Jaiz bank pic says in that in the 10 years of its existence, it has grown its balance sheet from N12 billion in 2011 to N300 billion in 2021.
Within the same period, the bank witnessed rapid branch expansion from three to 45 branches spread across the country today.
Managing Director/ CEO of Jaiz Bank, Mallam Hassan Usman stated this at a media parley in Abuja on the ten years anniversary of the bank.
Usman while recalling the initial scepticism and fear of Islamization that heralded the concept of non interest banking pioneered by the bank 10 years ago said the concept has now been embraced by Nigerians of different creeds and faith.
“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 said.
Hassan identified housing and agriculture as sectors the bank’s lending has impacted.
According to him, 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”.