Jaiz Bank Records N540m Half-Year Profit


BY COBHAM NSA, ABUJA – It is hurray to the Board, management and shareholders of Jaiz Bank Plc as their financial institution hit N540.212 million mark profit in the first half of 2017

The figure shows an impressive growth of about 254 per cent over the sum of N152.673 million recorded during the matching period in year 2016.

This is even as the Bank confirmed that the process of creating a five-year plan to further define its identity in the Nigerian banking space has commenced.

According to the unaudited report submitted to the Nigerian Stock Exchange (NSE), the bank grew its total assets to N80.662 billion in the half year of 2017 compared to N65.230 billion in the corresponding period of 2016.

It further stated that the bank’s shareholders’ fund rose to N15.248 billion in the first half of 2017 from the sum of N11.302 billion recorded during the same period last year.

Managing Director and Chief Executive Officer of the bank, Hassan Usman, who spoke on the impressive performance, attributed it to the huge support from the bank’s Board, Management and staff, in addition to “our commitment to the business model which is hinged on a better life for all our stakeholders”.

Usman said, “The results attained so far already proves we are doing better than 2016. This year will define how we move forward; we are in the process of creating a five-year plan that will further define our identity in the Nigerian banking space.”

“We have ambitious ideas about what we would like to be, and the Board and the shareholders are committed to ensuring we become a formidable player in the market”, the Managing Director said.

Giving insight on the bank’s focus for the remaining part of the year, the CEO said more branches would be opened in different parts of the country, adding that, “Our strategy is to provide retail banking to a large segment of the society who are desirous of our products and services.”

Usman stated that, “We are focused on building on our culture of ethics and taking the necessary decisions to align our perspective with client expectations.”

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