In less than two years since Jaiz Bank Plc launched the Hajj Savings Scheme to help Muslims save ahead of the annual Hajj exercise, customer base has grown to 4,000 with N1 billion saved in the account .
Jaiz Bank Plc and the National Hajj Commission of Nigeria (NAHCON) had signed a Hajj Savings Scheme in September 2020 that would make it easier for every Muslim. NAHCON and the various State Councils for the Welfare of Muslim Pilgrims are active participants.
The bank also paid over N50 million as interest on the account to account holders and stakeholders.
The CEO, Managing Director/CEO of Jaiz Bank, Mr. Hassan Usman, gave an update on Wednesday during the launch of a new bank branch at HAJJ House on Zakaria Maimalari Street in the central business district of Abuja.
On the bank’s performance, he said, “Jaiz Bank has grown its balance sheet year-on-year by more than 30%. Our profitability has increased by at least 40%. Our customer base has grown exponentially because we have also grown our branch network from just three when we started to over 40 now.
“The balance sheet has also grown from around N12 billion in the first year to over N40 billion in 2021. So the bank has grown significantly.”
“We expect the next few years to be better years for growth and profitability. It is also a value-added opportunity for customers, especially in the SME space,” he said.
About the new branch, he said: “Location is key as it is only one kilometer from the nearest branch and four kilometers from the head office. It’s easy to access and it will decongest the head office and serve the people there.
“The branch is very strategic and it will help our Hajj savings program which we run with the National Hajj Commission without hindrances,” he said.