This is according to a statement by TAJBank’s Chief
Executive Officer (CEO), Mr Ahmed Joda
Joda said that the audited financial statements of the bank
also reflected an increase in its Profit Before Tax (PBT) to N6.019 billion,
which is the highest in the banking sub-sector and surpassed analysts’
projections.
Additionally, TAJBank also made history early this year when
it listed the first tranche of N100 billion Sukuk Bond on the Nigerian Exchange
Limited (NGX) after the successful issuance.
Joda said that a further analysis of the latest audited
financial statements showed that its total assets rose from N212.021 billion in
December 2022 to N335.017 billion at the end of June 2023.
He said that the figures indicated a 58 per cent increase.
“Its gross earnings increased by 67 per cent from N136.149
billion at the end of December 2022 to N227.031 billion as of the end of June.
“Other highlights of the bank’s financial scorecard in the
first half of 2023 reflected that the financing also significantly increased by
62 percent from N78.235 billion recorded as of December 2022 to N126.725
billion by June.
“The deposits base surged to N251.250 billion from N161.958
billion as of December 2022, while its total equity grew by 88 percent from
N19.135 billion in December 2022 to N36.706 billion as of June,’” he said.
Joda, attributed TAJBank’s enviable feat to the increasingly
proactive strategies being adopted by the management to respond to emerging
trends in non-interest banking and deployment of the right resources.
“What I can say about TAJBank’s latest scorecard is that we
have demonstrated that hard work pays.
“As we have maintained over the past three years, our
interest is in our customers, and we are pursuing this goal with all resources
available to us to tell the whole world that TAJBank is the way to go in
non-interest banking.
“To demonstrate our commitment to this customer-friendly
corporate slogan, we are investing in world-class technologies and digital
payment solutions in our services nationwide,” he said.
“In pursuit of the non-interest financial inclusion drive,
we have also opened five branches this year and plan to open more in other states
in the next few months”, he said.
TAJBank’s executive director, Mr. Sherif Idi, said that the
successes were made possible by the bank’s shareholders and customers.
“Our thanks go to our growing customers and shareholders,
whose belief in our vision and capacity to drive TAJBank to the leading edge of
market competition has taken us this far.
“Let me assure them that TAJBank’s management and staff will continue to do their best to serve them better and protect their interests, which we value so much in all areas of operations, he said. NAN