Nigerian Islamic bank Jaiz targets N5.41b gross income in Q4
Published 09 Sep,2020 via The Nation - The management of Jaiz Bank Plc has projected that the flagship non-interest bank will post a gross income of N5.41 billion in the fourth quarter with average pre-tax profit per average sales expected at 13.03 per cent.
In a regulatory filing at the Nigerian Stock Exchange (NSE), Jaiz Bank, Nigeria’s first non-interest bank and the only publicly quoted alternative finance institution, predicted that profit before tax will be N705.37 million while profit after tax is expected to close the three-month period at N634.83 million.
The forecast, signed by Jaiz Bank’s Chief Financial Officer, Abdulfattah Amoo, indicated that the bottom-line performance was predicated on financing income of N4.94 billion and financing expenses of N1.39 billion, leaving net revenue from funds at N3.55 billion.
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Taofik Salako, Deputy Group Business Editor