JAIZ BANK PROJECTS A 2022 PRE-TAX PROFIT OF N6.67 BILLION.

The financial results for the year ending December 31, 2022, were announced by Jaiz Bank Plc. They indicate a huge increase in Profit Before Tax (PBT) of 52.63 percent, from N4.37 billion in December 2021 to N6.67 billion in December 2022.

The top non-interest bank in Nigeria reported results to the Nigerian Exchange Group that included a 29.35 percent increase in gross earnings from N25.84 billion realized at the end of December 2021 to N33.4 billion at the end of December 2022.

The bank’s total asset increased by 35.61 percent over the review period, from N279,27 billion at the end of December 2021 to N378.69 billion at the end of December 2022.

Earnings per share for the bank increased over the year under review by 27.69%, rising from N13.8 kobo at the end of December 2021 to N17.62 kobo at the end of December 2022.

The bank has regularly produced outstanding results over the past four years, reiterating to its stakeholders and the wider banking public its leadership position in Nigeria’s non-interest banking industry.

According to the managing director/CEO, Dr. Sirajo Salisu, the outcome is evidence that Nigeria’s stakeholders have come to accept Islamic finance. Despite the shifting exchange rate and the ripple effects of the ongoing Russia/Ukraine war on the entire world, the bank remarked that it has made exceptional progress.