Jaiz Bank Records N9.9 Billion Earning

For the first quarter of 2023, Jaiz Bank Plc has reported gross earnings of N9.88 billion.

According to a statement yesterday, the bank’s unaudited results indicates that it had recorded 44.55 per cent profit growth in its pre and post-tax, showing that the gross income had risen by 38.3 per cent as at end of the first quarter on March 31, 2023.

“Gross income rose to N9.88bn in Q1 2023 as against N7.2382b in Q1 2022.

"Also, Profit Before Tax (PBT) reached N1.59bn, a year-on-year increase of 45.62 per cent over the N1.10bn reported in Q1 2022.

“The bank initiated several measures to pursue greater efficiency and to realign our business and strategic priorities resulting to a significant growth in the balance sheet size from N379.82 billion by December, 2022, to N452.82bn by March, 2023,” the statement reads in part.

The bank, however,  had forecasted profit before tax and Profit after tax of N1.40 billion and N1.26 billion respectively.