Jaiz Bank Grows Profit To N4.3bn In 2021
Jaiz Bank Plc has announced a 48 per cent growth in profit, increasing to N4.3 billion in 2021 from N2.9 billion in the previous year.
The profit came from the growth of its earnings which climbed 32 per cent to N25.8 billion in the review period, from N19.6 billion pooled in 2020.
The Premier Non-Interest Bank in Nigeria in its audited financial results for the period ended 31 December 2021 submitted to the Nigerian Exchange Group reported an N163 billion tax on the N19.6 billion earnings in 2020 while the tax crashed to N73 billion, a difference of 55 per cent on the 2021 operations which showed N25.8 billion.
The bank equally grew its Total Asset by 19.55 per cent to N279.28 billion from N233.60 billion while its Shareholders’ Funds grew by 36.20 per cent in 2021 to N24.31 billion from N17.85 billion in the previous year.
Earnings per share for the period increased by 40.10 per cent from 9.85 kobos in 2020 to 13.80 kobos in 2021.
Jaiz Bank has in the last couple of years delivered consistently, remarkable results which reaffirm its continuous growth trajectory as one of the most profitable banks in Nigeria.
Speaking on the results, its Managing Director, Hassan Usman attributed the achievements to the Bank’s expansion programme, prudence and a strong commitment to excellent service delivery to our growing customer base.
He congratulates the Board, Management and staff on these achievements, acknowledging the staff for their hard work, customers, loyalty and patronage and continued support from shareholders.
He said the Bank’s growth strategy focuses on the real sector of the economy, especially agriculture, Small and Medium Enterprises (SMEs) and financial inclusion.
He said the Bank continues the digitalization of its services and interactions to exceed customer expectations and foster operational efficiency.
“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”, Usman noted.
Comments are closed.