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iBanking

JAIZ BANK DECLARES N979.17 MILLION PROFIT FOR Q1, 2021

by Jaiz Bank / Wednesday, 05 May 2021 / Published in Press Release
Abridged 1st Quarter March

Financial result of Jaiz Bank Plc for the first quarter ended 31 March 2021 was released to the Nigerian Stock Exchange, the result show that the Bank’s gross revenue increased by 43% over the same period last year, from N4.18 billion to N5.99 billion. Profit before taxation increased significantly by 54% which amounted to N979.17 million as against N636.69 million recorded in the same period last year.

The consistent earnings result is obviously reassuring to all stakeholders and the investing public that the Bank will brace the tape strongly at the end of the current financial year in December 2021. Jaiz Bank, as the premier Non-Interest Bank in Nigeria is expected to maintain the remarkable earnings streak and its leading position of the Non-Interest Banks in Nigeria.

Leveraging on technology and the expansion of its retail market drives, the Bank is set to meet its profit forecasts and dividend promise to its shareholders.

In the last financial year Jaiz Bank paid out over N833 million as dividend to its shareholders. Meanwhile, the Bank’s earnings per share increased from 1.88 kobo in the first quarter of 2020 to 2.82 kobo in the first quarter of 2021.

Speaking on the result, the Managing Director/CEO Hassan Usman said that the result reflects the Bank’s positive outing in 2020, where it recorded a Profit Before Tax of N3.07 billion. He assured that with this development and despite the pandemic, the Bank is positioned to maintain this positive outlook for the whole year.

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About Jaiz Bank PLC

Jaiz Bank PLC is a national bank and a quoted public company owned by over 26,000 shareholders spread over the six geo-political zones of Nigeria.The Bank’s balance sheet has grown from N12 billion in 2012 to about N233 billion with asset financing of over N166 billion (as at December 31st, 2020).

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  • Address: Jaiz Bank House, Plot 1073 J.S. Tarka Street, Area 3, Garki Abuja. P.M.B 31 Garki, Abuja, Nigeria.
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