FY20 23: Jaiz Bank records N2.3bn growth in gross profit

Jaiz Bank Plc has declared a N6.67 billion Profit Before Tax (PBT) for the 2022 financial year ended December 31, a significant growth of about N2.3bn from the figure declared in 2021.

According to its unaudited result released to the Nigerian Exchange Group, the PBT grew by 52.63 per cent from N4.37bn in December 2021 to N6.67bn in December 2022.

The bank also declared a 29.35% increase in gross earnings, from N25.84bn realised in December 2021 to N33.4bn at the end of December 2022.

During the period under review, the bank’s Total Asset grew by 35.61% from N279.27bn as at the end of December 2021 to N378.69bn at the end of December 2022.

The bank’s earnings per share for the period under review also grew by 27.69%; from N13. 8 kobo as at end of December 2021 to N17. 62 kobo as at end of December 2022.

The bank has consistently delivered remarkable results in the last four years, which clearly is a reaffirmation of its continuous growth trajectory, being the leader in Nigeria Non-Interest banking space to its stakeholders and the general banking public.

The Managing Director/CEO, Dr Sirajo Salisu, said the result is a testimony that Islamic finance has gained acceptance among its stakeholders in Nigeria.

The bank, he said, has made outstanding progress despite the fluctuating currency rate and the effects of the current Russia/Ukraine war on the entire world.