Adebayo Obajemu

The financial report of Unity Bank for quarter one ended 31, March 2020 shows that the bank improved in its topline and bottom line figures.

The unaudited financial statement revealed that the Bank advanced in gross earnings to N11.856 billion, from the gross earnings of N10.050 billion in Q1 2019.

Profit before tax appreciated by 9% to N550 million from N505 million reported in the first quarter of 2019.

Unity Bank in three months posted N506 million as profit after tax, soared by 8.86% when compared with the profit after tax of N465 million reported in the first quarter of 2019.

The bank EPS grew by 8.86% from N0.040 in Q1,2019 to N0.043 in the current period under review.

With reference to the share price of N0.52, the P.E ratio of Unity Bank stands at 12.01x with earnings yield of 8.33%