Jaiz Bank records N979m in 3 months

Jaiz Bank Plc has recorded N979.17 million in the first three months of this year, its financial result for the first quarter ended 31 March 2021 released to the Nigerian Stock Exchange, has shown.

The result shows that the Bank’s gross revenue increased by 43 percent from N4.18 billion recorded in the same period in 2020 to N5.99bn this year.

Its Profit Before Tax (PBT) rose by 54% to N979.17m from N636.69m in Q1 of 2020.

According to the bank, the consistent earnings result is obviously reassuring to all stakeholders and the investing public that it will brace the tape strongly at the end of the current financial year in December 2021.

Jaiz Bank, a premier NonInterest Bank in Nigeria is expected to maintain the remarkable earnings streak and its leading position of the NonInterest Banks in Nigeria.

Leveraging on technology and the expansion of its retail market drives, the Bank is set to meet its profit forecasts and dividend promise to its shareholders.

In the last financial year, Jaiz Bank paid out over N833m as dividend to its shareholders. Meanwhile, the Bank’s earnings per share increased from 1.88 kobo in the first quarter of 2020 to 2.82 kobo in the first quarter of 2021. Commenting on the result, the Managing Director/CEO, Hassan Usman, said it reflects the Bank’s positive outing in 2020, where it recorded a PBT of N3.07bn.

He assured that with this development and despite the pandemic, the Bank is positioned to maintain this positive outlook for the whole year.