Business
Unity Bank Posts N23.6bn Gross Earnings In H1
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.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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