Jaiz Bank records over 27% increase in PAT

Nigeria’s premier Islamic bank, Jaiz Bank Plc’s unaudited financial results for the second quarter ended 30 June 2022 were released to the Nigerian Exchange Group (NGX), revealing a 27.6% increase in Profit After Tax (PAT) from N1.99 billion declared in June 2021, to N2.54 billion at the end of June 2022.

Given the performance, the Bank’s total income increased by 17.8% during the review period, from N8.86 billion for the six months ending June 2021 to N10.44 billion for half year ending June 2022.

Meanwhile, the Bank’s earnings per share increased by 8.25% during the period under review, from 6.78 kobo for the second quarter of 2021 to 7.34 kobo at the end of the second quarter of 2022.

The positive earnings result is undoubtedly reassuring, to all stakeholders and the public. It underscores the role of Jaiz as the pioneer Non-Interest Bank in Nigeria, as well as the industry leader.

In response to the outcome, Managing Director/CEO of the Bank, Hassan Usman, stated that the Bank remained committed to providing value creating ethical banking services to its growing customer base. He assured that the Bank is positioned to continue its remarkable earnings streak for the remainder of the year, by leveraging on technology and extending its touch points across the country.