Non-Interest Jaiz Bank Declares 157m Naira Profit

Channels Television  
Updated June 10, 2015

BankNigeria’s foremost non-interest financial institution, Jaiz Bank Plc, has declared a profit before tax of 157 million Naira for the year 2014.

The achievement was disclosed on Wednesday by the Chairman of the Bank, Dr Umaru Abdul Muttalab, at the third Annual General Meeting of the bank in Abuja, Nigeria’s capital.

The forum also brought together, shareholders across the country to discuss the way forward for the bank in the years ahead.

Dr Muttalab attributed the feat to the bank’s continued revenue growth and disciplined cost management.

He also explained that the bank’s asset grew up to 42 billion Naira in 2014, from the 33 billion Naira recorded in 2013.

The bank’s Chairman expressed optimism that the Central Bank of Nigeria would grant its appeal for operation as a national bank in no distant time, following the accomplishment.

The Managing Director (MD) and Chief Executive Officer (CEO) of Jaiz Bank, Muhammad Nurul-Islam, revealed that the bank was exploring how to key into modern banking techniques which would help it achieve more of the exploits.

Some of the shareholders, Reverend Goodluck Akpore and Amaul-Kafeel Oshodi, gave their satisfactory impression of the bank.

With over 15 branches spread across the North-east and North-western part of Nigeria, the management of the bank promised to extend its branches to other parts of Nigeria, so as to meet up with international best practices.