Unity Bank Plc shareholders with the bank projecting gross earnings of N27 billion and a Profit After Tax (PAT) of N4 billion in the fourth quarter of 2024.
In the latest earnings forecast released to the Nigerian Exchange Group (NEG), the Bank said though the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, it continues to maintain a profitable outlook, with pre-tax profit expected at N4.2 billion.
An analysis of the earnings forecast shows that the lender also expects interest income to rise from N23 billion to N24.5 billion, with net revenue expected to rise marginally by 1.0 percent to N7.2 billion within the quarter compared to N6.5 billion in Q3, 2024.
Net operating income is projected at N12 billion, while cash flow from financing activities is projected to rise to N481.4 billion from N353.6 billion, a 1.3 percent projected increase on a quarter-on-quarter basis.
This projected growth in cash flow from financing activities continues to reflect the lender’s growing liquidity position which is essential for sustained business operations.
According to the Bank, it expects to cover the milestones with a consistent optimistic outlook in its projection, barring any significant changes in the operating environment, under which the assumptions were made.
Additionally, the management said it will continue to deliver top-notch customer-centric products and services, especially in the digital lending space following the roll-out of enhanced platforms and channels for superlative customer experiences.
Meanwhile, financial analysts have expressed the view that the fourth quarter forecast reflects a steady growth trajectory on the back of key performance indicators and strategic repositioning to hedge the challenging market conditions.
