JAIZ Bank Records N4.37bn Profit In 2021

Jaiz Bank Plc has announced a 43 per cent growth in Profit Before Tax (PBT) in its audited financial results for the period ended December 31, 2021.

According to the results released to the Nigerian Exchange Group (NEG), the financial institution that prides itself as the premier Non-Interest Bank in the country witnessed a PBT growth from N3.07 billion in December 2020 to N4.37 billion in December 2021.

Similarly, the Bank recorded an increase of 31.76 per cent in Gross Income from N19.61 billion realized in 2020 to N25.84 billion in 2021.

Also, the Bank’s Total Asset grew by 19.55 per cent from N233.60 billion to N279.28 billion while Shareholders’ Funds for the period under review went up by 36.20 per cent, from N17.85 billion to N24.31 billion.

Further highlights of the audited account indicated that earnings per share during the period rose by 40.10 per cent to 13.80 kobo in 2021 compared to 9.85 kobo recorded in 2020.

Interestingly, the Bank has consistently delivered remarkable results in last couple of years, a development that clearly reaffirms its continuous growth trajectory as one of the most profitable banks in Nigeria today.

Managing Director and Chief Executive Officer of the Bank, Mr. Hassan Usman, who commented on the results, attributed the impressive achievements to its expansion progamme; prudence and to a strong commitment to excellence service delivery to our growing customer base.

Congratulating the Board, Management and staff on these laudable strides, Mr Usman appreciated the staff for their hard work; the customers for their loyalty and patronage as well as continued support from the shareholders.

He said the Bank’s growth strategy focuses on the real sector of the economy, especially agriculture, Small and Medium Enterprises (SMEs) and financial inclusion, adding that the management would not relent on the digitalization of its services and interactions to exceed customer expectations and foster operational efficiency.

“We shall continue to develop new customers, new markets and new products for both our physical and virtual channels.

“We remain committed to continuously up-scale our governance mechanism to meet best practice and regulatory requirements”, the Jaiz Bank boss assured.