Nigeria: Jaiz Bank records N3.3bn as Profit Before Tax in Q3 2021

Jaiz Bank Plc has recorded N3.3 billion as Profit Before Tax (PBT) in the third quarter of 2021.

The results as released to the Nigerian Exchange Group, showed a 54 per cent growth in Profit Before Tax (PBT), from N2.1 billion in September 2020 to N3.3 billion in September 2021.

According to a statement by the Management, the Bank also declared a 32 per cent 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 per cent from N210 billion as at the 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 per cent, from N17.85 billion as at the end of September 2020 to N20.31 billion as at the end of September 2021.

“Earnings per share for the period experienced a surge by 45 per cent from 6.28 kobo in the third quarter of 2020 to 9.09 kobo at the end of the third quarter of 2021.

“The Bank has consistently delivered remarkable results in the last three years and the whole of the three quarters in the current year, which clearly is a reaffirmation of its continuous growth trajectory as the clear leader in Nigeria Non-Interest Banking space to its’ stakeholders and the general banking public.”

Commenting on the results according to the statement, the Managing Director/CEO, Hassan Usman, said the Bank was able to achieve these feats, through a number of strategic initiatives which include investment in IT infrastructure, better customer engagement at all levels and strategic cost management.

He 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 come on board.