The Managing Director/Chief Executive Officer of the financial institution, Hassan Usman, gave the assurance, yesterday, during an interactive session with Islamic scholars and other customers in Kano.
According to Usman, the bank achieved substantial growth of its balance sheet to about N300 billion at the end of December 2021 from N12 billion in 2012.
Besides, the Jaiz boss revealed that customers’ deposits had also soared significantly from N3 billion in the last 10 years to about N210 billion at the end of 2021.
Explaining that the interactive session with the Ulama was aimed at showcasing the scorecard of the bank in the last 10 years of its establishment, Usman reminded his audience that Jaiz, which had three branches at inception, could presently boast about 45 branches across the country.
“In the first and second years of Jaiz Bank, we recorded losses. But now, we are recording profit. Our profit base goes higher every year. Even in 2020, we recorded N70 billion profit.
“We have about one million customers. Imagine when our customer base reaches about five million, our balance sheet would have reached a trillion naira. So, we are recording successes.
“We started with only three branches in Kano, Kaduna and Abuja in 2012, now we have about 45 branches across the country and plans are underway to open more,” Usman noted.
On the contribution of the bank to economic growth, the MD disclosed that about N130 billion had so far been spent to support small-scale businesses across the country.
He added that the financial institution, through a non-governmental organisation, also complemented Federal Government’s agricultural policy, supporting thousands of farmers, women and small-scale businesses through its various financial windows.
He urged the Ulama to use religious gatherings as an avenue to enlighten people about the benefits of the non-interest bank.
