Jaiz Bank generates N291.5bn profit, records 25% dividend growth

The Jaiz Bank Nigeria Plc has disclosed that despite challenging operating environment, its revenue increased substantially to N291.5 billion, representing a growth of 37%.

This was disclosed at the Bank’s 11th Annual General Meeting which took place on Wednesday in Kano.

According to a statement sent to DAILY NIGERIAN, the Bank’s income also rose sharply by 33%, the highest in many years.

The Jaiz Bank Nigeria Plc has disclosed that despite challenging operating environment, its revenue increased substantially to N291.5 billion, representing a growth of 37%.

This was disclosed at the Bank’s 11th Annual General Meeting which took place on Wednesday in Kano.

According to a statement sent to DAILY NIGERIAN, the Bank’s income also rose sharply by 33%, the highest in many years.

Two Independent Non-Executive Directors were re-elected for another 3-year term, namely, Aisha Umar and Dr. Abdullateef Bello.

At the AGM, the shareholders passed an ordinary resolution on private placement of 10,048,237,955 ordinary shares and rights issue of 5,410,589,668.

The directors were authorized to do all things necessary to give effect to the resolution.

The shareholders expressed their thanks and gratitude to Umar Mutallab (former Chairman, Board of Directors) and Falalu Bello (former Non-Executive Director) — both were founding fathers of the Bank— for their contribution to the growth and success of the Bank.

During the year under review, the Bank moved its headquarters from Kano House in Central Business District to Jaiz Bank House in Area 3, Garki.

The Bank also adopted a new 5-year strategy (2022-2027) with four strategic pillars — diversification, digitalization, inclusive growth and sustainability.

The strategy is designed to reposition the Bank and help it sustain its competitive and comparative edge.