Jaiz Bank declares N6.67bn profit before tax in 2022

Nigeria’s non-interest premier bank, Jaiz Bank has announced a profit before tax earnings of N6.7bn for the year 2022.

According to the Bank, the financial statement released to the Nigerian Exchange Group, showed a significant increase in Profit Before Tax (PBT) by 52.63% from N4.37bn in December 2021 to N6.67bn in December 2022.

The Bank also declared a 29.35% increase in Gross earnings, from N25.84bn realised in December 2021 to N33.4bn at the end of December 2022. 

Part of the statement reads: “During the period under review, the Bank’s Total Asset grew by 35.61% from N279. 27bn as at end of December 2021 to N378.69bn at the end of December 2022. 

Jaiz Bank declares N6.67bn profit before tax in 2022

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The Bank’s Earning per share for the period under review also grew by 27.69%, from N13. 8 kobo as at end of December 2021 to N17. 62 kobo as at end of December 2022,”

Commenting on the financial performance, the Managing Director/CEO, Dr Sirajo Salisu said “The result is a testimony that Islamic finance has gained acceptance among its stakeholders in Nigeria. The bank has made outstanding progress despite the fluctuating currency rate and the effects of the current Russia/Ukraine war on the entire world.”