Jaiz Bank’s Total Assets Hit N1.08 trillion.
Foremost non interest Banker, Jaiz Bank has said it’s total assets has
expanded significantly by 86%, reaching ₦1.08 trillion.
Managing Director of Jaiz Bank Plc, Dr. Haruna Musa, disclosed this at the end of the 2024 Annual General Meeting of the bank held Wednesday held in Abuja.
According to the Jaiz Bank boss, the development when
compared to ₦580 billion the previous year, marked a major milestone as the it crossed the one-trillion-naira threshold.
Sharing the success story with Journalists, Dr. Haruna Musa said the outstanding performance of Jaiz Bank for the year ended 31st December 2024 “reflect not only the resilience of our business model but also the trust and confidence reposed in us by our shareholders, customers, and stakeholders.
According to him, Gross earnings grew by 75%, rising to ₦82.87 billion in 2024 from ₦47.24 billion in 2023, adding that Profit before tax surged by 121% to ₦24.44 billion, up from ₦11.05 billion in 2023.
He noted that Cost-to-Income Ratio improved to 60.42% from 65.26%, demonstrating enhanced efficiency in our operations.
He further said Customer deposits grew remarkably by 94% to ₦904 billion, reflecting increasing public confidence in Jaiz Bank, while Capital Adequacy Ratio strengthened to 23.87% from 17.96%, further reinforcing the stability and soundness of the institution.
The Net risk assets and investments rose by 88% to ₦671 billion, while the Statutory Liquidity Ratio improved to 47.35% from 37.24%.
These achievements, he said underscore Bank’s unwavering commitment to delivering sustainable value, promoting ethical banking, and supporting Nigeria’s economic development.
“Looking ahead, we remain committed to deepening financial inclusion, leveraging technology to serve our customers better, and ensuring that Jaiz Bank continues to set the benchmark for non-interest banking in Africa”, he said.
He commended the Board, Management, and Staff of Jaiz Bank, while appreciating shareholders, customers, regulators, and partners for their continued support, noting that “together, we will build on this momentum to achieve even greater success”.
