The Unity Bank Plc has declared a profit after tax of N2.99 billion for the half-year ended June 30.
The News Agency of Nigeria (NAN) reports that this represented an increase of 63.4 per cent against N1.83 billion posted in the corresponding period of 2011.
This is contained in the company’s unaudited result released by the Nigerian Stock Exchange (NSE) on Monday.
It said that its profit before tax stood at N3.53 billion as against N2.15 billion recorded in 2011.
The company’s gross earnings also rose to N25.93 billion as against N20.99 billion posted in the comparative period of 2011, representing an increase of 23.5 per cent.
The company’s net assets stood at N47.35 billion as against N47.34 billion recorded in the preceding year.
NAN recalls that the bank recorded a dismal performance for the financial year ended Dec.31, 2011 with a profit after tax of N2.43 billion.
It was against N12.49 billion posted in 2010, representing a decrease of 80.5 per cent.
Also, the profit before tax stood at N3.13 billion from N13.41 in the corresponding period of 2010, representing a decrease of 77 per cent.
Its gross earnings dropped to N47.53 billion as against N64.81 billion declared in 2010, a decrease of 26.7 per cent.?