Economy

Jaiz Bank posts N4.21bn annual profit

Jaiz Bank Plc has released its unaudited financial results for 2021 which show that the bank recorded a profit before tax of N4.21bn last year.

Its pretax profit rose by 37.17 per cent from the N3.07bn recorded in 2020.

The bank also declared a 31.76 per cent increase in gross income from the N19.61bn realised in 2020 to N25.84bn at the end of 2021.

According to a statement released by the bank on Tuesday, during the period under review, the bank also grew its total assets by 19.62 per cent from N233.58bn as at the end of December 2020 to N279.42bn in 2021.

It said, “The bank’s shareholders’ funds for the period under review also rose by 14.84 per cent to N20.50, from N17.85bn posted in 2020.

“Earnings per share for the period increased by 21.62 per cent from 9.85 kobo in 2020 to 11.98 kobo in 2021.”

The statement said the bank had consistently delivered remarkable results in the last four years, adding that this was a reaffirmation of its continuous growth trajectory.

The Managing Director, Hassan Usman, attributed the achievements to the bank’s footprints across the country, coupled with the strong ambition to provide par excellence service to customers while meeting their financial needs.

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