Nigeria's Unity Bank records 900% jump in profitStaff writer ▼ | October 7, 2014
One of Nigeria's leading financial lender Unity Bank said its pretax profit for the first nine months of its financial year jumped 900.3 percent to N12.01 billion ($73.13 million) from N1.20 billion in the corresponding period of last year.
Excellent results $73.13 million for the first nine months
The 38.45 billion shares, sold at N0.50 each, was oversubscribed, with the bank to saying it will refund excess subscription monies to shareholders.
One of the very few Nigerian banks headquartered in capital city of Abuja, Unity Bank recently signed a partnership with global communications provider, SkyVision Global Networks Ltd for its satellite-based Virtual Private Network (VPN) services to connect the bank's head office to its numerous branch offices nationwide. ■