According to the bank’s approved financial statements, profit before tax (PBT) climbed by 74 per cent to ₦31.56 billion, up from ₦18.17 billion recorded in the previous financial year. The impressive growth reflects the institution’s expanding market presence and increasing demand for ethical banking services.
The results also showed a substantial increase in the bank’s balance sheet, with total assets rising by 41 per cent to ₦1.34 trillion from ₦953 billion in 2024. This growth highlights the bank’s continued expansion and strengthening position within Nigeria’s financial services industry.
Earnings, Asset Base Record Significant Growth
TAJBank’s gross earnings grew by 71 per cent to ₦132.56 billion, compared to ₦77.55 billion in the preceding year, reflecting stronger revenue generation across its operations.
Similarly, gross earning assets surged by 81 per cent to ₦847.71 billion from ₦467.38 billion, indicating increased investment activity and growth in income-generating assets.
One of the most notable highlights of the financial report was the sharp rise in shareholders’ funds. Total equity increased by 144 per cent to ₦149.23 billion, up from ₦61.25 billion recorded a year earlier, further strengthening the bank’s capital position and long-term growth prospects.
The bank also reported an earnings value of ₦1.037 trillion, while maintaining a capital adequacy ratio of 30 per cent, a level that underscores its financial resilience and capacity to support future business expansion.
BCAN Commends Bank’s Role in Financial Inclusion
Reacting to the results, President of the Bank Customers Association of Nigeria, Uju Ogubunka, described the performance as evidence of the bank’s growing impact and operational strength.
“The bank’s performance is excellent evidence that the bank is aggressively penetrating its targets, especially in rural areas, and thus contributing to the level of financial inclusion of the people nationwide. It is also a testament to the profitability and viability of the non-interest banking sector in Nigeria,” he said.
His remarks reflect growing recognition of the role non-interest financial institutions are playing in expanding access to banking services, particularly among underserved populations and communities outside major urban centres.
Management Attributes Growth to Strategic Focus
Managing Director and Chief Executive Officer of TAJBank, Hamid Joda, attributed the strong financial performance to the commitment of the board and management team to deepen the bank’s footprint in Nigeria’s ethical banking segment.
The bank’s Executive Director, Sherif Idi, said the results were consistent with the institution’s long-term vision and strategic objectives.
“The FY2025 performance of TAJBank is in furtherance of its corporate vision and mission and I want to assure all our stakeholders, particularly the shareholders and customers, that our bank shall continually promote their interest in line with our corporate shared value always,” he said.
Outlook Remains Positive
The latest performance reinforces TAJBank’s position as one of Nigeria’s fastest-growing non-interest financial institutions. With rising profitability, stronger capital buffers, expanding assets and increasing market penetration, the bank appears well-positioned to capitalize on growing demand for ethical and alternative banking solutions.
Industry analysts say the results also highlight the increasing viability of non-interest banking in Nigeria, a segment that continues to attract customers seeking innovative, inclusive and value-driven financial services.