For the second consecutive year, judges at BusinessDay’s ‘Banks and Other Financial Institutions (BAFI) Awards have rated TAJBank Limited, Nigeria’s leading non-interest bank, as the winner of the ‘Islamic Bank of the Year Award’ 2022 for the bank’s impressive performance during the year.
In a pre-award ‘Notification of Shortlisting At BusinessDay Banks and Other Financial Institutions’ (BAFI) Awards’ letter by the management of BusinessDay dated October 13, 2022 to TAJBank management, the awards’ organisers stated: “It would not be an exaggeration to say that 2022 has been the Year of TAJ when the bank has been setting one record after the other. Having won the Islamic Bank of the Year Award at the 2021 edition of the BAFI Awards, this back-to-back shortlisting would make it a first if TAJBank wins again this year.”
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The BAFI Awards’ organisers attributed the nomination of TAJBank for the 2022 Award to the bank’s financial performance; credit rating upgrade to “Bbb” by Augusto & Co reflecting “the Bank’s good liquidity profile, satisfactory capitalization, improving profitability and a growing franchise in the Islamic banking space,” Issue of National Banking License by the Central Bank of Nigeria; and successful issuance of its N100 billion Series 1 Sukuk programme, amongst others.
After several days of appraisal of the nominees for this year’s Award, the BusinessDay management formally conferred the ‘Islamic Bank of the Year Award’ 2022 on TAJBank on November 5 this year at an impressive ceremony where hundreds of the bank’s customers described the award “as well deserved”.
Speaking on the BAFI award to the bank, the Managing Director/Chief Executive Officer of TAJBank, Mr. Hamid Joda, said, “We are excited by the award, which we have won now for the second consecutive year in justly barely less than three years of our operations and we want to assure the regulatory authorities, our stakeholders and customers that we will not relent in our efforts to consistently deliver the best to our customers in services and by so doing, grow our shareholders’ funds and returns on their investments in the years ahead,” Joda added.
