Jaiz Bank Declares N6.9bn Profit In 2022  

Non-interest (Islamic) bank in Nigeria, Jaiz Bank Plc has released its results for the period ended December 31st, 2022. Based on the audited report, Jaiz Bank recorded a profit after tax of N6.88 billion.

In a statement made available to the press yesterday in Abuja, the bank indicated that the N6.9 billion surplus was an increment compared to the N4.9 billion realised in the corresponding year 2021.

While the bank cut unrealised foreign exchange loss to N143 million from N214.7 million a year earlier, pre-tax profit accelerated by 59.5 per cent to N6.6 billion.

The Bank’s recorded an impressive growth across all its major indices, replicating an exceptional performance in the financial year. The gross earnings rose to N33.3billion, up from N25.6billion recorded in 2021 financial year.

Jaiz Bank audited financial statement as filed on Nigerian Exchange Group(NGX) showed a 59.5 per cent improvement in net profit for 2022, signifying considerable growth in its key income streams.

The income generated from financing and investment transaction surged by 30 per cent from N24.2billion in the corresponding financial year.

The Bank proposed 5kobo per share as dividend as against the 4kobo shared in 2021.