As the financial industry heads into first quarter of 2021, Jaiz Bank has released earnings expected for the three months period which falls between January to March. The lender in its earnings forecast stated that its gross earnings has been estimated to hit NGN6.1 billion during the period under review.
It was gathered that Interest Income of Jaiz Bank is estimated to reach NGN5.7 billion during the first quarter of next year, while, Interest Expenses will stand at NGN1.03 billion during the same period of Q1 2020.
Jaiz Bank estimated that Net Revenue from Funds has been forecasted to hit NGN4.7 billion, while Credit Impairment Charges has been estimated at NGN750 million during the period under review. The company said its Net Operating Income will hit NGN4.3 billion during Q1 2020.
Operating Expenses will be low compared to Operating Income, as Jaiz Bank estimated NGN3.5 billion for Operating Expenses. The company doesn't estimate losses into its earnings for the period under review, with Profit After Tax estimated at NGN830.4 million for Q1 2020.
Also, during the first quarter of next year, Profit After Tax is forecasted to sit at NGN747.3 million, as Jaiz Bank projected that the company will pay NGN83.04 million as Tax during the three months of the same period under review.