Jaiz Bank has announced the successful completion of a N10.04 billion private placement on the Nigerian Exchange Group (NGX), following regulatory approvals from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and NGX.
The bank said this achievement places it among the financial institutions that have already met the CBN’s revised capital requirements, ahead of the June 2026 deadline.
Jaiz Bank’s financial position remains robust, with total assets standing at N1.06 trillion and shareholders’ funds reaching N47.9 billion. The bank’s Chief Executive Officer, Dr Haruna Musa, expressed satisfaction with the accomplishment, emphasising the bank’s commitment to providing ethical finance solutions to its customers.
“This milestone demonstrates our board and management’s dedication to adding value to our customers. Jaiz Bank is now well-positioned to compete effectively and fulfil customer needs through ethical and innovative financing,” said Musa.
Despite operating in a challenging environment, Jaiz Bank has shown resilience and significant growth, both in financial and non-financial metrics. With a Return on Equity (ROE) of 60.74% and a Return on Assets (ROA) of 2.18%, the bank is poised for continued success.
In early 2024, the CBN announced an increase in the capital base for commercial banks, mandating N500 billion for mega banks, N200 billion for smaller commercial banks, and N50 billion for regional banks. Non-interest banks, such as Jaiz Bank, were required to meet a capital threshold of N20 billion for national operations and N10 billion for regional operations.
The CBN’s policy aims to strengthen the banking sector and ensure stability within the financial system as part of a broader economic reform agenda. Jaiz Bank’s private placement is part of this effort to meet the CBN’s capitalisation requirements within the next two years.