Jaiz Bank Plc has said its profit after tax rose by 70.1 per cent growth to N1.9bn in the first half of 2021 from N1.17bn in the same period of 2020.
According to a statement issued by the bank on Wednesday, the figures were contained in the bank’s financial results released by the Nigerian Stock Exchange.
The statement was titled, ‘Jaiz Bank grows half-year profit by over 70 per cent.’
It read in part, “Financial results of Jaiz Bank Plc for the second quarter which ended on 31st June 2021 was released to the Nigerian Stock Exchange, showing a 70.6 per cent growth in profit after tax, from N1.17bn declared in June 2020 to N1.99bn at the end of June 2021.”
It also disclosed that the bank’s total income for the period under review grew by 42.1 per cent from N6.23bn as at end of June 2020 to N8.86bn at the end of June 2021.
Meanwhile, the bank’s earnings per share for the period under review jumped from 3.89 kobo in the first quarter of 2020 to 6.78 kobo at the end first quarter of 2021, indicating a 70.3 per cent increase.
The statement said the consistent earnings result was reassuring to all stakeholders and the investing public, thus positioning the bank as not only the pioneer but also the leading non-interest bank in Nigeria.
Speaking on the result, the Managing Director of the bank, Hassan Usman, said the increase reflected the bank’s positive outing in 2020, where it recorded a profit before tax of N3.07bn.
“Jaiz Bank is committed to maintaining the remarkable earnings streak for the rest of the year by leveraging on technology and the expansion of its retail banking portfolio,” Usman said.
– Punch