Jaiz Bank Plc, Nigeria’s leading non-interest banking products and services provider, has reported Profit Before Tax (PAT) to N4.37 billion in its audited financial results for the financial year ended 31 December 2021, representing 43% growth from the N3.07 billion recorded in the 2020 financial year.
The financial results released to the Nigerian Exchange Group (NGX) by the lender also indicated that it recorded an increase of 31.76% in Gross Income from N19.61 billion realized in 2020 to N25.84 billion in 2021.
This is even as the bank’s total asset grew by 19.55% from N233.60 billion to N279.28 billion while shareholders’ funds for the period grew to N24.31 billion, indicating a 36.20% increase from the N17.85 billion it recorded in the preceding financial year.
The bank’s earnings per share increased by 40.10% to 13.80 kobo in 2021, from 9.85 kobo reported in 2020 financial year.
Commenting on the results, the Managing Director/CEO, Mr. Hassan Usman linked the achievements to the bank’s expansion progamme, prudence and to a strong commitment to excellence service delivery to our growing customer base.
He thanked 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.
The non-interest banking expert noted the bank’s growth strategy focused on the real sector of the economy, especially agriculture, Small and Medium Enterprises (SMEs) and financial inclusion, adding that the non-interest lender continues the digitalization of its services and interactions to exceed customer expectations and foster operational efficiency.
Usman assured: “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.”
In recent years, Jaiz Bank has consistently delivered good results, which clearly reaffirms its continuous growth trajectory as one of the most profitable banks in Nigeria.
