Business - Business & Economy - News - June 25, 2021

TAJBank committed to value-addition, amid over 6,066% gross earnings in 2020

Investors hail Board, Management for posting over 471% growth in Profit Before Tax

MEDIATRACNET

To ensure sustainability and guarantee expansive benefits to its shareholders, customers, employees and all stakeholders, TAJBank says it is committed to strategies to promote value addition for all its investors and the Nigerian financial system.
The chairman, Board of Directors of the bank, Tanko Isiaku Gwamna, stated this in Abuja during the 2nd Annual General Meeting (AGM) on Thursday.
“The 2020 financial year was a remarkable year for the bank in terms of investment, market penetration, growth, expansion and strong financial and strategic performance that enabled the bank to position itself as one of Nigerian growing banks.
“Our commitment to the creation of optimal shareholders’ value addition for all our shareholders and the Nigerian financial system remains solid and expansive,” he said.
During the financial year, the bank reported outstanding improvements in its gross earnings, which grew from by over 6,066 percent in the financial year to N3.456 billion; 471 percent growth in Profit Before Tax (PBT) ; deposit growth rate of 1,524 percent, Return on Equity rose by 361 percent, and an exponential growth in customer base from 1,809 to 103,853, among other positive performance indices.
Gwamna linked the Bank’s superlative performances to exceptional service delivery strategies, robust investments and deployment of critical technologies and solutions and responsive operational system.
Noting the increasing roles of the social media as an indispensable tool for customer relationship management, value addition and complaint resolution, the Chairman of non-interest bank said TAJBank leveraged on investments in key technologies to improve its visibility on Facebook, Instagram, LinkedIn, Google+ and WhatsApp media platforms.
Although he said TAJBank’s priority was to ensure optimum performance and value addition across all stakeholders, Gwamna said the bank’s medium and long term target “is to be among the recipients of key awards on product and service innovation, consistently transparent corporate governance practices and service excellence through the utilization of its creative workforce and excellent management team.”
He also harped on the bank’s relentless efforts to upscale its Corporate Social Responsibility (CSR) activities in line with its vision of funding programmes and projects that promote financial inclusion, economic prosperity, equal access to opportunities, sustainable development and promote global prosperity in its host communities and the larger Nigerian society.
During the meeting, shareholders of TAJBank Limited, one of Nigeria’s leading non-interest banking products and services provider, hailed its board and management for its impressive performance in its first year of operations.
The investors ssid they were excited over the Bank’s promise towards continued commitment to the realisation of the vision and mission of the innovation-driven lender in the years ahead.
During a post-AGM media interactive session, one of the key shareholders of the bank, Lawal Garba, said the shareholders were “very happy with the board and management of the bank for the impressive performance recorded during the year, particularly on the innovation they have brought into non-interest banking in Nigeria.
“We are also very impressed with their entrepreneurship drive which has impacted on the way the bank is growing and we are all very impressed and wish the bank more successful years ahead.
“Also, we are want to encourage the management to continue with the mandate they have been given by redoubling their efforts towards the full realisation, though the efforts they have put in so far have been commendable.
“Overall, we are very impressed with their superlative performance”, Garba added.

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