Jaiz Bank Plc, Nigeria’s premier non-interest bank has released its 2018 operating results, indicating that its total customer deposit grew by 25per cent from N68 billion in 2017 to N85 billion in 2018.
The bank’s total comprehensive income for 2018 stands at N946.678 million as against N537.117 million recorded in 2017, while total equity and liabilities also grew to N108,462, 458 from N87,312,609.
Its Managing Director Mr Hassan Usman, made the disclosures at the 7th Annual General Meeting (AGM) of the bank in Abuja on Wednesday.
According to him, the bank also recorded positive growth in income after tax which grew from N537 million in 2017 to N834 million in 2018.
He said: “A stellar increment of 25 per cent was recorded for balance sheet size in 2018 to N109 billion. It is encouraging to note that in the past few years, it has been growing steadily at a double-digit rate of 20per cent.
“Income-generating assets grew by 37 per cent from N50.64 billion in December 2017, to N69.18 billion by December 2018”, he said.
On shareholders call for opening of new branches, Usman said such an endeavour requires strategic studies, planning and execution.