Board of Directors of Jaiz Bank on Tuesday, appointed Hassan Usman as substantive Managing Director to run the affairs of the bank subject to the approval of Central Bank of Nigeria (CBN).
He had acted in this same capacity in 2013.
Usman did not get the job on a platter of gold, the decision was reached after a rigorous selection exercise where seasoned Islamic bankers within and outside the country were screened and interviewed.
Usman replaces Mahe Abubakar who had been on acting capacity since December 2015.
Meanwhile, the bank declared a profit after tax (PAT) of N794.2 million the for 2015 financial year.
This represents an increase of 576 percent when compared with N126.8 million recorded in the previous year.
Speaking in Abuja at the bank’s fourth Annual General Meeting (AGM), Chairman, Jaiz Bank, Umaru Abdul Mutallab said the performance demonstrated continued growth and operational efficiency as the bank’s finance income also grew by 47 percent to N4 billion from N2.72 billion in 2014.
Mutallab said the bank’s total assets closed at N52.6 billion compared to N44 billion the previous year.
The Chairman said: “In the next five years, I see this bank (Insha Allah) in every nook and cranny of this country and other sub-Saharan African countries.
In sub-Saharan West Africa, there’s still the big problem of paucity of banking services. The small and medium scale enterprises (SMEs) do not have adequate access to financial services.
So this bank wants to champion the funding of small and medium scale enterprises.”