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JAIZ Bank Reports Over 70% Profit Growth In H1 2021

Jaiz Bank Plc has released its financial results of for the second quarter ended 30 June 2021 to the Nigerian Stock Exchange (NSE), indicating a 70.6% growth in Profit After Tax (PAT), from N1.17 billion declared in June 2020 to N1.99 billion at the end of June 2021.

The results further showed that bank’s total Income for the period under review grew by 42.1% from N6.23 billion as at end of June 2020 to N8.86 billion at the end of June 2021.

This is even as the non-interest lender’s earnings per share (EPS) for the period under review increased by 70.3% from 3.89 kobo in the first quarter of 2020 to 6.78 kobo at the end first quarter of 2021.

Speaking on the results, the Managing Director/CEO Hassan Usman, said that the figures reflected the bank’s positive outing in 2020, where it recorded a Profit Before Tax (PAT) of N3.07 billion.

He assured that the Bank is determined to maintain the remarkable earnings streak for the rest of the year by leveraging on technology and the expansion of its retail banking portfolio.

Analysts believe that the consistent improving earnings result is obviously reassuring to all stakeholders and the investing public, thereby positioning the bank as not only the pioneer but also the leading non-interest bank in the country.

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