Business - Business & Economy - News - August 4, 2021

JAIZ Bank half year 2021 earning climbs by 71%

PAT grew from N1.17bn in June 30, 2020 to N1.99bn in June 30, 2021

MEDIATRACNET

Jaiz Bank Plc on Wednesday announced its Profit After Tax (PAT) captured in the financial results for the second quarter ending June 30, 2021 grew by 70.6 percent.

The profit recorded in the financial statement released to the Nigerian Stock Exchange (NSE) showed the profit grew from N1.17 billion declared in June 2020 to N1.99 billion at the end of June 2021.
The statement also showed the Bank’s total iincome for the period under review increased by 42.1 percent, from N6.23 billion as at end of June 2020 to N8.86 billion at the end of June 2021, despite the negative impact COVID-19 pandemic on the global economy.
Meanwhile, the Bank’s earnings per share for the period under review jumped by by 70.3 percent, from N3.89 kobo in the first quarter of 2020 to N6.78 kobo at the end first quarter of 2021.
The consistent earnings result, the Managing Director/Chief Executive Officer, Hassan Usman, said was obviously reassuring to all stakeholders and the investing public.
The performance, Usman said, has positioned the Bank as not only the pioneer, but also the leading non-interest bank in Nigeria.
On the result, the MD said it reflected the Bank’s positive outing in 2020, with a Profit Before Tax of N3.07 billion.
He assured that the Bank was determined to maintain the remarkable earnings streak for the rest of the year, by leveraging on technology and the expansion of its retail banking portfolio to bring in more customers under the non-interest banking net.