Jaiz Bank Plc, Nigeria’s premier non-interest bank on Wednesday, said it recorded N2.13 profit before tax in the third quarter that ended September 30.
The results, which were submitted to the Nigerian Stock Exchange (NSE) showed that profits before tax of N2.13 billion was higher than N1.47 billion realized in the corresponding period of 2019, representing a 44.36 per cent. According to the results, profits after tax was N1.85 billion as at the end of September 30, 2020, compared to N1.25 billion earned at the end of September, 2019, showing an crease of 47.72 per cent.
A breakdown of the results shows that total assets of the bank as at September 30, 2020 was N210 billion, compared to N167 billion in the corresponding period of 2019, representing a 25.67 per cent raise. The bank also declared N13.65 billion Gross income at the end of September 30, 2020, compared to N9.37 billion in the corresponding period of 2019, a 45.71 per cent growth. Its earnings per share also rose 48 per cent from 4.25 kobo in September 30, 2019 to 6.28 kobo as at September 30, 2020.
Commenting on its performance, Managing Director of the bank, Mr. Hassan Usman, said the 3rd quarter results further demonstrated the company’s capacity to grow sustainably in line with its strategic vision of becoming the leading non-interest bank in Sub-Saharan Africa.