Our Balance Sheet is over N300bn- Jaiz Bank Boss

Our Balance Sheet is over N300bn- Jaiz Bank Boss
After ten (10) years of operations in Nigeria, the pioneer non-interest banker, Jaiz Bank, has grown its balance sheet to over N300bn, the Managing Director and Chief Executive, Mr Hassan Usman has said.
Mr Usman who disclosed the position to newsmen at the bank’s corporate headquarters in Abuja, said despite venturing into the unfamiliar territory of Islamic banking in Nigeria, the company was able to achieve the feat with the N12bn it started with in 2012.
The MD noted that the bank, which commenced operations with only three (3) branches and tagged as a regional branch, has increased to over 45 branches across the federation, adding that it has consistently been growing at about 30 per cent over the last five years.
He said its profit before tax has grown by an average of about 40 per cent over the last four years with its customer base reaching almost a million across all sectors.
“We have just reached ten years and we are going to have our tenth AGM on the 16th and it will be preceded with a dinner to celebrate our reaching 10 years and the milestones that we have achieved, so we are inviting you to grace that occasion and be part of the celebration’, he told the financial journalists.
“For the last two years, we have been consistently paying dividends, though small, it is competitive. During our first dividend, we paid about N800m but from the second one, each year we have been paying a billion.
According to him, “the journey has been satisfying for us. We have worked with partners to create more than 3,000 units across Nigeria, we have done financing to SMEs to the tune of more than N60bn, with this small number of years, we have also financed more than 4,000 corporates and more than 5,000 SME customers.”
He said the business activities of the bank has boomed significantly in the past years making it to now have a total of 45 branches in parts of the country, adding that in no time an additional five branches would come on stream.
While saying that plan is under way by the bank to establish five new branches in the northern and southern part of the nation, adding that the bank engages into various business activities and shares its profits fairly with its shareholders and customers
He noted that current positive earnings result is undoubtedly very reassuring to all stakeholders and the public, stressing that the development underscores the role of Jaiz as the pioneer Non-Interest Bank in Nigeria, as well as the industry leader.
Usman said that the Bank remained committed to providing value creating ethical banking services to its growing customer base, as it is positioned to continue its remarkable earnings streak by leveraging on technology and extending its branches across the country.