Islamic bank Jaiz Bank announced its financial results for the year ended December 31, 2020 on Wednesday (April 7). After-tax profit stood at N2.90 billion, up 19%. posted after-tax profit up 19% to 2.90 billion naira (US$7.6 million) from 2.44 billion naira (US$6.4 million) the previous year. As for the profit before tax, it amounted to 3.07 billion naira (8.1 million USD) for the financial year 2020, an increase of 45.31% compared to 2.11 billion naira (5.5 million USD) recorded in 2019.

The bank's total assets during the year under review stood at N233.59 billion (US$616.4 million) compared to N167.27 billion (US$441.4 million). ) made the previous year, representing growth of 40%.
Jaiz Bank Managing Director Hassan Usman said the institution's growth strategy focuses on the real sector of the economy, particularly small and medium enterprises (SMEs) and financial inclusion.