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.
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.”