Jaiz Bank Plc claims that throughout the course of its ten years of operation, its balance sheet has increased from N12 billion in 2011 to N300 billion in 2021.
The bank quickly expanded its branch network during this time, going from three to the current 45 locations dispersed around the nation.
At a media discussion in Abuja on the bank’s tenth anniversary, Mallam Hassan Usman, managing director and chief executive officer of Jaiz Bank, said this.
Usman noted that Nigerians of various creeds and faiths have now accepted the notion of non-interest banking, which the bank pioneered 10 years ago despite initial skepticism and concerns about Islamization.
He said, “Ten years has passed just like yesterday. The young institution has started to grow and we’re happy that we as the Pioneers have proved that the concept is workable even in the Nigerian environment”.
“Individuals, Corporates and even the public sector have also embraced non-interest principle to derive the benefit associated with the system.
“Ten years ago, the bank started with only three branches in 2012. Today we have more than 45 branches spread across Nigeria. We started with the policy size of just about 12. In our first year the balance sheet was about N 12 billion. By the end of 2021 the balance sheet has grown to N300 billion,” Hassan stated.
Sectors the bank’s lending has affected, according to Hassan, include housing and agriculture.
The provision of homes for Nigerians, in his words, is one of the areas “we know we have impacted significantly is housing delivery for Nigerians. Between us and our partners, we have delivered more than 3000 houses.
“When you look at agriculture in the last four to five years, we have financed agriculture to the tune of N75 billion. Jaiz bank is one of the leading banks in terms of financing agriculture value chain”.
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