Jaiz Bank Posts N540m H1 Profit
Jaiz Bank Plc has posted a profit of N540.212 million in the first half of the year as against N152.673 million realized in the corresponding period of 2016, showing an impressive growth of 254%.
The unaudited report submitted to the Nigerian Stock Exchange shows that the bank grew its total assets to N80.662 billion in the half year of 2017 compared to N65.230 billion in the corresponding period of 2016.
According to the report, the bank’s shareholders’ fund has increased from N11.302 billion realized in the first half of 2016 to N15.248 billion in the first half of 2017.
Speaking on the impressive results, the Managing Director/CEO Hassan Usman attributed the success to the support from the Board, Management and staff of the bank in addition to our commitment to the business model which is hinged on a better life for all our stakeholders.
He said “the results attained so far already prove we are doing better than 2016. This year will define how we move forward; we are in the process of creating a five-year plan that will further define our identity in the Nigerian banking space. We have ambitious ideas about what we would like to be, and the Board and the shareholders are committed to ensuring we become a formidable player in the market”.
On the bank’s focus for the remaining part of the year, the CEO said more branches would be opened in different parts of the country and “our strategy is to provide retail banking to a large segment of the society who are desirous of our products and services.”
“We are focused on building on our culture of ethics and taking the necessary decisions to align our perspective with client expectations.”
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