MD, JAIZ Bank Leverages Market Acceptability To Boost Growth

Jaiz Bank Earns N4.21 Billion In Profit In 2021
Jaiz Bank Earns N4.21 Billion In Profit In 2021

Jaiz Bank Plc will continue to leverage its market acceptance and innovation to provide a superior customer experience on a consistent basis.

Usman went on to say that the bank would keep its clear leadership in the non-interest banking market.

According to him, JAIZ Bank grew from a modest balance sheet size of N12 billion in 2012 to N278 billion (total assets and contingents) at the end of the 2020 fiscal year, while all other key performance indices grew exponentially over the years.

The first non-interest bank in Nigeria opened its doors in January 2012, with three branches in Abuja, Kaduna, and Kano, focusing on agriculture, real estate, construction, oil and gas, and commerce.

In his speech at the bank’s 10th anniversary celebrations held over the weekend in Abuja, the CEO emphasized that it was not surprising that the bank received international recognition, having won the Most Improved Islamic Bank award for 2020 and 2021 at the Global Islamic Finance Awards (GIFA).

“Today, our bank officially celebrates ten years since it first opened its doors to customers on January 6, 2012,” Usman said. The ride was similar to a roller coaster in that you feel some fear at first, but then excitement takes over when the carriage takes off and you feel the euphoria of defying gravity’s odds.


After the coaster begins to gain momentum and stopping is no longer an option, the wisest thing to do is to make every jerk and movement worthwhile and impactful. That is exactly what we did; we lived every moment, learning from every mistake, and supporting our customers through thick and thin, despite the lack of critical non-interest banking enablers to pioneer a nascent sub-sector.

“We are pleased to have pioneered an industry that did not previously exist; creating confidence for others to enter, and we believe we have done so very well.” The year 2022 is significant for us because it marks a decade of progress in our Islamic banking journey, and I am extremely grateful for the opportunity to lead the team for a significant portion of the journey. From its humble beginnings in 2012, the bank has successfully developed a remarkable brand that is iconic both locally and globally.”