TAJBank, Nigeria’s leading non-interest banking services provider, has recorded the highest earning per share (EPS) in Nigeria’s banking industry with its shareholders earning N11.82 per share, representing an appreciation of 1,182 per cent on each N1 funding by them within the monetary year 2020.
This is even because the lender reported N845 million Revenue After Tax (PAT) in its first year of operations ending December 2020 with its property rising by 443 per cent throughout this entry interval.
According to a statement from the bank, the efficiency additionally lends credence to the success and market acceptance of the non-curiosity banking model.
The bank’s impressive scorecard was posted during the financial year amid the devastating impact of the COVID-19 pandemic on the global, and particularly Nigeria’s economic landscape.
TAJBank’s monetary statements, already authorized by the financial authorities, indicated that the lender, which had achieved its breakeven mark barely nine months after it debuted in the non-interest banking terrain, grew its total property from N9.2 billion in 2019 to N50 billion in 2020, representing a 443% enhance and outstanding progress.
Further analysis of the moral and value-driven bank’s financials confirmed 1,495% growth in its deposit base showcasing the lender’s capacity to thrive in the non-interest banking sub-sector through innovation and efficient service delivery in the face of the COVID-19 triggered disruptions in the monetary sector.
The bank has additionally grown its agency banking network (TAJExpress) to over 3,000 agents within its first year of operations.
Fairly remarkably, at a time that electronic frauds are threatening the global banking system, TAJBank has guaranteed the safety of depositors’ and investors’ funds, recording no single incidence of fraud since its inception.
Commenting on the bank’s impressive performance in its maiden year and capacity to break even within nine months of operation, the founder and Chief Operating Officer, Mr. Hamid Joda, stated: “Breaking even in nine months of operation is a laudable feat and we’re appreciative of the big assist and encouragement that now we have obtained so far. We guarantee our customers that we will proceed to explore the enterprise landscape with a view to constantly ship on our mission to supply the perfect of services and products to our customers.”
The bank’s co-founder and Chief Marketing Officer, Mr Sherif Idi, also stated: “In our enterprise environment, creating products and services that fully resonate with our customers while addressing their needs is a priority.
“We’re delighted with the satisfaction price and feedback we now have received so far on TAJBank, a thought chief in the increasingly dynamic non-interest banking sub-segment of the banking industry, and its numerous value-adding services to clients