At the close of a transformative year, Jaiz Bank Plc has more than doubled its profit, crossing the ₦1 trillion asset mark for the first time in its history.
What began as Nigeria’s pioneering non-interest bank has now grown into a financial powerhouse, posting a 109% surge in profit after tax to ₦23.48 billion in 2024.
It achieved this by increasing investment income by 159% to ₦44.36 billion and raising financing contract income by 17% to ₦32.04 billion.
Assets Cross ₦1 Trillion Mark
Moreover, Jaiz Bank crossed the ₦1 trillion mark in total assets for the first time, reaching ₦1.08 trillion.
This milestone followed a 129.7% surge in Sukuk investments and a more than twofold rise in customer deposits to ₦493.69 billion.
The bank also improved its performance indicators.
It raised Return on Equity to 34.21%, increased Return on Assets to 2.26%, strengthened its capital adequacy ratio to 23.87%, and lifted its liquidity ratio to 47.35%.
Profit after tax jumped by 109% to ₦23.48 billion, more than doubling the ₦11.05 billion recorded in 2023 — a clear sign of the bank’s financial resilience.
To reward shareholders, the board proposed a 7 kobo dividend per share, up 75% from the previous year.
Read Also; GTCO Lists 2.29bn Shares On LSE At Discount To NGX Price
Strategic Vision And Innovation
Jaiz Bank reaffirmed its commitment to innovation, digital growth, and ethical finance.
It continues working towards becoming Africa’s leading ethical bank by deepening customer engagement and expanding inclusive services.
To support this mission, the bank appointed Ahmed Mohammed Indimi and Nike Kolawole to its board.
Indimi brings energy-sector expertise, while Kolawole offers global financial experience from firms like Goldman Sachs and Citibank.
