Unity Bank posts N2.09bn profit in FY 2020

Unity Bank Plc on Monday published its audited report for the year end 31 December 2020.

The report revealed that the bank in 2020 made a gross earnings of N46.526 billion, up by 4.35% from N44.587 billion achieved in 2019.

The Bank reported a profit after tax of N2.086 billion, down by 38.33% from 3.383 billion reported the previous year.

Earnings per share of the bank declined by 38.33% year on year to 18 kobo from the earnings per share of 29 kobo.

At the share price of 64 kobo, the P.E ratio of Unity Bank stands at 3.59x with earnings yield of 27.89%.

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