Finance

Jaiz Bank grows profit by 37% to N4.2b

Jaiz bank relocates head office 

Nigeria’s first non-interest bank, Jaiz Bank Plc continued on a strong growth path with double-digit growths in the top-line and bottom-line in 2021.

Key extracts of the unaudited results for the year ended December 31, 2021 released at the Nigerian Exchange (NGX) showed that gross income rose by 31.76 per cent from N19.61 billion in 2020 to N25.84 billion in 2021. Profit before tax grew by 37.2 per cent from N3.07 billion in 2020 to N4.21 billion in 2021. With these, earnings per share increased by 21.6 per cent from 9.85 kobo in 2020 to 11.98 kobo in 2021.

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The balance sheet of the bank also emerged stronger. Total asset grew by 19.62 per cent from N233.58 billion in 2020 to N279.42 billion in 2021. Shareholders’ funds also rose by 14.84 per cent from N17.85 billion in 2020 to N20.50 billion in 2021.

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Managing Director, Jaiz Bank Plc, Mallam Hassan Usman said the bank has consistently delivered remarkable results over the years, and the latest result is a reaffirmation of the continuous growth trajectory and the bank’s leadership status in Nigeria’s non-interest banking space.

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He commended the board, management and staff on the performance of the bank noting that the results over the years show the immense hard work of staff, excellent service delivery to customers and support from shareholders.

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