Tomi Somefun: Taking Unity Bank Forward

The days continue to get brighter and brighter for Unity Bank, the Nigerian bank that insists with its slogan that it and its customers are succeeding together. The truth of that slogan has become more apparent and this is commonly understood to be the work of the bank’s able MD and CEO, the person of Oluwatomi Somefun. With current events further hallowing the bank’s prospects, perhaps Unity Bank should consider changing its slogan to ‘Tall Mountains and Deep Oceans Await Us in the Future.’

One of the best news to hit the banking industry this week is the report that Unity Bank intends to break its records by achieving at least N20.86 billion in gross earnings during the first quarter of 2023. This indicates the bank’s intention to develop a value proposition that would allow it to be approximately N21 billion richer in the next three months. Just imagine how Unity Bank’s stakeholders are whooping!

To put this projection in perspective, Unity Bank last grossed around N2.2 billion in profit. This was the total profit for three of the last quarters of the 2022 financial year. Moreover, this value accompanied an increase in gross earnings which reached about N42.2 billion for the nine months under assessment.

The fact is that things were not always so rosy for Unity Bank, even though it was not doing so badly. Needless to say, the emergence of Somefun on the board has truly transformed the bank. What other person could have raised the confidence of the entire board of directors at Unity Bank, daring them to reach much further than they have been reaching before?

So, even as Somefun intends to enable Unity Bank to earn half of its total nine-month earnings in the first quarter of 2023, her peers should take their pens and papers and notes.