Business

Unity Bank Posts N23.6bn Gross Earnings In H1

Published

3 years ago

July 30, 2021

Adebayo

Unity Bank Posts N23.6bn Gross Earnings In H1-Crystal News

Unity Bank Plc has announced gross earnings of N23.6 billion for the six months ended June 30, representing an increase of four per cent.

The bank said this in its unaudited financials submitted to the Nigerian Exchange Limited on Friday.

The gross earnings was higher compared with the N22.8 billion posted in the comparative period of 2020.

The bank grew its bottom-line by 34 per cent as profit before tax closed at N1.50 billion from N1.12 billion in 2020.

Similarly, the profit after tax stood at N1.38 billion against N1.03 billion recorded in the corresponding period of 2020.

The lender also sustained growth the trajectory in its assets as total assets for the period rose by 11 per cent to N547.37 billion from N492.02 billion as of Dec. 31, 2020.

Other highlights of the financial statement include a 21 per cent increase in fee and commission income to N3.07 billion from N2.54 billion in the corresponding period of 2020.

Net interest income stood at N9.87 billion, representing nine per cent increase from the N9.06 billion recorded in the corresponding period of 2020.

Commenting on the result, the Managing Director, Unity Bank Plc, Mrs. Tomi Somefun, said the performance was encouraging in spite of the economic challenges.

Somefun said the double-digit growth recorded in both earnings and profits was the result of a portfolio plan, which the bank embarked on at the beginning of the year to diversify its portfolio.

She added that the bank pursued asset creation in petrochemical downstream, consumer, healthcare and general commerce, with agribusiness providing the bulwark for identified business and brand benefits.

She said the bank would be looking to strengthen its balance sheet from the liability side as it continued to grow its brand franchise in many areas of the retail market by promoting and leveraging its agriculture value chain businesses.

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Business

Bigi Carbonated Soft Drinks Treats 40 Consumers to an Epic Easter Movie Hangout

Published

2 hours ago

April 26, 2024

Adebayo

Reinforcing her commitment to a delightful consumer experience, Bigi Carbonated Soft Drinks, a leading brand from Rite Foods Limited, hosted 40 lucky fans to an impressive Easter celebration. This exciting Easter movie hangout took place at Silverbird Cinemas, Ikeja City Mall, Lagos, and featured a screening of the movie, “Beast of Two Worlds (Ajakaju)”.

The movie’s portrayal of traditional Nigerian society alongside its thrilling plot left the Bigi consumers thoroughly entertained. After the movie, the fans received exciting freebies and expressed their gratitude to the Bigi brand for this special Easter treat.

Biola Aransiola, Assistant Brand Manager, Bigi, commented on the event, highlighting Bigi’s dedication to showing appreciation to their consumers. “This movie hangout served as a way to celebrate Easter with our loyal fans and provide them with a truly extraordinary experience, all while enjoying the refreshing and diverse range of 13 Bigi flavours,” Aransiola stated.

Bigi Carbonated Soft Drinks has consistently demonstrated a strong commitment to consumer well-being. The brand actively connects with its audience by creating opportunities to fulfill their dreams and offering refreshment throughout their journeys. Bigi’s dedication to its consumers is further solidified through sponsorships of various initiatives, earning them prestigious awards such as the “Most Innovative Carbonated Soft Drink Brand of the Year” (2023), “Friendly Brand of the Year” (2023), and “Best Value for Money-Carbonated Soft Drink Brand” (2023), among others

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Business

Ooni of Ife Extends Business Frontier with Audacious Takeover of Tingo

Published

1 week ago

April 19, 2024

Adebayo

Ooni of Ife His Imperial Majesty, Enitan Adeyeye Ogunwusi

Coca Cola, Pepsi, American Cola & all other popular brands in the soft drink sector & energy drink sector should get set for an immense battle royale, which would be to the great advantage of the consumers, as the newest brand to come into that sector arrived with a massive bang yesterday! And to the admiration of all.

Tingo set of drinks launched on Tuesday, April 16, 2024, at their expansive HQ, to the admiration of all to loads of unprecedented razzmatazz/fanfare with consumers greatly giving kudos for a good job well done.

