In less than two years since Jaiz Bank Plc launched the Hajj Savings Scheme to help Muslims save ahead of the annual Hajj exercise, the customer base has hit 4,000 with N1 billion savings in the account.
Jaiz Bank Plc and the National Hajj Commission of Nigeria (NAHCON) had in September 2020 signed a Hajj Savings Scheme that would make it easier for every Muslim. NAHCON and the various state Muslim Pilgrims Welfare Boards are active participants.
The bank has also paid out over N50 million as interest on the account to the account owners and stakeholders.
CEO, Managing Director/CEO Jaiz Bank, Mr Hassan Usman, gave the update on Wednesday at the launch of a new bank branch at the HAJJ House on Zakaria Maimalari Street, Central Business District, Abuja.
On the bank performance, he said: “Jaiz Bank has been growing its balance sheet year-on-year by over 30 per cent. Our profitability has been growing by a minimum of 40 per cent. Our customer base has increased exponentially because we have also increased our branch network from just three when we started to over 40 now.
“The balance sheet has also grown from about N12bn in the first year to over N40bn in 2021. So, the bank has grown significantly.”
“We see the next coming years to be better years for growth and profitability. It is also an opportunity for value addition to the customers especially at the SMEs space” he assured.
On the new branch, he said “The location is key because it is just one kilometre away from the closest branch and four kilometres away from the head office. It is easy to reach and it will help decongest the head office and will serve the people around there.”
“The branch is very strategic and it will help our Hajj Savings Scheme programme we are running with the National Hajj Commission without hindrances,” he stated.
