Jaiz Bank Plc reported a 1.8 per cent increase in profit after tax to N23.28 billion for the nine months ended September 2026, as higher income from financing contracts helped offset rising operating expenses and weaker returns from investment activities.
The bank’s unaudited financial statements showed gross earnings increased 16.2 per cent year-on-year to N88.16 billion from N75.90 billion in the corresponding period of 2025.
Income from financing contracts rose 47.3 per cent to N45.87 billion, while income from investment activities declined 7.0 per cent to N38.14 billion. The shift suggests financing activities accounted for a larger share of earnings, reducing the bank’s dependence on investment income.
Gross income from financing and investment transactions increased 16.4 per cent to N84.01 billion. However, the bank’s share of income after returns to equity investment account holders rose by a more moderate 13.7 per cent to N59 billion.
Total income increased 13.6 per cent to N63.15 billion, while expenses climbed 22.1 per cent to N39.46 billion. Staff costs rose to N17.20 billion from N12.61 billion, while other operating expenses increased to N19.87 billion.
Consequently, profit before tax grew just 1.7 per cent to N23.69 billion, while profit after tax advanced to N23.28 billion from N22.88 billion. Earnings per share increased to 52.22 kobo from 51.31 kobo.
The balance sheet showed stronger business expansion. Total assets rose 26.1 per cent to N1.69 trillion from N1.34 trillion in September 2025, supported by a 30.2 per cent increase in net financing assets to N305.25 billion.
Customer current deposits increased 46.5 per cent to N943.48 billion, while unrestricted investment accounts grew 7.3 per cent to N573.72 billion. Combined customer funding reached N1.52 trillion, up 28.8 per cent year-on-year.
Total liabilities increased 25.5 per cent to N1.60 trillion, while shareholders’ equity rose 36.9 per cent to N93.60 billion. Retained earnings declined to N23.90 billion from N28.80 billion, reflecting the bank’s equity movements during the period.
Cash flow also improved. Net cash from operating activities increased 58.5 per cent to N334.86 billion, compared with N211.31 billion in the corresponding 2025 period. Cash and cash equivalents stood at N853.04 billion, up from N669.07 billion.
The improvement in operating cash flow, alongside deposit growth, points to stronger funding inflows, although the bank’s modest profit growth indicates that cost management remains a key challenge.
On the Nigerian Exchange, Jaiz Bank currently trades at N7.85 per share, with a market capitalisation of N350 billion and a year-to-date share price return of 80.27 percent.
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