Shareholders of Jaiz Bank Plc have recorded an impressive 107 per cent gain in the first four months of the year, significantly outperforming both the broader market and the banking sector, as investor confidence in the bank's earnings outlook continues to strengthen.
Data from the Nigerian Exchange (NGX) showed that the value of investments in Jaiz Bank rose by 106.6 per cent year-to-date, nearly double the 55.69 per cent return posted by the NGX All-Share Index and well above the 50.50 per cent average gain recorded by the banking sector.
The bank's share price climbed from N4.55 at the beginning of the year to N9.40 at the weekend, underscoring strong market demand for the stock amid a broader bullish sentiment in equities.
Jaiz Bank also outpaced other key indices on the NGX. While the Premium Index returned 76.64 per cent and the
Follow us on WhatsApp | LinkedIn for the latest headlines
Pension Index gained 69.02 per cent, the NGX Lotus Islamic Index posted 94.07 per cent--still about 13 percentage points below Jaiz Bank's performance, reinforcing its position as a standout among Shariah-compliant equities.
Within the banking space, Jaiz Bank emerged as the top performer. Comparable stocks lagged behind, with Sterling Financial Holdings Company Plc gaining 8.5 per cent, Fidelity Bank Plc rising by 5.3 per cent, Wema Bank Plc posting a 67.2 per cent increase, while FCMB Group Plc declined by 7.5 per cent.
The rally highlights a sustained value-creation trend for investors. Over the past two and a half years, Jaiz Bank has delivered capital gains of 384.54 per cent, while long-term investors since 2021 have seen returns exceed 1,300 per cent.
Analysts attribute the strong performance to a combination of solid financial results, favourable macroeconomic positioning, and growing investor interest in non-interest banking. Jaiz Bank's status as the only listed full-fledged non-interest bank on the NGX has also given it a scarcity premium.
Financial results for the year ended December 31, 2025, further reinforced investor optimism. Gross earnings rose from N82.87 billion in 2024 to N102.08 billion in 2025, while profit before tax increased to N31.39 billion from N24.44 billion. Net profit climbed to N31.04 billion, compared to N23.48 billion in the previous year.
The bank's total assets expanded to N1.287 trillion, up from N1.081 trillion, reflecting continued balance sheet growth, while shareholders' funds stood at N68.34 billion, with further upside expected from profit capitalisation.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
Analysts expect the audited results, currently undergoing regulatory approval by the Central Bank of Nigeria, to align closely with the unaudited figures.
Market watchers say Jaiz Bank's performance reflects a broader shift in investor sentiment toward ethical finance and business models less exposed to interest rate volatility and foreign exchange fluctuations.
According to Kehinde Hassan, Managing Director of GTI Capital Limited, the bank's growth is being driven by its asset-backed financing model, increasing demand from small and medium enterprises, and regulatory support for diversified, non-interest income streams.
"With inflation, foreign exchange (forex) swings and tighter regulation squeezing traditional interest income, investors are shifting toward banks built on fees, partnerships and asset-backed financing. That's exactly Jaiz's model.
"CBN's push for diversified, non-interest revenue also supports the shift. As forex revaluation gains fade for conventional banks, investors are rotating into models less tied to currency volatility.
"SMEs facing high borrowing costs are leaning more toward profit-sharing and trade-finance structures, a space non-interest banks serve well. Jaiz remains the only listed full non-interest bank in Nigeria, giving it a scarcity premium when the above highlighted sentiments turn positive," Hassan, a Fellow of Chartered Institute of Stockbrokers (CIS) and Institute of Chartered Accountant of Nigeria (ICAN), said.
