Jaiz Bank Plc, the premier noninterest bank in Nigeria says it will grow its income and profitability consecutively over the next five years, with pre-tax profi t for the period expected to gross N15.86 billion. Managing Director of the Bank, Hassan Usman, who led top management to present its Facts Behind the Figures at the Nigerian Stock Exchange (NSE), Lagos yesterday gave the assurance that it will sustain year-on-year growth over the next five years.
Usman said the Bank has the vision to be the leader of noninterest banking in Sub Saharan Africa. He said the bank has been positioned to sustain its growth trajectory, pointing out that the bank has the necessary resources to achieve its growth targets.
Highlights of the five-year financial forecast put the total income at about N81.17 billion while profit after tax is projected at N11.09 billion. Gross income is expected to rise to N10.07 billion in 2018 and subsequently to N12.59 billion, N15.73 billion, N19.27 billion and N23.51 billion in 2019, 2020, 2021 and 2022 respectively. Profit before tax is projected to rise to N1.33 billion in 2018 and grow consecutively to N2.03 billion, N3.01 billion, N43.03 billion and N5.47 billion in 2019, 2020, 2021 and 2022 respectively.
After taxes, net profi t will rise to N927 million in 2018 and grow further to N1.42 billion in 2019. Profi t after tax is projected to jump to N2.11 billion in 2020 and rise consecutively to N2.82 billion and N3.83 billion in 2021 and 2022 respectively.
