Unity Bank grows H1 results by 14 %, leaps into highest e-banking earners

&NewLine;<p>Unity Bank has grown its total operating income by 14 per cent in the first half of 2020&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The financial services provider’s earnings peaked at N12&period;138 billion in 2020 from N10&period;688 billion in the same period in 2019&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Similarly&comma; the bank’s &nbsp&semi;N1&period;3 billion earnings &nbsp&semi;through electronic banking has placed it &nbsp&semi;among the top 10 highest earners in Nigeria&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>This was according to a Nairametrics research report released recently&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The Bank’s performance is not unconnected with its aggressive push in digital banking in recent years&period; It &nbsp&semi;spearheaded the launch of several cutting-edge digital baking solutions&period; This included a youth-focused mobile banking solution called UniFi and a robust internet banking platform&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Earlier in the year&comma; Unity Bank launched multi-lingual USSD banking&comma; the first in Nigeria’s banking industry&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Industry watchers opine that the bank’s aggressive reforms over the past three years are yielding dividends&period; <a href&equals;"http&colon;&sol;&sol;www&period;guardian&period;ng"> The bank <&sol;a>returned to profit position in 2019 when it recorded a N4&period;061 billion gross profit&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The bank’s 2019 impressive performance has been improved upon in 2020&period; Its gross earnings stand at N22&period;8 billion between January and June 2020&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>According to its unaudited financials submitted to the Nigeria Stock Exchange&comma; the H1 gross earnings rose 11 per cent to <a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">N22&period;865 billion<&sol;a> from N20&period;547 billion in 2019&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>&nbsp&semi;Profit Before Tax grew by 7 per cent from N1&period;051 billion in H1 2019 to N1&period;120 billion in 2020&period; Profit After Tax equally rose by 7 per cent to N1&period;030 billion from N967&period;514 million in the corresponding 2019&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The bank however&comma; showed strength in agribusiness by 19 per cent&period; It earned &nbsp&semi;N306&period;472 billion as against N257&period;691 billion as at December 2019&period;<&sol;p>&NewLine;