The emir of Kano, His Royal Highness, Muhammad Sanusi II, has lauded Jaiz Bank for declaring a profit of over N700 million in four years of its inception.
The emir made this known when the management of Jaiz Bank paid him a courtesy call at his palace yesterday after the successful conduct of Customers’ Awareness Meeting and the engaging of Islamic clerics on the second day, held at The Afficent, Kano.
Emir Sanusi said the bank had done a commendable job for making profit within four years of its operation as against the normal practice of the conventional banks that took up to 10 years before profit declaration.
In an interview with newsmen during the Customers’ Awareness Meeting, the acting managing director of Jaiz Bank, Mahe Abubakar Mahmoud, disclosed that the Bank had a total balance sheet size of N65 billion by May 31, 2016.
He explained that customers’ deposit stood at N50 billion, while the shareholders fund stood at N15 billion, making the bank worth N65 billion in four years only.
The acting MD further disclosed that the bank was expanding its branches across the nation, with four additional branches in Kano and neighbouring the states.
Abubakar said that in the next 24 months, the bank will open branches in more commercial states like Logos, Port Harcourt and the rest.