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From Uche Usim, Abuja
The Managing Director/Chief Executive Officer of Jaiz Bank Plc, Mallam Hassan Usman, has said that the bank’s deposits increased from N3.5 billion at inception in 2012 to N60 billion, in addition to over 100,000 active customers, according to its records.
He also disclosed that sustained awareness and delivery of quality services helped it manage its initial perception crisis as many Nigerians hitherto concluded the bank was purely for Muslims.
At an interactive session with finance journalists in Abuja yesterday, Usman said the relatively young bank, at take-off, faced challenges that were foreseen, adding that the management squared to the issues and tackled them headlong.
“Overtime, the bank has gone through many challenges, which include awareness and infrastructure. Awareness was one pronounced challenge we faced in the past. But we have been able to neutralise the assumption that the bank was for Muslims alone.
It is not at all. Rather, it is another mode of financial service open to all,” he explained.
Usman said Jaiz was like other banking institutions set up to serve everybody irrespective of religion and ethic affiliations, while commending the Central Bank of Nigeria (CBN) for steps taken to address the protracted forex liquidity crisis. He said the crisis has eased off compared to its scorching level in 2016.
The Jaiz Bank boss also justified the listing of the bank’s shares on the Nigerian Stock Exchange (NSE), saying it was to enhance transparency in its operations.
“The listing also fulfilled Jaiz Bank’s board’s pledge in 2012 at its Initial Public Offerings (IPOs) that its shares would be publicly listed at the Exchange. It was also to create additional values for its shareholders. Jaiz Bank was officially quoted two months ago on the trading floor of NSE, making it the first non-interest bank to be so listed at NSE,” he said.
Hassan also revealed that the bank commenced operations with a single branch in 2012, but has expanded to 30 branches spread across North and South Western regions, while arrangements are in top gear to open branches in other regions.
