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Jaiz Bank Posts N1.3bn Profit, To Focus More On Agric, MSMEs Lending

The Managing Director/Chief Executive Officer, Jaiz Bank Plc, Mr. Hassan Usman, said the bank made a profit of N1.3bn for the period ended December 31, 2021.

The result as released to the Nigerian Exchange Group, showed a 43 per cent growth in Profit Before Tax from N3.07bn in December 2020 to N4.37bn in December 2021.

This is on the backdrop of an increase of 31.76 per cent in Gross Income from N19.61bn realized in 2020 to N25.84bn in 2021.

He highlighted the bank’s total asset which grew by 19.55 per cent from N233.6bn in 2020 to N279.28bn in 2021, while shareholders’ funds for the period grew by 36.20 per cent, from N17.85bn to N24.31bn.

Usman also announced that the Earnings Per Share for the period rose by 40.10 per cent from 9.85 Kobo in 2020 to 13.80 Kobo in 2021.

The Jaiz Bank CEO expressed satisfaction with the consistent remarkable results delivered over the last couple of years, which according to him clearly reaffirms its continuous growth trajectory as one of the most profitable banks in Nigeria.

Usman also attributed the achievements to the bank’s expansion progamme, good judgment and to a strong commitment to excellence service delivery to growing its customer base.

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.

He stated that the bank’s consistent digitalization of its services and interactions is set in motion to exceed customer expectations and foster operational efficiency.

Usman said, “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.”

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