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Published 10 May 2021
Jaiz Bank Plc has said its gross revenue increased by 43 per cent to N5.99bn in the first quarter of 2021 from N4.18bn in the corresponding period of 2020.
It disclosed this on Sunday in a statement, titled ‘Jaiz Bank declares N979.17m profit for Q1, 2021’.
“Profit before taxation increased significantly by 54 per cent which amounted to N979.17m as against N636.69m recorded in the same period last year,” it said.
The bank said the consistent earnings result reassured stakeholders and the investing public that the bank would brace the tape strongly at the end of the current financial year in December 2021.
Jaiz Bank posts N979 million first-quarter profit
Profit before tax increased significantly by 54 per cent which amounted to N979.17 million as against N636.69 million recorded in the same period last year.
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Jaiz Bank Plchas reported a 43 per cent increase in its gross revenue for the first quarter.
In its financial result reported to the Nigerian Stock Exchange, the bank said its revenue rose from N4.18 billion in 2020 during the same period to N5.99 billion for the period ended March 31.
Profit before tax increased significantly by 54 per cent which amounted to N979.17 million as against N636.69 million recorded in the same period last year.
By
Fri May 07 2021
Jaiz Bank Plc has recorded N979.17 million in the first three months of this year, its financial result for the first quarter ended 31 March 2021 released to the Nigerian Stock Exchange, has shown.
The result shows that the Bank’s gross revenue increased by 43 percent from N4.18 billion recorded in the same period in 2020 to N5.99bn this year.
Its Profit Before Tax (PBT) rose by 54% to N979.17m from N636.69m in Q1 of 2020.
According to the bank, the consistent earnings result is obviously reassuring to all stakeholders and the investing public that it will brace the tape strongly at the end of the current financial year in December 2021.
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James Emejo in Abuja
Jaiz Bank Plc, said it has embraced and deployed the newly introduced Quick Response Code (NQR) to ease transactions for its customers and merchants.
The NQR is an indigenous payment platform designed by the Nigeria Interbank Settlement Scheme (NIBSS), to provide a reliable and enhanced payment experience with the aim of lowering transaction costs for customers.
The Managing Director/Chief Executive, Jaiz Bank, Mr. Hassan Usman, described the solution as one of the most innovative and exiting products of the payment systems in the country.
He said the deployment of NQR by the bank was in line with its strategy of growing its retail business, deepening digital financial inclusion, and lowering transaction cost for its customers.