JAIZ Bank Posts N3.3bn Profit In Third Quarter

Jaiz Bank Plc, the Premier Non-Interest Bank in Nigeria has released its financial results for the third quarter ended 30 September 2021.

The results as released to the Nigerian Exchange Group, showed a 54 per cent growth in Profit Before Tax, from N2.1bn in September 2020 to N3.3bn in September 2021.

The Bank also declared a 32 per cent increase in Gross Income, from N14.24bn realized in September 2020 to N18.78bn at the end of September 2021.

During the period under review, the Bank’s Total Asset grew by 22 per cent from N210bn as 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 per cent, 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 per cent from 6.28 kobo in the third quarter of 2020 to 9.09 kobo at the end of the third quarter of 2021.

A statement on Sunday said the Bank has consistently delivered remarkable results in the last three years and the whole of the three quarters in the current year.

This, it stated, is a reaffirmation of its continuous growth trajectory as the clear leader in Nigeria Non-Interest Banking space to its’ stakeholders and the general banking public.

Commenting on the results, the Managing Director/CEO, Hassan Usman said the Bank was able to achieve these feats, through a number of strategic initiatives.

Some of them nclude investment in Information Technology infrastructure, better customer engagement at all levels and strategic cost management.

He expressed appreciation to the Bank’s teeming customers, shareholders, regulators and other stakeholders for their immense support while calling on the general public to come on board.