Jaiz Bank has reported a pre-tax profit of N8.08 billion for the quarter ended March 2026, up from N7.04 billion recorded in the corresponding period of 2025.
The lender’s latest quarterly performance builds on a strong FY2025 showing, when pre-tax profit climbed 27.83% year-on-year to N31.2 billion, supported by solid financing and investment income.
Income from financing contracts rose 52.88% year-on-year to N14.8 billion in Q1 2026, while income from investment activities increased 15.01% to N12.7 billion.
On the balance sheet, retained earnings remained steady at N28.8 billion in Q1 2026, while total assets expanded to N1.3 trillion from N1.28 trillion recorded at the end of 2025.
Key highlights (Q1 2026 vs Q1 2025):
- Income from financing contracts: N14.8 billion, up 52.88% YoY
- Income from investment activities: N12.7 billion, up 15.01% YoY
- Gross income: N27.5 billion, up 32.76% YoY
- Impairment charges: N300 million vs N123.6 million
- Bank’s share as equity investor/mudarib: N21.1 billion, up 42.42% YoY
- Net fees and commissions: N896.9 million vs N1.06 billion
- Total income: N22.1 billion, up 39.23% YoY
- Total expenses: N14.02 billion vs N8.8 billion
- Pre-tax profit: N8.08 billion, up 14.84% YoY
- Earnings per share: 17.6 kobo vs 15.39 kobo
Driving the numbers
A breakdown of Jaiz Bank’s financing income showed that Murabaha transactions contributed the largest share at N11.9 billion out of the N14.8 billion generated from financing contracts.
- Ijara transactions accounted for N2.2 billion of financing income, while the remaining portion came from Bai Mu’ajjal transactions during the quarter under review.
On the investment side, Sukuk instruments remained the biggest contributor, generating N10.2 billion out of the bank’s total investment income of N12.7 billion.
- Interbank investments contributed N1.2 billion, while trading assets added N1.1 billion, further strengthening the bank’s investment income performance in Q1 2026.
Combined finance and investment income stood at N27.5 billion gross, which, after an impairment charge of N300 million, settled at a net income of N27.2 billion, up 32.10% year-on-year.
A return on equity investment account holders’ expense of N6.1 billion brought the bank’s share as equity investor and mudarib to N21.1 billion, compared with N14.8 billion in Q1 2025.
On the non-interest income side, the bank recorded net fees and commissions of N896.9 million, down from N1.06 billion in the corresponding period.
- This, combined with operating income of N150.4 million and an unrealized exchange loss of N83.6 million, brought total income to N22.1 billion.
After total expenses of N14.02 billion and a tax charge of N242.6 million, post-tax profit settled at N7.8 billion, representing a 14.37% year-on-year increase.
Balance sheet:
On the balance sheet, Jaiz Bank’s total assets rose to N1.3 trillion from N1.28 trillion, with interbank investments standing as the bank’s largest asset class at N370.2 billion.
Customer current deposits remained the bank’s biggest liability at N706.3 billion, followed by unrestricted investment accounts at N449.3 billion, pushing total liabilities to N1.2 trillion from N1.18 trillion.
Total equity increased to N98.5 billion during the quarter, with retained earnings standing at N28.8 billion as the largest component of shareholders’ funds.
Market reaction
Shares of Jaiz Bank on the Nigerian Exchange are currently priced at N9.00, significantly below their high of N14.05 reached on 25 February 2026.
At current levels, the stock could attract renewed interest, as dip-buying investors likely position for a move toward the February high above N14.
