Unity Bank Plc has projected gross earnings of N27
billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest
earnings forecast released to the Nigerian Exchange Group.
Although the projected gross earnings represent a marginal increase from
the N26 billion projected for Q3 2024, the lender 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% 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% 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 superlative 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.
