Jaiz Bank Plc has achieved a major milestone, announcing that its total assets have surged past the ₦1 trillion mark for the first time in its history. The bank’s assets grew by an impressive 86 percent in the 2024 fiscal year, reaching ₦1.08 trillion.

Speaking at the bank’s 2024 Annual General Meeting (AGM), Managing Director/Chief Executive, Dr. Haruna Musa, described the growth as a sign of resilience, strong performance, and the increasing trust of customers and shareholders.

“Our achievements reflect not only the strength of our business model but also the confidence placed in us by our stakeholders,” Musa said.

The bank’s financial highlights showed gross earnings rising by 75 percent to ₦82.87 billion, while Profit Before Tax (PBT) more than doubled — climbing 121 percent to ₦24.44 billion, compared to ₦11.05 billion in 2023. Customer deposits also jumped 94 percent to ₦904 billion, a clear indication of rising public confidence in the institution.

Musa assured that Jaiz Bank would build on this momentum by focusing on expanding its retail banking base, embracing digital innovation, and refreshing its five-year strategic plan to meet changing market demands. He also reiterated the bank’s commitment to deepening financial inclusion and supporting key sectors like small businesses (SMEs), agriculture, and infrastructure.

In his remarks, Chairman of the bank, Mohammed Bintube, highlighted the successful private placement of ₦10.5 billion, which boosted the bank’s capital base to ₦28.7 billion — well above the Central Bank of Nigeria’s ₦20 billion minimum requirement.

“This is a strong vote of confidence from investors. It gives us the capacity to finance larger projects and expand our operations further,” Bintube said.

He noted that Jaiz Bank’s performance in 2024 not only exceeded expectations but also demonstrated the rising acceptance of non-interest banking in Nigeria.

Looking ahead, Jaiz Bank says it will continue to expand into underserved areas, develop tailored products for critical sectors, and strengthen its ethical banking model.

With this landmark achievement, Jaiz Bank is positioning itself as a stronger force in Nigeria’s financial sector — one focused on sustainable growth, innovation, and real support for businesses and communities.