Nigeria: Jaiz Bank Records 70% Profit Growth in H1

5 August 2021

Jaiz Bank Plc has recorded a 70.6 per cent profit growth in the first half of this year, according to the financial results for its second quarter ended June 2021.

The results released to the Nigerian Exchange, show a 70.6% growth in Profit After Tax (PAT), from N1.17 billion declared in June 2020 to N1.99bn by June 2021.

The Bank's Total Income for the period under review grew by 42.1% from N6.23bn in June last year to N8.86bn by June this year.

Meanwhile, the bank's earnings per share during the period rose by 70.3% from 3.89 kobo in the first quarter of 2020 to 6.78 kobo at the end first quarter of 2021.

The bank in a statement said, the consistent earnings result is obviously reassuring to all stakeholders and the investing public, thus, positioning it 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 it reflects the Bank's positive outing in 2020, where it recorded a Profit Before Tax of N3.07bn.

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.

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