Jaiz Bank Posts N11bn Profit Before Tax

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Jaiz Bank Plc announced impressive financial results for 2023 and the first quarter of 2024. Their profit before tax reached N11.2 billion in 2023, a significant jump from N6.9 billion in 2022. This momentum continued into Q1 2024, with a profit before tax of N6.0 billion, a remarkable 278% increase compared to the same period in 2023.

The bank’s financial health also shows positive signs. Their finance and investment portfolio grew by 16%, and deposit liabilities increased by 11%. Jaiz Bank emphasizes a strong and well-diversified balance sheet with a robust Capital Adequacy Ratio (CAR).

Jaiz Bank’s CEO, Haruna Musa, credits the success to the bank’s commitment to ethical finance and customer satisfaction. They plan to maintain this focus while attracting new customers and supporting communities through innovative offerings and digital platforms.

Source: Daily Trust

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