Jaiz Bank Plc expands footprint in Nigeria with new branches

Jaiz Bank Plc has expanded its footprint in Nigeria with five additional branches across the country.

The new branches have increased the total network of the branch to 39. They are located in Funtua, Katsina State; Zaria, Kaduna State; Iwo Road and Saki both in Oyo State, and Osogbo in Osun State.

In a statement made available to newsmen, the bank said opening the branches in major cities across the country is aimed at bringing non-interest financial services closer to the people who are desirous of the model of banking.

“We intend to open branches in all the geo-political regions of the country to be able to provide our unique services to the people who have been craving for ethical and non-interest banking.”

In areas where the bank is not physically present yet, it says there are robust e-banking platforms that are securely accessible.

What you should know about Jaiz Bank

Jaiz Bank Plc is a national bank as well as a quoted public company, owned by over 26,000 shareholders who are spread over Nigeria’s six geopolitical zones. The Bank’s balance sheet has grown from N12 billion in 2012 to about N62 billion, with asset financing of over N30 billion.

Jaiz Bank’s customer base has grown to over 230,000 cutting across all strata of the society.

The Bank was created out of the former Jaiz International Plc which was set up in 2003/2004 as a Special Purpose Vehicle (SPV) to establish Nigeria’s first full-fledged Non-Interest Bank.

Jaiz Bank obtained a Regional Operating Licence to operate as a Non-Interest Bank from the Central Bank of Nigeria (CBN) on the 11th of November 2011 and began full operations as the first Non-Interest Bank in Nigeria on the 6th of January, 2012 with 3 branches located in Abuja FCT, Kaduna and Kano.

Meanwhile, Jaiz Bank Plc is currently trading N0.54 on the floor of the Nigerian Stock Exchange (NSE).