Here are the highlights of Unity Bank annual report 2018 as released to the Nigerian Stock Exchange.
- Total Asset increased by 51% from N157 billion in 2017 to N236 billion in 2018 FY
- Customer Deposit however dropped by 4% from N252 billion in 2017 to N242 billion in 2018 FY.
- Loans and advances increased by 387% from N9 billion in 2017 to N44 billion in 2018.
- For PBT, the bank was able to rig itself out of the N14.7 billion loss in 2017 to a positive value of N1.4 billion in 2018 financial year.
- Net Interest income also dropped significantly by 73% to N14 billion from N51.2 billion in 2017 FY.
Here is a look at Unity annual report and 5 years financial performance
- Total Asset dropped by 42% in the 5 years period from N413 billion to N236 billion in 2018 FY.
- Customer deposit also dropped by 12% from N274 billion in 2014 to N242 billion in 2018.
- The bank also lost over 80% of its customers loans and advances within the 5 years review period.
Unity Bank annual report
Unity have had a very turbulent 5 years as it has been dropping on all parameter. The PBT is not an exception as it dropped to a negative of N14.2 billion in 2017 before less than industry average performance of N1.4 billion in 2018.