We spent N70bn in 10 years financing agric, N70bn SMEs – Jaiz Bank




Nigeria’s first non -interest financial institution, Jaiz Bank says over N75 billion has been spent since it started operations financing the agricultural sector.

Jaiz Bank’s Managing Director Hassan Usman, who said this Thursday in Abuja, also said the Bank financed Small and Medium Enterprises (SMEs) to the tune of N60 billion. 

He said: “We have worked with partners to create more than 3,000 units across Nigeria, we have done financing to SMEs to the tune of more than N60bn, with this small number of years, we have also financed more than 4,000 corporates and more than 5,000 SME.”

The premier  non-Interest bank, over the last 10 years has grown it’s net worth to N300 billion.

He said its profit before tax has grown by an average of about 40 per cent over the last four years with its customer base reaching almost a million across all sectors.

“We have just reached ten years and we are going to have our tenth AGM on the 16th and it will be preceded with a dinner to celebrate our reaching 10 years and the milestones that we have achieved, so we are inviting you to grace that occasion and be part of the celebration.

The MD noted that despite venturing into the uncharted territory of Islamic banking in Nigeria, the company was able to achieve the feat with the N12bn it started with in 2012.

The MD noted that the bank, which commenced operations with three branches and is classified as a regional branch, has increased to over 45 branches across the federation, adding that it has consistently been growing at about 30 per cent over the last five years.

“For the last two years, we have been consistently paying dividends, though small, it is competitive. During our first dividend, we paid about 800m but from the second one, each year we have been paying a billion after the AGM, the journey has been satisfying for us. he said.

He said its profit before tax has grown by an average of about 40 per cent over the last four years with its customer base reaching almost a million across all sectors.

“We have just reached ten years and we are going to have our tenth AGM on the 16th and it will be preceded with a dinner to celebrate our reaching 10 years and the milestones that we have achieved, so we are inviting you to grace that occasion and be part of the celebration.

Related content you may like