Jaiz Bank posts N4.37bn profit for 2021

Jaiz Bank Plc audited financial results has shown a 43 per cent growth in Profit Before Tax from N3.07 billion in December, 2020, to N4.37bn in December, 2021. The results as released to the Nigerian Exchange Group also showed an increase of 31.76% in gross income from N19.61bn realised in 2020 to N25.84bn in 2021. […]

Jaiz Bank Plc audited financial results has shown a 43 per cent growth in Profit Before Tax from N3.07 billion in December, 2020, to N4.37bn in December, 2021.

The results as released to the Nigerian Exchange Group also showed an increase of 31.76% in gross income from N19.61bn realised in 2020 to N25.84bn in 2021.

Similarly, the bank’s total assets grew by 19.55 per cent from N233.60bn to N279.28bn, while shareholders’ funds for the period grew by 36.20 per cent, from N17.85bn to N24.31bn.

Earnings per share for the period increased by 40.10 per cent from 9.85 kobo in 2020 to 13.80 kobo in 2021.

In the last couple of years, Jaiz Bank has consistently delivered remarkable results, which clearly reaffirms its continuous growth trajectory as one of the most profitable banks in Nigeria.

Speaking on the results, the managing director/CEO, Mr Hassan Usman, attributed the achievements to the bank’s expansion programme, prudence and to a strong commitment to excellence service delivery to our growing customer base.

Mr Usman congratulated the board, management and staff on the achievements. “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.