, compared to N16.2 million a year earlier.
Прочитайте больше »
Unity Bank focused on recapitalisation, asset creation'We are, however, focused on clear-cut plans to close out on our recapitalization programme very soon to enable us to do business as expected in the fast-growing markets in Nigeria,' the bank said.
Прочитайте больше »
Kwara Revenue Agency Generates N35.4bn, Promotes 436 StaffThe Kwara State Internal Revenue Service (KW-IRS) generated N35.4 billion in the year 2022.
Прочитайте больше »
SSS arrests CBN Deputy GovernorThe CBN chief was reportedly arrested over her 'alleged fraudulent acquisition of shares in Polaris Bank, Titan Bank/Union Bank.'
Прочитайте больше »
Shettima opens North-East governors' meeting, tasks zone on unityVice President Kashim Shettima has called for stronger unity among the diverse leaders and stakeholders in the 6-state North-East to
Прочитайте больше »