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25 years after death,France ready to release $150m Abacha ‘savings’loot
…..we have completed the legal processes says French Envoy Twenty five years after his death,the government of France has disclosed it’s intention to...
Nigeria, revenue poverty and taxation atrophy
By abiodun KOMOLAFE When our forefathers came up with the wise saying that ‘the earnest wish of potters is for earth to be clay’, it was not only worthy of...
NLC,TUC declares strike Wednesday Nov8 over attack on Ajaero
The organised labour comprising of the Nigeria Labour Congress and Trade Union Congress of Nigeria has declared a plan for a nationwide strike over the beating...
Political Interference threat to National Security- Buratai
A former Chief of Army Staff (COAS), Lt.-Gen. Tukur Buratai (rtd.), says the interference of the political class in military affairs can undermine the effectiveness of...
Banditry:Niger to move all boarding schools to Minna
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Abiodun Calls For Collaboration With UNDP On Energy Transition, ICT, others
Ogun State Governor, Prince Dapo Abiodun, has called for cooperation between the State and the United Nations Development Programme (UNDP) in such critical...
Unity Bank Records N38.2 Billion Gross Earnings in Q3’23 Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended September 30, 2023, with customer deposits appreciating by 5% to N344.4 billion within the period, an indication of business growth and customer confidence in the Bank. A review of the lender’s unaudited nine-month results released to the Nigerian Exchange Group Limited showed that the Bank continued to maintain its expansionary and customer-centric model with total loans and advances rising to N222.8 billion, even as interest and similar income stood at N33 billion, which underscores the Bank’s strategic focus to reinvigorate and sustain asset creation that will deliver returns to shareholders. Other key highlights of the 9-month financials include the total assets which stood at N423.4 billion; net fee and income commission, N4.4 billion within the period. However, the recent FX regulation impacted the Bank’s bottom line, a situation that can be reversed as the Naira appreciates. Commenting on the result, the Managing Director/CEO of Unity Bank Plc, Mrs. Tomi Somefun said that the Bank is focusing on its efforts to recapitalize the institution, aggressively drive asset creation, innovate with products to compete favourably in new markets and relentlessly drive pursuit of digital Banking innovation in order to shake off and completely reverse negative positions. She stated that despite the tough operating environment, the deposit position continues to witness steady appreciation which supports the business as the Bank drives initiatives to ramp up transactions as part of its strategy for the short and medium term. “This also means that the Bank enjoys market confidence which will enable the institution thrive better in the months ahead with increased business conversion, profitability and growth needed to achieve sustainable returns,” she said. Added to the above, Somefun also stated that “the Bank is seeing encouraging uptake in its digital Banking services and with expansion envisaged in the pursuit of enhanced retail franchise, fintech partnership, consumer banking and other innovative retail loans as well as diversification of portfolio investment, the outlook remains one of optimism’’. Analysts expressed the confidence that re-engaging the market in the short and medium term by deepening the retail end of the market as part of the business strategy will drive more income streams to boost both market share and financial position in the days ahead. #
Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended September 30, 2023, with customer deposits appreciating by 5% to N344.4...
Court orders Kano government to pay N30bn for illegal demolition
A Federal High Court in Kano has directed the Kano State Government to pay N30 billion for the unlawful demolition of structures at the Kofar-Mata Eid-ground....
NLC Wants Police CP, Area Commander, Hope Uzodinma’s Aide Prosecuted Over Attacks on Ajaero in Imo
The Nigeria Labour Congress,NLC, on Friday demanded the prosecution of the Commissioner of Police in Imo State, Mohammed Barde and the Special Adviser to...
Touting:Two brothers burnt to death in Onitsha
Two male touts who are related by blood were on Wednesday burnt to death in Owerri. The incidence is coming barely one week after Anambra State Governor, Prof...
