Business - Business & Economy - News - November 8, 2021

Jaiz Bank PLC posts N3.3bn profit in Q3 2021

MEDIATRACNET

Jaiz Bank Plc, Nigeria’s leading non-interest financial institution, has reported a 54 percent growth in its profit before tax (PBT) for the third quarter of 2021 ended September 30.

The quarterly financial results as released to the Nigerian Exchange Group showed profit before tax (PBT) rose from about N2.1 billion in September 2020 to about N3.3 billion in September 2021.

The Bank also declared a 32% increase in Gross Income, from N14.24 billion realized in September 2020 to N18.78 billion at the end of September 2021.

During the period under review, the Bank’s Total Asset grew by 22% from N210 billion as at end of September 2020 to N256 billion at the end of September 2021.

The Bank’s Shareholders’ Funds for the period under review also grew by 14%, from N17.85 billion as at end of September 2020 to N20.31 billion as at end of September 2021.

Details of the statement showed that the bank’s earnings per share for the period recorded a surge by about 45 percent, from 6.28 kobo in the third quarter of 2020 to 9.09 kobo at the end of the third quarter of 2021.

The latest performance of the Bank reflects its consistent delivery of remarkable results in the last three years and the whole of the three quarters in the current year.

The bank said the performance in the quarter clearly reaffirmed its continuous growth trajectory as the clear leader in Nigeria non-interest banking space to its’ stakeholders and the general banking public.

The Managing Director/CEO of the bank, Hassan Usman, said the results showed the capacity of the bank to achieve its set target, through a number of strategic initiatives, including investment in IT infrastructure, better customer engagement at all levels and strategic cost management.

Usman expressed profound appreciation to the Bank’s teeming customers, shareholders, regulators and other stakeholders for their immense support, while calling on the general public to patronise its superior banking services.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Omicron variant: Nigeria to be added to UK travel red list from Monday

MEDIATRACNET  As part of temporary measures to prevent further spread into the UK of the d…