Saturday, April 13Inside Business Africa

Jaiz Bank promotes 216 staff, hopeful amid COVID-19 challenges

Following the successful conclusion of the 2019 appraisal, premier non-interest lender, Jaiz Bank Plc, has promoted 216 staff while193 staff got stepwise notch increment as part of the bank’s tradition of rewarding and motivating employees for higher productivity.

The exercise cut across all departments and grades, including senior, middle and junior cadre staff.

Managing Director/Chief Executive of the Bank, Hassan Usman, at the Annual General Meeting, revealed that a total of 409 staff benefited from the promotions or stepwise notch increment as part of plans towards securing a vibrant workforce of the future for the bank.

He said: “The management wants the Bank to continue to remain a great place to work for all staff, and to make it easier for them to do what they do best-delighting our numerous customers.”

Usman said there is a correlation between the performance-based incentives recently approved by the board and the overall performance of the bank in 2019.

He added that 2019 was a good year for the bank, and expressed the hope that despite the COVID-19 pandemic, 2020 will also be good.

Meanwhile, speaking at an NTA-monitored programme, Usman said Islamic banking worldwide has grown by 15 percent.
On the performance of the Bank, Usman said for the last four years, the balance sheet growth has been consistent at about 50 percent, closing 2019 with about N162billion.

“Similarly, if you look at our earnings, in 2018, we had less than N9 billion as earnings, by the end of 2019, we had almost N15 billion which is almost 65 percent growth. On profitability, we closed 2018 at about N900 million in profit and by the end of 2019 we closed at N2.1 billion in profitability, which means over a 100 percent growth.”

According to him, Islamic financing is growing because a large number of people are interested in it due to its ethical requirements to avoid interest.

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