Jaiz Bank Plc, Nigeria’s first Non-Interest financial institution has forecast a 17 percent rise in its fourth quarter 2020 profit after tax (PAT). The forecast figures were contained in the Bank’s Statement of Earning Forecast for the fourth quarter – October 2020 to December 2020, published by the Nigerian Stock Exchange (NSE).
The Bank’s forecast shows Income from Finance activities rise by 19 percent Year-on-Year (YonY) from N4.15 billion to N4.94 billion in Q4 2020, while Finance Expense rise from N0.92 billion to N1.39 billion representing 51 percent increase.
Net Income from Finance Activities was also forecasted to rise by 10 percent YonY to N3.55 billion from N3.22 billion. And Net Operating Income is expected to rise by 28 percent to N3.85 billion from N3 billion the bank achieved in the fouth quarter of 2019.
Loan Loss as a result of Impairment provisioning was however forecasted to go down by 65 percent YonY to N0.16 billion from N0.46 billion in Q4 2019.
Profit Before Tax and Profit After Tax is expected to increase YonY by 13 percent and 17 percent respectively to N0.71 billion and N0.63 billion respectively from Q4 2019 figures of N0.63 billion and N0.54 billion respectively.
See full forecast figure here