The management of Jaiz Bank Plc said it promoted 216 staff and raised step increments for 193 others as part of the bank’s tradition of rewarding and motivating employees for higher productivity.
It said this was done after concluding the 2019 appraisal for all staff. The Managing Director/Chief Executive of the Bank, Hassan Usman, at the recent Annual General Meeting (AGM) disclosed that 409 staff benefited from the exercise.
“The management wants the bank to continue to remain a great place to work for all staff, and to make it easier for them to do what they do best-delighting our numerous customers,” Usman said in a statement.
He also said there was a correlation between the performance-based incentives recently approved by the board and the overall performance of the bank in 2019, adding that the year was good and the bank was hopeful in 2020 despite the COVID-19 pandemic effects.
Also speaking at the NTA Good Morning Nigeria Show on Monday, Usman said Islamic banking worldwide has increasingly grown by 15 percent.
He said for the last four years, the balance sheets growth of the bank has been around 50 percent, closing year 2019 with N162bn billion.
“If you look at our earnings, in 2018 we had less than N9bn, by 2019 we had almost N15bn, which is almost 65 percent growth. On profitability, we closed 2018 at about N900 million and by 2019, we closed at N2.1bn in profitability, which means over a 100 percent growth.”
