{"id":18436,"date":"2017-10-23T13:35:03","date_gmt":"2017-10-23T12:35:03","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18436"},"modified":"2017-10-23T13:35:03","modified_gmt":"2017-10-23T12:35:03","slug":"unity-banks-capital-base-hits-n80bn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/unity-banks-capital-base-hits-n80bn\/","title":{"rendered":"Unity Bank\u2019s capital base hits N80bn"},"content":{"rendered":"

Unity Bank Plc\u2019s capital base has hit N80 billion, up from N31 billion in 2014, Mr. Thomas Etuh, former Chairman, Board of Directors, has said.<\/p>\n

Etuh, the immediate past board chairman of the bank said in a post-retirement interview with journalists in Abuja that the growth was recorded under his watch, between 2014 and 2017.<\/p>\n

Etuh who retired as the bank\u2019s board chairman a fortnight ago explained that the bank was able to achieve the feat because of its \u201cagric business\u201d banking.<\/p>\n

\u201cYou know Unity Bank is number one in agriculture, in terms of agric lending to smallholder farmers; we also have a product for youths because youths own this generation.<\/p>\n

\u201cI came into Unity Bank in time of recapitalisation under Mohammed Sanusi as the CBN Governor and we recapitalised the bank to get it to a national bank where it is today.<\/p>\n

\u201cInterestingly, we are leaving the bank in the capital excess of N80 billion from the N31 billion that we met it,\u201d Etuh said.<\/p>\n

According to Etuh, \u201cthe successes recorded by the bank did not come without the contributions of its two major co-shareholders, former President Olusegun Obasanjo and ex-military President Ibrahim Badamasi Babangida.<\/p>\n

He said: \u201cObasanjo and Babangida came up with that name \u2018Unity\u2019 after the merger of some Southern and Northern banks.<\/p>\n

\u201cThe merger means a lot for Nigeria\u2019s unity. So, having nine banks from different entities, it behoves on the board to also merge the different banks\u2019 culture into one; and that, we did to make it a national bank.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cYou can see that the bank has flourished in various products which have brought it to stability, and I won\u2019t say it was achieved singlehandedly; it was a collective effort of the board and management.<\/p>\n

The former Unity Bank board chairman named the merged banks to include Bank of the North, Tropical Commercial Bank, Intercity Bank, African Merchant Bank, First Interstate Bank, New Nigerian Bank and Societe General Bank.<\/p>\n

Etuh said that he retired from the bank to focus on agriculture.<\/p>\n

\u201cI retired to start something new in developing the frontier of the agric sector which has always been my first love.<\/p>\n

\u201cI have given a notice since last year that I will be retiring as the bank\u2019s board chairman after I have spent some years.<\/p>\n

\u201cI am leaving the board of the bank, but am a co-shareholder, so, it means that I am still in Unity Bank. I am retired but not tired,\u201d he said.<\/p>\n

NAN<\/p>\n","protected":false},"excerpt":{"rendered":"

Unity Bank Plc\u2019s capital base has hit N80 billion, up from N31 billion in 2014, Mr. Thomas Etuh, former Chairman, Board of Directors, has said. Etuh, the immediate past board chairman of the bank said in a post-retirement interview with journalists in Abuja that the growth was recorded under his watch, between 2014 and 2017. …<\/p>\n","protected":false},"author":6,"featured_media":17720,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[36,740,575,2775],"coauthors":[2391],"class_list":["post-18436","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-cbn","tag-nse","tag-sec","tag-unity-bank"],"yoast_head":"\nUnity Bank\u2019s capital base hits N80bn - National Wire<\/title>\n<meta name=\"description\" content=\"Unity Bank Plc\u2019s capital base has hit N80 billion, up from N31 billion in 2014, Mr. Thomas Etuh, former Chairman, Board of Directors, has said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/unity-banks-capital-base-hits-n80bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unity Bank\u2019s capital base hits N80bn - 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