Jaiz Bank Plc, Nigeria’s premier non-interest Sharia compliant financial institution has declared a profit after tax of N1.79 billion in its 2019 unaudited financial results submitted to the Nigerian Stock Exchange (NSE).
The bank, in a statement said the figure indicates a 114 per cent growth when compared with the N834.36 million recorded at the end of 2018.
Key extracts of its performance report showed that total assets rose by 53 per cent from N108.462 billion in 2018 to N166.837 billion, while gross income rose by 80 per cent from N7.5 billion in 2018 to N13.517 billion in 2019.
At the end of 2019 financial year, customer’ deposits increased by about 50 per cent from N85.03 billion in 2018 to N127.193 billion.
Attesting to the increasing public interest in Islamic finance products, the earning per share of the bank rose to 6.06 kobo per share as against 2.83 kobo per share in 2018, signifying an increase of 114 per cent.
Commenting on the performance, the Managing Director of Jaiz Bank, Hassan Usman, said the major driving force was the deliberate efforts to satisfy “our customers, which was evident in the significant growth in our deposit base.”