Barbara Bako, Abuja.
JAIZ Bank Plc recorded a profit before tax of N31.24 billion in the 2025 financial year, representing a 28 percent increase over the N24.4 billion posted in the previous year, as the non-interest lender sustained growth across its operations.
Speaking after the bank’s 14th Annual General Meeting held virtually on Wednesday, the Managing Director and Chief Executive Officer, Dr. Haruna Musa, said the institution delivered a strong performance despite inflationary pressures, exchange rate volatility and rising living costs.
Musa disclosed that gross earnings rose by 24 percent to N102.81 billion from N82.87 billion in 2024, while total assets expanded by 19 percent to nearly N1.3 trillion from about N1 trillion recorded a year earlier.
Customer deposits also grew by more than 24 percent to N1.12 trillion from N904 billion, reflecting what the bank described as increasing customer confidence in its products and services.
According to the chief executive, net risk assets and investments climbed by 27 percent to N849 billion from N671 billion, indicating increased financing support to key sectors of the economy.
The bank also recorded improvements in operational efficiency, with its cost-to-income ratio declining to 58.09 percent from 60.42 percent in 2024.
Its capital adequacy ratio improved to 26.89 percent from 23.87 percent, while liquidity remained strong at 43.45 percent, exceeding the regulatory minimum requirement.
Musa said shareholders at the meeting approved a plan to raise an additional N150 billion to strengthen the bank’s capital base and support future growth initiatives.
He explained that the capital raising programme, expected to be completed before September 2026, would position the bank to compete more effectively with larger conventional lenders.
“The conventional players’ capital ceiling is about N200 billion. With this additional N150 billion, JAIZ Bank intends to be at par, or even more than some of the conventional players,” he said.
The bank also outlined plans to expand its branch network from the current 55 locations to 65 by the end of 2026 and extend its footprint to all state capitals within the next two years.
Highlighting key milestones achieved during the year, Musa said JAIZ Bank became the first African institution admitted as a primary dealer of the International Islamic Liquidity Management Corporation, strengthening its position in the global Islamic finance market.
He added that the bank would continue to drive financial inclusion through agency banking partnerships, digital banking platforms and new products targeted at retail customers and small businesses.
“We are very confident that the foundation laid in 2025 will give us the opportunity to achieve even greater milestones in the years ahead,” he said.
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