JAIZ Bank declares N2.4bn profit after tax in 2019

Jaiz Bank Plc, one of Nigeria’s non-interest Islamic Bank, has released its 2019 audited results for the period ended December 31st, 2019, declaring a profit after tax (PAT) of N2.4bn.

This represents a leap of 193 percent from N834.4m realised in 2018 financial year.

In the report submitted to the Nigerian Stock Exchange (NSE), the bank declared a 135% growth in profit before tax (PBT) for the period under review from N879.7m as at December 31st 2018 to N2.1bn as at December 31st 2019.

Key extracts of the report showed that gross income grew by 80% to N13.5bn as at December 31st 2019 from N7.5bn in the previous year, while the bank’s total assets also grew by 54% to N167.27bn from N108.46bn.

Source: Daily Trust

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