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We’ll continue to support SMEs, agriculture – Jaiz Bank

The Managing Director of Jaiz Bank, Mr Hassan Usman, has said the bank would continue to support Small and medium-sized enterprises (SMEs), as well as…

The Managing Director of Jaiz Bank, Mr Hassan Usman, has said the bank would continue to support Small and medium-sized enterprises (SMEs), as well as the agriculture sector, with working capital and funding for growth and expansion.

Usman, who made the promise at a media parley in Lagos, added that the bank is committed to add value to SMEs, because of its impact on the economy and livelihood of the people.

He said 20 to 25 per cent of the bank’s portfolio is made up of SMEs because the economy needs financial institutions to support the growth of small businesses.

He added that the bank also commits about 22% of its portfolio to agriculture financing to support farmers and boost food production.

“We have an ever-growing young population coming with opportunities and the next phase of development for Nigeria is not about people looking for employment, but people becoming employers of labour to grow the economy.

“That’s why we are focusing on SMEs to empower people in order to remain a peaceful nation for growth and development of the economy,” he said.

He explained that the bank is investing in technology and partnering fintechs to support its drive to be a major player in the non-interest banking space.

“For you to meet the aspirations of customers today and tomorrow, you must invest heavily in technology and we are doing that.

“We have virtually all the channels that any conventional bank has; we have internet banking, mobile banking, USSD, POS and ATMs.

“What we are doing now is to see how we can strengthen these channels, expand the capability to have more partnerships and strategic relationships with fintech institutions that can support the next phase of our growth and trajectory,” Usman added.

 

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