Jaiz bank, Nigeria’s only interest free financial institution have had a very impressive growth in its balance sheet since it came to being in 2012. It had steady and increasing balance sheet figures all through the last five years.
Here are the highlights of Jaiz annual report 2018 as released to the Nigerian Stock Exchange.
- Total Asset increased by 24% from N87.31 billion in 2017 to N108.64 billion in 2018 FY
- Customer Deposit also increased significantly by 25% from N68.12 billion in 2017 to N85.03 billion 2018.
- Loans and advances increased by over 80% from N38.52 billion in 2017 to N69.36 billion in 2018.
- The bank’s profit before tax however remains flat at N0.89 billion in 2017 and 2018.
- The bank’s income from financing and investment increased by 8.7% to N7.52 billion in 2018 from N6.92 billion in 2017 financial year.
- Fees and Commission income also increased by 32% from N0.75 billion in 2017 to N0.99 billion in 2018 financial year.
Here is a look at the 5 years financial performance
- Jaiz Bank’s Total Asset grew significantly by 145% over the five years period with and impressive 24% growth in 2018 financial year. The bank has been consistent in Asset growth.
- Jaiz again grew its depositors funds by an impressive 684% within the last five years From a humble N11 billion in 2014 to N85 billion in 2018. Ther has been consistent growth in the bank’s depositors funds.
- Jaiz Fees and Commission income by 313% between 2014 and 2018 representing one of the highest growth in industry.
- The bank’s Profit before tax also grew impressive by 585% in the last five year from N130 million in 2014 to N894 million in 2018 financial year.