REAL REASON HENRY JAMES SEMENITARI RESIGNED AS UNITY BANK’S GMD

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Contrary to insinuation in a section of online media that the Managing Director/CEO of Unity Bank Plc, Henry James Semenitari has proceeded on compulsory leave or sacked owing to boardroom squabbles and fraud among others, impeccable sources told OrijoReporter that the rumour was baseless.

Rather, it was said that the former Unity Bank GMD resigned his appointment after 18 months at the helms of affair of bank to pursue other endeavours.

The 2014 Leadership Newspaper Banker of the Year, an award he won after he took Unity bank from a shrinking asset base to the position of seventh largest bank in Nigeria, with shareholder’s fund at N51.2 billion, Semenitari would be remembered for his giant strides in repositioning Unity Bank.

He successfully pulled Unity Bank from a financial loss position of N33 billion as at December 2013, which the bank inherited, to a profit before tax of N13.6 billion as at December 2014 financial year, being his first year of management.

During his tenure, the bank’s active customer base increased from less than 100,000 to over 800,000 accounts.

By the end of June 2015 financial year, the bank’s gross earnings rose to N33.56 billion against N30.85 billion last year, while profit was N7.89 billion in 2015 compared with N7.10 billion the same period of the corresponding year (HY) 2014.

Today, Unity Bank’s total assets have increased by 3.90 percent to stand at N429.66 billion compared with N413.30 billion in 2014-thanks to Henry James Semenitari’s expertise.

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