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Jaiz Bank generates N4.37bn profit in 2021

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Jaiz Bank Plc, the Premier Non-Interest Bank in Nigeria has released its audited financial results for the period ended 31 December 2021.

The results as released to the Nigerian Exchange Group showed a 43% growth in Profit Before Tax from N3.07billion in December 2020 to N4.37 billion in December 2021.

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

Similarly, the Bank’s Total Asset grew by 19.55% from N233.60 billion to N279.28 billion while Shareholders’ Funds for the period grew by 36.20%, from N17.85 billion to N24.31 billion.

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Earnings per share for the period increased by 40.10% from 9.85 kobo in 2020 to 13.80 kobo in 2021.

In the last couple of years, Jaiz Bank has consistently delivered remarkable results, which clearly reaffirms its continuous growth trajectory as one of the most profitable banks in Nigeria.

Speaking on the results, the Managing Director/CEO, Hassan Usman, attributed the achievements to the Bank’s expansion progamme, prudence and to a strong commitment to excellence service delivery to our growing customer base.

Mr Usman congratulated the Board, Management and staff on these achievements, acknowledging the staff for their hard work, customers, for loyalty and patronage and continued support from shareholders.

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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 said the Bank continues the digitalization of its services and interactions to exceed customer expectations and foster operational efficiency.

Mr. 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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