Unity Bank Plc has projected gross earnings of 27 billion Naira and a Profit After Tax of 4 billion Naira in Q4 of 2024, in its latest earnings forecast released to the Nigerian Exchange Group.
Although the projected gross earnings represent a marginal increase from the 26 billion Naira projected for Q3 of 2024, the lender continues to maintain a profitable outlook, with pre-tax profit expected at 4.2 billion Naira.
An analysis of the earnings forecast shows that the lender also expects interest income to rise from 23 billion Naira to 24.5 billion Naira, with net revenue expected to increase marginally by 1.0percent to 7.2 billion Naira within the quarter compared to 6.5 billion Naira in Q3 of 2024.
Net operating income is projected at 12 billion Naira, while cash flow from financing activities is projected to rise to 481.4 billion Naira from 353.6 billion Naira, 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.
The lender said 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.
The lender noted that 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 excellent customer experiences.
Analysts are of the view that the Q4 forecast reflects a steady growth trajectory on the back of key performance indicators and strategic repositioning to hedge the challenging market conditions.