Jaiz Bank Secures Approval to Raise N150bn Capital

At its 14th Annual General Meeting in Abuja, Jaiz Bank PLC's shareholders approved the bank's request to raise an additional N150 billion in capital to support its expansion drive and boost lending activities. Dr.

Haruna Musa, the Managing Director and Chief Executive, outlined that the capital injection will be undertaken through various financial instruments and is part of the bank's growth strategy for the 2025 financial year. Despite facing macroeconomic challenges such as inflation and exchange rate volatility, Jaiz Bank demonstrated resilience, with total assets rising by 19% to N1.08 trillion in 2024 and projected to reach N1.29 trillion in 2025.

Customer deposits increased by 24% to N904 billion, and net risk asset investments grew by 27% to N671 billion. The bank's gross earnings rose by 24% to N102.81 billion, with profit before tax increasing by 28% to N31.24 billion.

The capital raise will enhance the bank's capacity to participate in larger transactions and support key sectors of the economy, including agriculture and renewable energy projects.