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JAIZ Bank Grows Half Year Profit To N1.9bn

Oluwasina Phillip

The Management of Jaiz Bank Plc has released its financial results to the Nigerian Stock Exchange for the second quarter ended 31st March 2021, showing a 70.6 per cent growth in Profit After Tax from N1.17bn declared in June 2020 to N1.99bn at the end of June 2021.

The Bank’s Total Income for the period under review grew by 42.1 per cent from N6.23bn as at the end of June 2020 to N8.86bn 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 bank said on Wednesday that the consistent earnings result is 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 N3.07bn.

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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