Jaiz Bank, the leading non-interest financial institution, said that its total assets increased by 86% to ₦1.08 trillion.
This was revealed by Dr. Haruna Musa, the managing director of Jaiz Bank Plc, at the conclusion of the bank’s 2024 Annual General Meeting, which took place in Abuja on Wednesday. Following the meeting, the bank announced a dividend of 7,000 kobo per share to its clients.
According to the Jaiz Bank boss, the development, when compared to N580 Billion the previous year, marked a major milestone as it crossed the one-trillion-naira thresholdSharing the success story with Journalists, Dr. Haruna Musa said the outstanding performance of Jaiz Bank for the year ended 31st December 2024 “reflect not only the resilience of our business model but also the trust and confidence reposed in us by our shareholders, customers, and stakeholders.” According to him, “Gross earnings grew by 75%, rising to N82.87 billion in 2024 from N47.24 billion in 2023, adding that Profit before tax surged by 121% to N24.44 billion, up from N11.05 billion in 2023,” He noted that Cost-to-Income Ratio improved to 60.42% from 65.26%, demonstrating enhanced efficiency in our operations.
He also added Customer deposits surged significantly by 94% to N904 billion, demonstrating increasing public confidence in Jaiz Bank, while Capital Adequacy Ratio strengthened to 23.87% from 17.96%, further enhancing the stability and soundness of the institution
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