JAIZ bank has declared N979.17 million profit before tax for the first quarter ended March 31, 2021.
The bank, in its financial result released on Thursday, said the declared profit significantly increased by 54 percent, as against N636.69 million recorded in the same period last year.
The result, which was released to the Nigeria Stock Exchange, shows that the bank’s gross revenue increased by 43% percent over the same period last year, from N4.18 billion to N5.99 billion.
The bank said the “consistent earnings result is obviously reassuring to all stakeholders and the investing public that the bank will brace the tape strongly at the end of the current financial year in December 2021.”
It said the bank in the last financial year “paid out over N833 million as dividend to its shareholders,” as its earnings per share increased from “1.88 kobo in the first quarter of 2020 to 2.82 kobo in the first quarter of 2021.”
Speaking on the result, Managing Director/Chief Executive Officer, Hassan Usman, said the result reflects the bank’s positive outing in 2020, where it recorded a Profit Before Tax of N3.07 billion.
He assured that with this development and despite the pandemic, the bank is positioned to maintain this positive outlook for the whole year.
“Jaiz Bank, as the premier Non-Interest Bank in Nigeria is expected to maintain the remarkable earnings streak and its leading position of the Non-Interest Banks in Nigeria,” he said.
