Nigeria’s premier non-interest bank, Jaiz Bank Plc, has announced an impressive financial performance for the third quarter (Q3) of 2020, recording a massive jump in the bank’s profit and earnings per share.
Jaiz Bank, in a statement signed by its spokesman, Idris Ahmed, recorded 48 percent growth in earnings per share from 4.25 kobo in the third quarter of 2019 to 6.28 kobo as at September 30, 2020.
The bank’s profit after tax (PAT) grew by 47.72 percent from N1.25 billion earned in the corresponding period of 2019 to N1.85 billion at the end of September 2020.
Jaiz Bank’s financial account further shows a 44.36 percent increase in profit before tax (PBT) from N1.47 billion in Q3 of 2019 to N2.13 billion in the period under review.
In addition, the total assets of the bank rose to N210 billion at the end of Q3 this year compared to N167 billion in the corresponding period of 2019.
This indicated an increase of 25.67 percent in the total assets.
For gross income, the bank declared N13.65 billion at the end of the quarter under review, representing 45.71 percent growth over the N9.37 billion reported in Q3 of 2019.
Commenting on the performance, Managing Director of Jaiz Bank, Mr. Hassan Usman, said the 3rd quarter results demonstrated the bank’s capacity to grow sustainably in line with its strategic vision of becoming the leading non-interest bank in Sub-Saharan Africa.
He assured that the bank will maintain steady focus on elements that contributed to the improved performance.
The bank has submitted its third quarter financial account to the Nigerian Stock Exchange (NSE).
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