Unity Bank Says Q3 2018 Pretax Profit Down -77.0%

Image result for unity bank reports loss in 2017 by investadvocate

November 2, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Mid tier lender, Unity Bank Plc on Thursday said its pretax profit for the third quarter (Q3) period ended September 2018 dipped 77.0 percent to N535.6 million from N2.32 billion recorded a year ago.

Post-tax profit of the bank also depreciated -76.5 percent to N492.7 million from N2.09 billion posted the same period of 2017.

Gross earnings of Unity Bank dropped 58.7 percent to N17.5 billion from N42.3 percent declared in the Q3 of 2018, the mid tier lender said in a filing with the Nigerian Stock Exchange (NSE).

This is came on the heels of the suspension of Unity Bank by the NSE for non-rendition of accounts.

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