2020 AGM: Shareholders laud TAJBank’s board, mgt on performance…..As lender records 471% growth in Profit Before Tax

Shareholders of TAJBank Limited, Nigeria’s leading non-interest banking products and services
provider, yesterday commended the board and management of the bank for its impressive
performance in its first year of operations, promising continued commitment to the realisation of
the vision and mission of the innovation-driven lender in the years ahead.


During the financial year, the bank reported outstanding improvements in its gross earnings,
which rose from by 6,066% in the financial year to N3.456 billion; 471% growth in Profit Before
Tax (PBT) ; deposit growth rate of 1,524%, Return on Equity rose by 361% and an exponential
growth in customer base from 1,809 to 103,853, among other positive performance indices.
Speaking during a post-AGM interactive session with journalists at the bank’s 2nd Annual
General Meeting (AGM) held in Abuja, one of the leading shareholders of the bank, Alhaji Lawal
Garba, said the shareholders were “very happy with the board and management of the bank for
the impressive performance recorded during the year, particularly on the innovation that they
have brought into non-interest banking in Nigeria.


“We are also very impressed with their entrepreneurship drive which has impacted on the way
the bank is growing and we are all very impressed and wish the bank more successful years
ahead.
“Also, we are want to encourage the management to continue with the mandate they have been
given by redoubling their efforts towards the full realisation, though the efforts they have put in
so far have been commendable. Overall, we are very impressed with their superlative
performance”, Garba added.


Earlier in his address at the AGM, the bank’s chairman, Alhaji Tanko Isiaku Gwamna, noted
that the 2020 financial year was a remarkable year for the bank in terms of investment, market
penetration, growth, expansion and strong financial and strategic performance that enabled the
bank to position itself as one of Nigerian growing banks.

He linked the lender’s superlative performances to exceptional service delivery, robust investments and deployment of critical technologies and solutions and responsive operational system.