Unity Bank Plc has released its latest earnings forecast, projecting gross earnings of N27 billion and a Profit After Tax of N4 billion for Q4 2024. The lender expects a marginal increase in gross earnings from the N26 billion projected for Q3 2024, maintaining a profitable outlook with a pre-tax profit of N4.2 billion.
According to the forecast, interest income is expected to rise from N23 billion to N24.5 billion, with net revenue projected to increase by 1.0% to N7.2 billion. Net operating income is projected at N12 billion, while cash flow from financing activities is expected to rise to N481.4 billion, a 1.3% increase from Q3 2024.
The lender stated, “We expect to cover the milestones with a consistent optimistic outlook in our projection, barring any significant changes in the operating environment, under which the assumptions were made.”
Unity Bank also emphasized its commitment to delivering customer-centric products and services, especially in digital lending, following the roll-out of enhanced platforms and channels for improved customer experiences.
Analysts view the Q4 forecast as a reflection of steady growth, driven by key performance indicators and strategic repositioning to navigate challenging market conditions.
