Zenith, Unity Record Pre-tax Profit Increase in Q1

Zenith, Unity record pre-tax profit increase in Q1

In separate filings on the Nigerian Stock Exchange (NSE) on Thursday, Zenith and Unity banks declared increases in pretax profit for the first quarter (Q1).

Zenith Bank said its first-quarter pretax profit rose to N28.91 billion ($179 million), up from N28.87 billion in the same period last year.

Gross earnings at the top tier lender rose 8 percent year-on-year during the three-month period to N94.32 billion.

Unity Bank increased first-quarter pretax profit 26 percent to N3.14 billion ($19.42 million) from N2.49 billion in the same period of last year.

Gross earnings rose to N14.97 billion during the three-month period, against N13.98 billion a year ago.

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