Jaiz Bank Plc, Nigeria’s premier non-interest bank, has predicted its earnings for the third quarter of 2021 (Q3 2021). The bank expects its gross earnings to hit N6.9 billion while its interest income is projected to hit N6.57 billion.
Other Q3 predictions below:
- Net operating income projection of N4.64 billion.
- Operating expenses projections of N3.54 billion.
- Tax is projected at N110.5 million
- Profit after tax is projected at N994.88 million.
For the 2020 financial year, the Non-Interest Bank declared a Profit Before Tax of N3.07 billion for the 2020 financial year, a 45.31 per cent increase over N2.11 billion recorded in the previous year.
Gross Earnings from the Report and Accounts for the year ended December 31, 2020, showed a 33.29 per cent growth from N14.71 billion in 2019 to N19.6 billion in 2020.
Jaiz Bank’s Total Assets during the year under review was N233.59 billion as against N167.27 billion realised in the previous year, representing a 40 per cent growth.
Similarly, there was a leap in the Profit After Tax from N2.44 billion in the preceding year to N2.90 billion for the year ended December 31, 2020.
