Jaiz Bank PLC has revealed that its balance sheet has grown to about N300 billion as at the end of 2021.
This was disclosed by the Managing Director of Jaiz Bank, Hassan Usman, at Engagement Session with Ulama, as part of activities to mark the bank’s 10th years anniversary, held in Kano on Sunday.
According to Mr Usman, at its first year, Jaiz Bank had N12 billion balance sheet size, but grew to about N300 billion as at the end of last year.
The MD stated that as at 2012, Jaiz Bank had only N3 billion deposit, but as at the end of 2021, the Bank had garnered N200 billion deposits.
Mr Usman also explained that the bank has N2 billion share capital, adding that it’s growing rapidly.
“In the first and second year of Jaiz Bank, we have recorded losses. But now, we are recording profit. Out profit base goes higher in every preceding year. Even in 2020, we recorded N70 billion profit.
“We have less than one million customer base. Imagine if our customer base reach 5 million, our balance sheet would have reached a trillion naira. So, we are recording successes,” the MD said.
Mr Usman said the bank, which started with only 3 branches in Kano, Kaduna and Abuja in 2012, now had 45 branches across the country and plans are underway to open more.
Mr Usman also disclosed that the bank had spent about N130 billion to support large and small-scale businesses across the country.
He added that the bank, through a Non Governmental Organization, NGO, had supported thousands of farmers, women and small-scale business operators through its various financial systems to boost their businesses.
He pointed out that Jaiz Bank always strives to provide enabling environment to business communities in a bid to contribute its quota towards improving the economy of the country.
He urged the Ulama to use mosques as an avenue to engage and enlighten people about the benefits of the non-interest banking.
