Jaiz Bank Plc has stunned the financial world with a record-breaking profit after tax of N23.48 billion for the year ending December 31, 2024, more than doubling its N11.05 billion profit from 2023.
In a statement released on Saturday, Nigeria’s pioneer non interest bank announced that it posted a jaw dropping 108.99 percent growth in profits, marking its most impressive financial year yet.
The bank’s total earnings soared by 86.5 percent, climbing from N44.4 billion in 2023 to a massive N82.87 billion in 2024. According to the report, this impressive jump was largely powered by booming investment income and steady gains from financing contracts.
Investment income shot up by a staggering 159 percent, hitting N44.36 billion compared to N17.16 billion in the previous year. Financing contracts also played a key role, bringing in N32.04 billion, up from N27.36 billion in 2023.
Jaiz Bank’s latest results have been described by analysts as a game changer for the non interest banking sector, showing strong growth potential and investor confidence in Islamic finance models.
With these numbers, Jaiz is not just growing, it is setting the pace.
