Jaiz Bank grows profit by 70.6% in H1

By Kayode Tokede

Jaiz bank has announced an increase of 70.6 per cent growth in Profit After Tax (PAT) for the first half of 2021.

Financial results of Jaiz Bank Plc for the second quarter ended 31st March 2021 was released to the Nigerian Exchange Limited, showing a 70.6 per cent growth in Profit After Tax (PAT), from N1.17 billion declared in June 2020 to N1.99 billion at the end of June 2021.

The Bank’s Total Income for the period under review grew by 42.1 per cent from N6.23 billion as at end of June 2020 to N8.86 billion at the end of June 2021.

Meanwhile, the Bank’s earnings per share for the period under review jumped by 70.3 per cent from 3.89 kobo in the first quarter of 2020 to 6.78 kobo at the end first quarter of 2021.

The consistent earnings result is obviously reassuring to all stakeholders and the investing public, thus, positioning the Bank as not only the pioneer but also the leading Non-Interest Bank in Nigeria.

Speaking on the result, the Managing Director/CEO Hassan Usman said that it reflects the Bank’s positive outing in 2020, where it recorded a Profit Before Tax of N3.07 billion.

He assured that the Bank is determined to maintain the remarkable earnings streak for the rest of the year by leveraging on technology and the expansion of its retail banking portfolio.