JAIZ TO OPEN 12 MORE BRANCHES THIS YEAR

Jaiz Bank plc has planned to open 12 additional branches across the country, this year.

Presently, the bank has thirteen branches, a statement from the bank said yesterday.

The statement issued by the Head of Corporate Communication of Jaiz Bank, Idris Salihu, said the banks aimed to have 25 branches by the end of the year.

The statement said: “Works are progressively going on in Yola, Zaria and a second branch in Bauchi of which we hope to commission all in the second quarter of 2014. We are also working towards adding two or more branches in Kano, Kaduna and Katsina with additional locations in Abuja. Overall, we are looking at about 25 branches before the end of the year.”

The latest entrants into the bank’s branch network are Sokoto, Bauchi and Kano bringing the total number of branches in Kano to three.

The bank commenced operations with three branches in Abuja, Kaduna and Kano states on the 6 January, 2012, after it received license from the Central Bank of Nigeria on the 11November 2011 to operate as a non-interest bank.

Other locations where Jaiz has branches are Gombe, Maiduguri, Katsina and Gusau (Zamfara State). The bank has three branches in Abuja, located at Kano House Central Business District, the National Assembly and Wuse District.

The statement said the bank has already applied for a National License to enable it expand its presence in all the state capitals of the federation, adding it is optimistic that this will come through soon.

“This will enable us meet the needs of the vast majority of Nigerians who are craving for this alternative means of banking,” said the statement, adding that the bank has raised its capital base from N5 billion it started with in 2012 to over N10 billion.

It added: “You know our bank is a specialised bank and the CBN’s requirement for a regional specialised bank is a minimum of N5 billion and N10 billion for a specialised bank like ours that wishes to obtain a national license.”

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