The Unity Bank Plc has declared a profit after tax of N2.99bn 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 N1.83bn posted in the corresponding period of 2011.
This is contained in the company’s unaudited result released by the Nigerian Stock Exchange (NSE) yesterday.
It said that its profit before tax stood at N3.53bn as against N2.15bn recorded in 2011.
The company’s gross earnings also rose to N25.93bn as against N20.99bn posted in the comparative period of 2011, representing an increase of 23.5 per cent.
The company’s net assets stood at N47.35bn as against N47.34bn recorded in the preceding year.
NAN recalls that the bank recorded a dismal performance for the financial year ended December 31, 2011, with a profit after tax of N2.43 bn.
It was against N12.49bn posted in 2010, representing a decrease of 80.5 per cent.
Also, the profit before tax stood at N3.13bn from N13.41 in the corresponding period of 2010.