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Published On: Thu, Jun 26th, 2014

‘Jaiz Bank assets hit N34bn in 2013’

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jaiz bank logoBy Etuka Sunday

Jaiz Bank Plc, a non-Interest Bank in Nigeria yesterday announced an increased assets of N34 billion at the end of 2013 financial year from N14 billion in 2012, representing a growth rate of 141 percent.

The Bank’s Chairman, Alhaji Umaru Abdul Mutallab, said in his statement read at the second Annual General Meeting yesterday in Abuja that the Bank financed activities worth N9.3 billion in the year under review, signifying 365 percent increase over the previous year.

Equally, he said customer deposits witnessed significant growth reaching N21.9 billion, representing 567 percent increase over the previous year.

“These results are assuring and indicate that this alternative banking is feasible notwithstanding the difficult operating environment,” Mutallab said.

The Managing Director of the Bank, Muhammad Nurul Islam also said the Bank is hopeful of getting its National Operating License before the end of the third quarters which will enable it operate in all the 36 states of the Federation.

He said Jaiz Bank currently has 13 branches spread across 8 states in Northwest, Northeast and Federal Capital Territory, Abuja and will open at least 4 more branches before the end of the year.

He further emphasized that the Bank’s focus is on exceptional customer services stressing that Jaiz only recently launched its internet banking platform to complement its service delivery channels.



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