Jaiz Bank Earns Over N3bn Gross Profit In 9 Months

Abuja – The management of Jaiz Bank Plc, the premier non-interest bank in Nigeria has disclosed N3.3 billion gross profit in nine months.

In its result released to the Nigerian Exchange Group, the bank recorded 54 percent growth in Profit Before Tax (PBT), from N2.1bn in September 2020 to N3.3bn in September 2021.

Daily Trust reports that Jaiz Bank also declared a 32% increase in Gross Income, from N14.24bn realized in September 2020 to N18.78bn at the end of September 2021.

Jaiz bank
Photo: Marketing World Magazine

During the period under review, the Bank’s Total Asset grew by 22% from N210bn at end of September 2020 to N256bn at the end of September 2021.

The Bank’s Shareholders’ Funds for the period under review also grew by 14%, from N17.85bn as at end of September 2020 to N20.31bn as at end of September 2021.

Earnings per share for the period experienced a surge by 45% from 6.28 kobo in the third quarter of 2020 to 9.09 kobo at the end of the third quarter of 2021.

The Bank has consistently delivered remarkable results in the last three years and the whole of the three quarters in the current year, which clearly is a reaffirmation of its continuous growth trajectory.

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Reacting, the Managing Director/CEO, Hassan Usman said the Bank was able to achieve these feats, through a number of strategic initiatives which include investment in IT infrastructure, better customer engagement at all levels and strategic cost management.

He expressed gratitude to the Bank’s customers, shareholders, regulators and other stakeholders for their immeasurable support while calling on people to come on board.

Dangote Refinery: Experts Lauds NNPC’s Aquicision Of 20% Stake

Meanwhile, Experts in Nigeria have backed the Federal Executive Council’s approval of the acquisition of 20 per cent minority stake by the NNPC in the Dangote Petro-Chemical Refinery.

The experts made their views known in various interviews with the News Agency of Nigeria on Thursday in Lagos.

Abdullahi Abubakar

Abdullahi Abubakar is a graduate of the University of Maiduguri.He is a teacher and passionate about Journalism and writing in general. He works with Today Post as a senior Editor and is currently living in Gombe.

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