Jaiz Bank Posts N979.17m Profit For 2021 Q1
Jaiz Bank Plc is again counting its blessings with a 43 per cent increase in gross revenue profile as at the first quarter of this year 2021.
According to the bank, its gross revenue for this first quarter stood at N5.99 billion compared to about N4.18 billion recorded during the same period in 2020
These figures are contained in the bank’s financial results for the quarter ended March 31, 2021 released by the Nigerian Stock Exchange (NSE) for the period under review.
Continuing with its impressive performance, the bank’s Profit Before Taxation (PBT) rose significantly by 54 per cent to N979.17 million as against N636.69 million recorded in the corresponding period last year.
A statement issued by the bank said; “The consistent earnings result is obviously reassuring to all stakeholders and the investing public that the Bank will brace the tape strongly at the end of the current financial year in December 2021.”
Consequently, the statement said as the premier non-Interest bank in the country, Jaiz Bank “is expected to maintain the remarkable earnings streak and its leading position of the Non-Interest Banks in Nigeria.”
“Leveraging on technology and the expansion of its retail market drives, the Bank is set to meet its profit forecasts and dividend promise to its shareholders”, the statement also assured.
In the last financial year, Jaiz Bank paid out over N833 million as dividend to its shareholders.
Furthermore, the Bank’s earnings per share grew from 1.88 kobo in the first quarter of 2020 to 2.82 kobo in the first quarter of 2021.
Happy with the state of affairs, Managing Director and Chief Executive Officer, Hassan Usman described the results as reflecting the Bank’s positive outing in 2020, where it recorded a Profit Before Tax of N3.07 billion.
He said the COVID-19 pandemic challenges notwithstanding, current developments will strengthen Jaiz Bank to effectively work on maintaining this positive outlook throughout the year.
