Jaiz Bank grows capital base to N15bn within 5 years


July 24, 2017 | 5:37 pm
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Jaiz Bank Plc, Nigeria’s leading non-interest bank, says it has grown its capital base from the initial N5 billion it started operations with five (5) years ago, to over N15 billion, at the moment.

The bank disclosed that it is growing at an annual rate of 30% which makes it one of the strong players in Nigeria’s banking industry, with plans to be one of the leaders in the market in the next 5 years.

Hassan Usman, chief executive officer of the bank, made this disclosure weekend, while speaking with a team of selected journalists as part of his working visit to Kano Area office of the bank.

Hassan, who is also the managing director of the bank, also revealed that the management of the bank was able to grow in Balance sheet to N100 billion in the last 5 years.

According to him, a breakdown of the Balance Sheet of the Bank shows that the management of the Bank grew Deposit Base from Zero to over N60 billion, and Asset Base increased from zero percent to N40 billion, respectively, in the last 5 years.

“It may interest you to know that we Jaiz Bank started operation precisely in the month of January 2012 as a Regional Bank from three locations in the country, today we have grown to become a National Bank with 30 Branches spread across the 6 Geo-Political Zones of the country.

“We have been able to make Jaiz a household name in the Nigerian Banking Industry, and one of the reasons why we having this interview today is to further create awareness among Nigerians for the Bank”, he stated.

Hassan noted that the bank had been involved in the financing business prepositions relevant to the development of the real sector of the Nigerian economy, pointing out that business and employment opportunities which the bank offers are open to all Nigerians, and foreigners alike, irrespective of creed.

“We are proud of our success story as we have broken the world record of being the first Islamic bank in the world to start making profit in the first three years of operation, no other bank has achieve this height before.

“We are also have a plan in the pipe line to be a universal bank as we continue to grow our network through opening of additional new branches across the country” he added.

He said that the bank which currently have a staff strength of 500, has concluded plans to open new branches in Jos, Nassarawa, and Minna, as well as additional in Lagos.

Commenting on the plan by the Debt Management Office (DMO) to float a Sukuk, the Jaiz`s MD, described the move as a welcome development which expected to go a long way in boosting the operations of the bank.


July 24, 2017 | 5:37 pm
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