February 7, 2023

Jaiz Bank declares N6.67bn profit

Jaiz Bank, the Premier Non-Interest Bank in Nigeria has recorded a N.67 billion Profit Before Tax, at the close of its 2022 operation year.  

The figure, according to the statement by the bank, yesterday, represented a significant increase in Profit Before Tax (PBT) by 52.63% from the N4.37 billion recorded in December 2021.

The bank also declared a 29.35% increase in gross earnings, from N25.84billion realised in December 2021 to N33.4billion at the end of December 2022.

During the period under review, the Bank’s Total Asset grew by 35.61% from N279. 27billion as at end of December 2021 to N378.69billion at the end of December 2022.

The Bank’s Earning per share for the period under review also grew by 27.69%, from N13. 8 kobo as at end of December 2021 to N17. 62 kobo as at end of December 2022.

The Bank has consistently delivered remarkable results in the last four years, which clearly is a reaffirmation of its continuous growth trajectory, being the leader in Nigeria Non-Interest Banking space to its’ stakeholders and the general banking public.

The Managing Director/CEO, Dr Sirajo Salisu, described the result as a testimony   that Islamic finance has gain acceptance among its stakeholders in Nigeria.

He said that the bank made outstanding progress despite the fluctuating currency rate and the effects of the current Russia/Ukraine war on the entire world.