Jaiz Bank half year profit hits N3.9bn

Jaiz Bank Plc has announced its unaudited results for half year ended June 30, 2023 with a Profit After Tax (PAT) of N3.9 billion. In a statement, the Bank declared that it had recorded a 51 per cent increase in its PAT when compared with N2.4 billion recorded in the corresponding period ended June 2022. […]

Jaiz Bank Plc has announced its unaudited results for half year ended June 30, 2023 with a Profit After Tax (PAT) of N3.9 billion.

In a statement, the Bank declared that it had recorded a 51 per cent increase in its PAT when compared with N2.4 billion recorded in the corresponding period ended June 2022.

The half year results show gross income rose by 41.9 per cent to 20.3 billion against 14.3 billion recorded the same period in 2022. Deposit Liabilities increased by 28.8 percent from 299.4 bn recorded as at December 2022 to 375.3bn in June 2023.

While the earnings per share rose by 54.9 per cent from 7.34 kobo to 11.3 kobo when compared with the corresponding period ended June 2023.

The results show an increase in key revenue lines and a strong performance in other financial metrics which reinforced the Bank’s growth prospects as the leading Non- Interest Bank in Nigeria.