JAIZ Bank Secures Shareholders’ Nod To Raise Additional N150bn Capital

JAIZ Bank Plc has secured shareholders’ approval to raise an additional N150bn in capital as it seeks to strengthen its balance sheet and support its expansion plans across Nigeria.

The approval was granted at the bank’s 14th Annual General Meeting (AGM), held virtually on Thursday, where the institution also reported a strong financial performance for the year ended December 31, 2025.

Speaking at a post-AGM media briefing in Abuja, the Managing Director and Chief Executive Officer, Dr. Haruna Musa, said the bank recorded significant growth across key financial indicators despite a challenging operating environment characterised by inflationary pressures, exchange rate volatility, and rising living costs.

According to him, the performance underscores the resilience of JAIZ Bank’s non-interest banking model and the successful execution of its strategic initiatives.

“The 2025 financial year was another period of remarkable growth and strategic progress for our bank. We demonstrated resilience, discipline and strong execution of our strategic initiatives,” Musa said.

The bank’s total assets rose by 19 per cent from about N1tn in 2024 to nearly N1.3tn in 2025, further consolidating its position as Nigeria’s leading non-interest bank.

Customer deposits increased by more than 24 per cent, rising from N904bn to over N1.12tn, reflecting growing customer confidence in the bank’s products and services.

Net risk assets and investments expanded by 27 per cent from N671bn to N849bn, indicating increased financing of productive sectors while maintaining prudent risk management practices.

Gross earnings climbed by 24 per cent to N102.81bn from N82.87bn in the previous year, while profit before tax grew by 28 per cent to N31.24bn, compared to N24.4bn in 2024.

The bank also recorded improved operational efficiency, with its cost-to-income ratio declining to 58.09 per cent from 60.42 per cent in 2024, driven by digital transformation, process optimisation and disciplined cost management.

Its capital adequacy ratio improved to 26.89 per cent from 23.87 per cent, while the statutory liquidity ratio stood at 43.45 per cent, significantly above the regulatory minimum prescribed by the Central Bank of Nigeria (CBN).

Beyond its financial performance, Musa described 2025 as a transformational year for the bank, highlighting several milestones, including the successful rollout of its corporate rebranding campaign, “JAIZ Bank — With You for Life,” an upgrade of its credit rating by GCR from BBB- to BBB, and continued expansion of its digital and alternative banking channels.

He noted that one of the bank’s most significant achievements during the year was becoming the first African institution admitted as a primary dealer of the International Islamic Liquidity Management Corporation (IILM), a development that strengthens its standing within the global Islamic finance industry.

To support its long-term growth ambitions, Musa said shareholders approved the board’s proposal to raise an additional N150bn in capital.

Although the bank has already met the CBN’s minimum capital requirement, he said the fresh capital injection would position it for accelerated growth and expansion.

The bank plans to appoint transaction advisers and secure the necessary regulatory approvals before commencing the capital raise, which is expected to be executed in two or three tranches and concluded before the end of September 2026.

According to Musa, the exercise will place JAIZ Bank’s capital base on par with, or even above, that of some conventional commercial banks.

“The conventional players’ capital ceiling is about N200bn. With this additional N150bn, JAIZ Bank intends to be at par with, or even exceed, some of the conventional players,” he said.

He added that investor confidence in the bank has continued to strengthen, noting that its share price has risen by more than 100 per cent, from about N4 per share to nearly N9.

On branch expansion, Musa disclosed that the bank plans to increase its network from the current 55 branches to 65 by December 2026 and extend operations to all state capitals within the next two years. The bank currently operates in 26 states.

Looking ahead, Musa said JAIZ Bank would intensify efforts to promote financial inclusion through agency banking partnerships, enhanced digital banking platforms and the introduction of new retail and small and medium enterprise (SME) products, subject to regulatory approval.

He explained that the strategy is aimed at enabling customers to access financing seamlessly through mobile and internet banking channels without visiting a physical branch.

“We are very confident that the foundation laid in 2025 will give us the opportunity to achieve even greater milestones in the years ahead,” he said.