Only 2 out of 9 variants were launched yesterday. The Tingo Cola & Tingo Electric Energy drink. And already people are anticipating the other variants with bated breaths! As they were quite impressed with what they have experienced already!

To state a fact without mincing words, the taste was amazing, as was the international style packaging, too, in reusable cans, with health considerations playing a major part in the production. Sugar content was exact without affecting the taste!

Even the name of the brand Tingo is also titillating, to say the least.

All of the 9 varieties of impressive drinks are set to be unleashed powerfully into the market pretty soon like a takeover by the company now captained by none other than his imperial majesty, Alaiyeluwa Oba Adeyeye Babatunde Enitan Ogunwusi, the Ojaja II, Ooni-Orisa Olofin Adimula of Ile-Ife.

The astute businessman cum royal father is said to have bought off the company from the former owner and has deliberately kept the fascinating name of the brand.

The amiable monarch, who is a youth advocate/encourager in all ramifications, who believes fervently that the sky is the beginning, and not a limit as it concerns any endeavour one finds in his/her hand to do, spoke at the launch, thus:

‘Nigeria can lead the entire continent of Africa to compete favourably in the global market with standard goods and services, particularly when it comes to carbonated drinks, beverages, and the likes’.

Ooni went further to say that Tingo Cola and Tingo Electric; a Flavoured Carbonated and Energy drinks, respectively, produced by Tingo B.V PLC is a spin-off company from Ojaja Pan Africa Limited, explaining that Nigeria has a lot to offer the world.

“It has been my dream from childhood to have a homegrown brand that will satisfactorily produce international quality drinks that will serve Nigerians, and present the country as a leader in the African market and on the global stage.

“Currently, we have the license under which we are producing Tingo Cola, Tingo Electra, Tingo Twist (Cucumber and Cranberry) and Tingo Booze Fruit mix. All of which are produced and packaged in Nigeria with recourse to our values and standards. All to be properly integrated with Ojaja bitters, Orange, Lemon/Ginger/Orange drinks. Also, most importantly, we should all work towards elevating our homegrown brands instead of demarketing them.”

Speaking further on his involvement in the commercial activities through these products, Ooni Ogunwusi said, “I have taken it upon myself to step into the market not as businessman but as a pathfinder who will show our people how to add value for international standard in production to distribution and consumption. It is a new model that will be a win- win for everyone.

“With this, I am targeting a total of five million direct and indirect jobs for the youths, particularly through retailing, recycling, and other forms of distributorship fully driven by technology. The youths are drivers of this initiative, and we are determined to achieve this purpose through a unique, proven technology and innovation. Under our Unified ecosystem of “the more we are together, the happier we shall be”

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Business

Oando Boss Wale Tinubu Showers Encomium on Dangote @67

Published

2 weeks ago

April 11, 2024

Adebayo

Aliko Dangote with Wale Tinubu

‘Celebrate true friends. They are a part of you that always sparkle’ – Amy Leigh Mercree

The English-born actress may have had the boss of Oando Group, Jubril Adewale Tinubu in mind when she made this quote.

Truly, the trained lawyer never forgets to celebrate and appreciate his good friends whenever it is necessary. In fact, he is one gentleman who values and understands the definition of true friendship.

This played out yesterday, Wednesday, April 10, 2024, when he showered praises on his friend of many years, Africa’s richest man and Chairman of Aliko Group, Alhaji Aliko Dangote, when he clocked 67.

In celebration of Dangote, the oil and gas top player wrote:

“Happy Birthday to a visionary and accomplished entrepreneur whose impact continues to reverberate across Africa and beyond.

I hope your day has been filled with joy, laughter, and limitless blessings. May the world continue to recognise and applaud your remarkable achievements.

As you enter a new year, my prayer is that your commitment to building Africa never waivers but now and again you stop to appreciate the phenomenal difference you have made to the capacity of indigenous entrepreneurship on the global stage.

Wish you many more years in good health.

Dangote, a name that means so many things to many people. But what no one can deny is the fact that the name is essentially synonymous with success.

Since he made his mark in the nation’s business sector, many years ago, he has risen to become a glittering star in the business firmament.

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