JAIZ Bank profit jumps 28%, targets N150bn capital

JAIZ Bank Plc has reported a strong financial performance for the 2025 financial year, recording a 24 per cent increase in gross earnings and securing shareholders’ approval to raise an additional N150 billion to strengthen its capital base.

Speaking after the bank’s 14th Annual General Meeting held virtually in Abuja, Managing Director and Chief Executive Officer, Dr. Haruna Musa, said the lender delivered solid growth across key performance indicators despite economic challenges, including inflation, exchange rate volatility and rising living costs.

According to him, the bank’s total assets rose by 19 per cent from about N1 trillion in 2024 to nearly N1.3 trillion in 2025, while customer deposits increased by over 24 per cent from N904 billion to more than N1.12 trillion.

Musa added that net risk assets and investments grew by 27 per cent to N849 billion, reflecting increased financing to productive sectors of the economy.

The bank’s gross earnings climbed to N102.81 billion in 2025 from N82.87 billion recorded the previous year, while profit before tax rose by 28 per cent to N31.24 billion from N24.4 billion.

He also noted improvements in operational efficiency, with the cost-to-income ratio declining to 58.09 per cent from 60.42 per cent in 2024, driven by digital transformation and cost management initiatives.

JAIZ Bank’s capital adequacy ratio improved to 26.89 per cent from 23.87 per cent, while its statutory liquidity ratio stood at 43.45 per cent, above the regulatory threshold set by the Central Bank of Nigeria.

Beyond its financial results, Musa highlighted several strategic milestones achieved during the year, including a corporate rebranding campaign, an upgrade of the bank’s credit rating by GCR, and the expansion of its digital banking services.

He said the bank also became the first African institution admitted as a primary dealer of the International Islamic Liquidity Management Corporation (IILM), strengthening its position in the global Islamic finance industry.

To support future growth plans, shareholders approved a proposal by the board to raise an additional N150 billion in capital. Musa said the fundraising exercise is expected to be completed before the end of September 2026, subject to regulatory approvals.

According to him, the capital raise will position JAIZ Bank on par with some of Nigeria’s leading conventional commercial banks in terms of capital strength and support its expansion strategy.

The bank also plans to increase its branch network from 55 to 65 by the end of 2026 and expand operations to all state capitals within the next two years.

Looking ahead, Musa said JAIZ Bank would deepen financial inclusion through agency banking, enhanced digital platforms and new retail and SME products aimed at enabling customers access financing and banking services remotely.

He expressed confidence that the foundation laid in 2025 would enable the bank to achieve even greater growth in the years ahead.