Jaiz Bank Plc nets N816 million profit in H1 2019

Jaiz Bank Plc has posted N907 million as its profit before tax for the half year (H1) ended June 30, 2019, against the N231 million recorded in the comparable period of 2018.

The bank’s profit after tax closed at N816 million higher than the N207 million achieved a year ago.A statement released in Abuja, for the H1 Report released to the Nigerian Stock Exchange (NSE), showed that gross earnings rose by 41 percent, while pre and post-tax profits increased by 292 percent, and 295 percent respectively.

The Bank also grew its total income by 41 percent from N4.47 billion as at June 2018 to N6.31 billion at the end of June 30th 2019, while earnings per share rose by 225 percent from 0.78 kobo to 2.77 kobo.

The statement read in part: ‘’The above results further consolidated the growth trajectory of Jaiz Bank with a promise to end the year positively. The balance sheet was further strengthened during the period with total assets rising by 33 percent from previous year end position of N108.46 billion to N144 billion.”

Speaking on its performance, Managing Director, Hassan Usman, was quoted as saying that the H1 results further demonstrated the Bank’s capacity to grow sustainably in line with its strategic vision of becoming the leading non-interest bank in sub-Saharan Africa. Usman assured that while maintaining steady focus on elements that contributed to improve performance thus far, the trend would be improved upon in the remaining period of the financial year, barring unforeseen circumstances.

The Source:- The Guardian

Leave a Reply