Type Private Website Homepage Founded 2003 | Industry Financial Services Headquarters Abuja | |
Key people Alhaji Umar Mutallab
Chairman
Mahe Abubakar
Ag.Managing Director & Chief Executive Officer Products Savings, Checking, Investments Revenue Aftertax:US$6.74 million (NGN:1.07 billion) (2012) Total assets 88.8 million USD (NGN:14.1 billion, 2012) | ||
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Jaiz Bank Plc, is a non interest bank in Nigeria. It is the first non-interest bank established in the country.
Contents
Jaiz bank secures national banking license
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.
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). The bank is expected to apply for a national banking license, once it meets its shareholders' capital objectives.
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.
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:
Branch Network
As of December 2013, Jaiz Bank Plc maintains networked branches at the following locations:
- Head Office - 73 Ralph Shodeinde Street, Central Business District, Abuja
- Kano Branch One - 55A Tafawa Balewa Road, Off Murtala Mohammed Way, Kano
- Kaduna Branch - 11A Ali Akilu Road, Kaduna
- Gombe Branch - 8A New Market Road, Commercial Area, Gombe
- Maiduguri Branch - 18, Shehu Laminu Way, Opposite State Specialist Hospital, Maiduguri
- Kano Branch Two - 13 Bello Road, Kano
- Katsina Branch - 109, IBB Way, Kofar, Kaura, Katsina
- National Assembly Branch - National Assembly, White House Basement, Abuja
- Wuse Branch - 36 Douala Street, Erisco Bonpet Plaza, Zone 5 Wuse, Abuja
- Gusau Branch - 21 Canteen Road, Opposite CBN Building, Gusau
- Lagos Office - 2nd Floor Xerox Building, 90 Awolowo Road, Ikoyi