Finance

Jaiz Bank Grows H1 Profit By Over 70 Per Cent.

Jaiz Bank half year profit rises by 27.6%

Jaiz Bank has released details of its second-quarter performance ending March 31, 2021, to the Nigerian Stock Exchange, showing a 70.6per cent growth in Profit After Tax (PAT), from N1.17 billion declared in June 2020 to N1.99 billion at the end of June 2021.

According to a statement sent by Idris Ahmed, the Bank’s total income for the period under review grew by 42.1per cent from N6.23 billion at end of June 2020 to N8.86 billion at the end of June 2021.

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Also, the earnings per share for the period under review jumped by 70.3 per cent from 3.89 kobo in the first quarter of 2020 to 6.78 kobo at the end first quarter of 2021.

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The consistent earnings result is obviously reassuring to all stakeholders and the investing public, thus, positioning the Bank as not only the pioneer but also the leading Non-Interest Bank in Nigeria.

The statement quoted Managing Director/CEO of Jaiz Bank, Hassan Usman, as saying that the performance reflects the bank’s positive outing in 2020, where it recorded a profit before tax of N3.07 billion.

According to him, the bank was determined to maintain the remarkable earnings streak for the rest of the year by leveraging technology and the expansion of its retail banking portfolio.

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Source: tribuneonlineng

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