Shareholders Approve N150bn Capital Raise As Jaiz Bank Expands Growth Plans

Shareholders of Jaiz Bank Plc have approved a proposal by Nigeria’s pioneer non-interest bank to raise an additional N150 billion in capital to support its expansion and long-term growth plans.

The bank said the proposed capital raise comes months after it successfully met the N200 billion minimum capital requirement for non-interest banks set by the Central Bank of Nigeria (CBN) under the March 2026 recapitalisation programme.

Speaking with journalists after the bank’s 14th Annual General Meeting (AGM), held on Wednesday, managing director and chief executive officer of Jaiz Bank Plc, Dr Haruna Musa, said shareholders had given approval for the new capital injection to further strengthen the bank’s financial position and enhance its competitiveness within the banking industry.

Reviewing the bank’s 2025 financial performance, Musa disclosed that total assets increased by 19 per cent to N1.29 trillion in 2025, up from N1.08 trillion in 2024.

Customer deposits also rose by 24 per cent from N904 billion to N1.12 trillion, a development he attributed to growing confidence in the bank’s products and services.

He added that net risk assets and investments grew by 27 per cent, rising from N671 billion in 2024 to N849 billion in 2025.

Gross earnings climbed by 24 per cent to N102.81 billion during the period under review, compared with N82.87 billion in the previous year. Profit Before Tax (PBT) also advanced by 28 per cent to N31.24 billion from N24.44 billion in 2024.

According to Musa, the strong performance was driven by increased financing activities, higher investment income and growth in customer transactions.

“This performance reflects our ability to deliver sustainable earnings while remaining committed to the principles of ethical and value-based banking,” he said.

The bank also recorded improved operational efficiency, with its cost-to-income ratio declining from 60.42 per cent in 2024 to 58.09 per cent in 2025. Its Capital Adequacy Ratio strengthened from 23.87 per cent to 26.89 per cent, representing a year-on-year increase of 12.6 per cent.

Musa said the improvement was supported by ongoing digital transformation initiatives, process optimisation, prudent cost management and enhanced productivity across the institution. “Our strong capital base provides the capacity to support future growth, absorb potential shocks and take advantage of emerging opportunities within the financial services sector,” he stated.

Despite prevailing economic challenges, including inflationary pressures, exchange-rate volatility and rising operating costs, Musa said the bank remained resilient and continued to execute its strategic objectives successfully.

“Our results demonstrate the strength of our business model, the trust of our customers and the growing acceptance of ethical and non-interest banking in Nigeria,” he added.

Looking ahead, Musa said the bank would intensify its digital transformation drive, expand retail and SME banking operations and pursue other strategic initiatives aimed at sustaining profitability and enhancing shareholder value in 2026.