Jaiz Bank Targets N316.3m Pre-Tax Profit by June
By Modupe Gbadeyanka
By the end of second quarter of 2017 (next month), the profit before tax of Jaiz Bank Plc should have risen to N316.28 million, Managing Director of the lender, Mr Hassan Usman, has revealed.
Also, the total income of the financial institution should have increased to N2.4 billion within the period, while its total assets of Jaiz Bank Plc must have grown to N101 billion by the end June 2017.
As at the end of first quarter of this year, the total assets of the firm, according to its financial statements, stood at N78.7 billion, while its total income was N1.4 billion and its profit before tax stood at N203.67 million.
Speaking at the Annual General Meeting (AGM) of Jaiz Bank Plc held in Abuja on Wednesday, Mr Usman assured shareholders that the bank would continue to stamp its authority in the banking industry in the country.
According to him, these estimates were realisable and in line with the future projection of the bank. He noted that the lender would focus its operations on the retail market for both financing of assets and deposit mobilisation.
The bank chief disclosed Jaiz Bank will consistently provide support for the Micro, Small and Medium Enterprises (MSMEs) sector, lower incidence of credit default risk, preserve shareholders’ fund and maintain steady growth in profitability.
He expressed confidence that with consistent and sustained focus on the needs of customers and employees, through the provision of excellent service, great products and continued investment in the knowledge, Jaiz Bank would grow to become the darling of Nigerians.
Mr Usman called for continuous support of the shareholders, assuring them of good returns in their investments.