Jaiz Bank

Jaiz Bank Plc
Private
Industry Financial Services
Founded 2003
Headquarters Abuja, Nigeria
Key people
 Alhaji Umar Mutallab
Chairman
Mahe Abubakar
Ag.Managing Director & Chief Executive Officer[1]
Products Savings, Checking, Investments
Revenue DecreaseAftertax:US$6.74 million (NGN:1.07 billion) (2012)
Total assets US$88.8 million (NGN:14.1 billion) (2012)
Website Homepage

Jaiz Bank Plc, is a non interest bank in Nigeria. It is the first non-interest bank established in the country.[2]

Overview

As of December 2012, the bank was a medium-sized, but growing financial services provider in Nigeria. At that time, the bank's total assets were valued at US$88.8 million (NGN:14.1 billion), with shareholders' equity of about US$63.6 million (NGN:10.1 billion.[3]

Headquartered in Abuja, the capital city of the country, Jaiz Bank is in the process of expanding to urban centers in all 36 states of the Federal Republic of Nigeria. In pursuit of that goal, the bank has received approval to increase shareholders' capital from the current value, to US$92.3 million (NGN:14.3 billion). In January 2013, print media reports indicated that, at that time, shareholder's equity in the bank exceeded US$71 million (NGN:11 billion).[4] The bank is expected to apply for a national banking license, once it meets its shareholders' capital objectives.[5]

History

The institution was founded in 2003, as Jaiz International Plc. On 11 November 2011, Jaiz International received a license from the Central Bank of Nigeria, the national banking regulator, to operate as a regional bank. On 6 January 2012, the institution commenced business as Jaiz Bank Plc in offices and branches in Abuja, Kaduna and Kano.[6][7]

Ownership

The shares of stock of Jaiz Bank Plc, are privately held. Although the detailed shareholding remains largely unknown, the five major shareholder groups are depicted in the table below:

Jaiz Bank Stock Ownership
Rank Name of OwnerPercentage Ownership
1Islamic Development Bank
2Foreign Institutional Investors
3Foreign Private Investors
4Nigerian Institutional Investors
5Nigerian Private Investors
Total100.00

Branch Network

As of December 2013, Jaiz Bank Plc maintains networked branches at the following locations:[8]

  1. Head Office - 73 Ralph Shodeinde Street, Central Business District, Abuja
  2. Kano Branch One - 55A Tafawa Balewa Road, Off Murtala Mohammed Way, Kano
  3. Kaduna Branch - 11A Ali Akilu Road, Kaduna
  4. Gombe Branch - 8A New Market Road, Commercial Area, Gombe
  5. Maiduguri Branch - 18, Shehu Laminu Way, Opposite State Specialist Hospital, Maiduguri
  6. Kano Branch Two - 13 Bello Road, Kano
  7. Katsina Branch - 109, IBB Way, Kofar, Kaura, Katsina
  8. National Assembly Branch - National Assembly, White House Basement, Abuja[9]
  9. Wuse Branch - 36 Douala Street, Erisco Bonpet Plaza, Zone 5 Wuse, Abuja
  10. Gusau Branch - 21 Canteen Road, Opposite CBN Building, Gusau
  11. Lagos Office - 2nd Floor Xerox Building, 90 Awolowo Road, Ikoyi

External links

See also

External links

References

  1. ↑ Bangladesh Banker Appointed New MD for Jaiz Bank
  2. ↑ Jaiz Bank Is First Non-interest Bank Established In Nigeria
  3. ↑ Jaiz Bank Records Operating Loss In 2012
  4. ↑ Capital Base Exceeds 11 Billion Niara
  5. ↑ Jaiz Bank Seeks National Banking Licence
  6. ↑ History of Jaiz Bank Plc
  7. ↑ The Origins of Jaiz Bank Plc
  8. ↑ Branches of Jaiz Bank Plc.
  9. ↑ Jaiz Bank Increases Branches To Ten
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