Jaiz Bank: Best Islamic Bank Nigeria 2024

Jaiz Bank Plc, Nigeria’s leading non-interest bank, has consistently demonstrated significant growth and outstanding achievements. Founded in 2012, Jaiz Bank has rapidly expanded from its initial three branches to over 50 branches across Nigeria, reflecting its robust growth strategy and commitment to ethical banking principles. The bank’s financial performance has been impressive, with gross earnings rising by 42 percent from ₦33.2bn in 2022 to ₦47.2bn in 2023, and profit before tax increasing by 66.7 percent from ₦6.63bn to ₦11.05bn in the same period. In the first quarter of 2024, Jaiz Bank’s pre-tax profit surged by 275 percent from ₦1.6bn in Q1 2023 to ₦6bn, showcasing its strong operational capabilities and strategic financial management. The bank’s assets also grew significantly, with the balance sheet expanding by 52.7 percent from ₦379.82bn in 2022 to ₦580.13bn in 2023, further demonstrating its financial stability and growth trajectory. Jaiz Bank’s strategic vision aims to position it as the leading ethical bank in Africa by 2027. This includes substantial investments in digital banking and fintech, enhancing customer experience, and expanding its branch network to meet the growing demand for non-interest banking services. The bank’s focus on ethical financial services, its customer-centric approach, and truly innovative product offerings have solidified its reputation as a trailblazer in Nigeria’s banking sector. Jaiz Bank’s dedication to excellence ensures it remains a leading force in the industry. The CFI.co Judging Panel congratulates Jaiz Bank on winning the 2024 award for Best Islamic Bank (Nigeria).