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TAJ Bank records 471% growth, reaffirms commitment to service delivery

By Benjamin Alade
25 June 2021   |   3:46 am
TAJBank Limited has recorded 471 per cent growth in Profit Before Tax (PBT) in its 2020 financial year.

Founder/ Chief Operating Officer, TAJ Bank Limited, Hamid Joda (left); Managing Director, Norfadelizan Abdulrahman; Chairman, Tanko Isiaku Gwamna; and Company Secretary, Hamisu Sani, during the bank’s second yearly general in Abuja yesterday.

TAJ Bank Limited has recorded 471 per cent growth in Profit Before Tax (PBT) in its 2020 financial year.

During the financial year, the bank reported improvements in its gross earnings, which rose from by 6,066 per cent in the financial year to N3.456 billion.

With a deposit growth rate of 1,524 per cent, Return on Equity rose by 361 per cent, while it recorded growth in customer base from 1,809 to 103,853, among other positive performance indices.

Besides, shareholders of the bank 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.

Speaking at the yearly general meeting in Abuja, Chairman of the Bank, Tanko Gwamna, noted that the 2020 financial year was a remarkable year for the bank. This he said, was in terms of investment, market penetration, growth, expansion and strong financial and strategic performance that enabled the bank to position itself as one of Nigeria’s 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.

Gwamna restated the bank’s commitment to value-addition for all its shareholders and the Nigerian financial system, stressing that TAJBank’s sustainability is guaranteed by the expansive value it is creating for its shareholders, customers, employees and all stakeholders.

He assured: “Our commitment to the creation of optimal shareholders’ value remains solid and expansive.”

Noting the increasing roles of social media as an indispensable tool for customer relationship management, value addition and complaint resolution, he pointed out that TAJBank had leveraged on investments in key technologies to improve its visibility on Facebook, Instagram, LinkedIn, Google+ and WhatsApp.

Gwamna pointed out that although TAJBank’s priority was to ensure optimum performance and value addition across all stakeholders, the bank’s medium and long term target “is to be among the recipients of key awards on product and service innovation, consistently transparent corporate governance practices and service excellence through the utilization of its creative workforce and excellent management team.”

He also harped on the bank’s relentless efforts to upscale its Corporate Social Responsibility (CSR) activities in line with its vision of funding programmes and projects that promote financial inclusion, economic prosperity, equal access to opportunities, sustainable development and promote global prosperity in its host communities and the larger Nigerian society.

One of the shareholders of the bank, 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 the way the bank is growing and we are all very impressed and wish the bank more successful years ahead.

“Also, we 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.