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TAJBank Limited has emerged as Nigeria’s biggest non-interest bank, leading the fast-growing ethical banking segment with total assets crossing N1.017 trillion and record-breaking gross earnings.
Speaking at a seminar themed “Roles of Non-Interest Banks in SMEs’ Financing” organised by Leaders Corporate Services in Abuja, investment expert and chartered stockbroker, Mr. Olabode Akeredolu-Ale, revealed that TAJBank’s performance placed it ahead of all other players in the non-interest banking (NIB) space.
“Based on the banks’ approved financial statements for the half year 2025, TAJBank currently remains the biggest in terms of total assets,” Akeredolu-Ale stated. “Its assets rose to N1.017 trillion in H1 2025 from N953.098 billion in December 2024 — about N53 billion higher than the nearest competitor.”
He added that TAJBank’s gross earnings jumped by 64%, rising from N32.86 billion to N53.752 billion within six months, again surpassing its peers. The bank also posted earnings per share of 61.36 kobo, nearly double that of its closest rival.
Akeredolu-Ale explained that the data was obtained from verified financial statements and regulatory filings. “The figures I’m reeling out here are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify,” he clarified.
He praised the growing role of non-interest banks in supporting small and medium enterprises (SMEs), stressing that traditional deposit money banks (DMBs) have become less accessible due to high lending rates. “Today, MSMEs cannot access DMBs’ loans due to high interest rates and harsh economic conditions.
This is where non-interest banks have become very crucial to Nigeria’s economic growth,” he noted.
Another speaker, Mr. Benjamin Chukwudi, commended the sector for its impact on small businesses. “Non-interest banks are playing catalytic roles by providing SMEs access to interest-free financing and financial advisory support that help them stay afloat despite rising business costs,” he said.
At just five years old, TAJBank’s remarkable growth has positioned it as the torchbearer of ethical, innovation-driven banking in Nigeria’s financial landscape.
