Jaiz Bank Plc Posts N3.3bn 3rd Quarter Profit

• Gross income hits N18.78bn mark

BY COBHAM NSA – Nigeria’s Premier non-interest bank, Jaiz Bank Plc, has announced a 54 per cent growth in Profit Before Tax (PBT) of N3.3 billion for the period ending September 2021.

This impressive result is contained in the bank’s financial reports for the third quarter ended 30 September 2021 as released to the Nigerian Exchange Group (NEG)

The results indicated that the reported N3.3 billion PBT represents about N1.2 billion rise from the N2.1 billion recorded in September 2020.

Similarly, the Bank declared a 32 per cent increase in the gross income of N18.78 billion at the end of September 2021 from the N14.24 billion realized in September 2020.

Also, the period under review witnessed the Bank’s total assets growing by 22 per cent from N210 billion at end of September 2020 to N256 billion at the end of September 2021.

Commenting on the Bank’s inspiring results, Managing Director and Chief Executive Officer, Hassan Usman said these feats were achieved through a number of strategic initiatives, including investment in Information Technology (IT) infrastructure; better customer engagement at all levels; and strategic cost management.

An elated Usman commended the Bank’s teeming customers, shareholders, regulators, and other stakeholders for their immense support, even as he urged members of the public to take advantage of Jaiz Bank’s special financial packages to improve themselves and their businesses.

Overall, the results’ trajectory also showed that the Bank’s Shareholders’ funds for the period under review went up by 14 per cent from N17.85 billion at end of September 2020 to N20.31 billion at end of September 2021.

This is as the earnings per share for the period experienced a surge by 45 per cent from 6.28 kobo in the third quarter of 2020 to 9.09 kobo at the end of the third quarter of 2021.

Furthermore, the Bank has consistently delivered remarkable results in the last three years as well as all the three quarters in the current year, which clearly is a reaffirmation of its continuous growth trajectory as the clear leader in Nigeria’s non-interest banking space to its stakeholders and the general banking public.