…New capital to finance larger-ticket deals, agriculture, clean-energy projects
Jaiz Bank Plc reported a 28% increase in profit before tax for 2025 and unveiled plans to raise N150 billion through a public offer, as Nigeria’s largest non-interest lender seeks to expand its capacity to finance bigger corporate transactions, agriculture and renewable-energy projects.
Profit before tax rose to N31.24 billion in the year ended Dec. 31, 2025, from N24.44 billion a year earlier, driven by growth in financing activities, investment income and customer transactions, Haruna Musa, managing director and chief executive officer told shareholders at the bank’s annual general meeting in Abuja on Wednesday.
The lender’s total assets climbed 19% to nearly N1.3 trillion from N1.08 trillion in 2024, while customer deposits increased 24% to N1.12 trillion.
Net financing assets and investments grew 27% to N849 billion, highlighting the bank’s continued expansion across key sectors of the economy.
Gross earnings rose 24% to N102.81 billion from N82.87 billion a year earlier.
Jaiz bank also improved operational efficiency, with its cost-to-income ratio declining to 58.09% from 60.42% in 2024.
Capital adequacy ratio rose to 26.89% from 23.87%, while its liquidity ratio stood at 43.45%, comfortably above regulatory requirements.
“Today, Jaiz Bank is poised to match the capital of other conventional players,” Musa said after shareholders approved the additional N150 billion capital raise.
Jaiz became the first non-interest lender to meet the Central Bank of Nigeria’s revised minimum capital requirement, meaning the new fundraising is aimed at supporting growth rather than regulatory compliance.
The fundraising, which Musa said could be executed in two or three tranches, is expected to commence immediately after regulatory approvals and be completed before the end of the third quarter of this year.
According to him, the fresh capital will significantly expand the bank’s lending capacity by increasing its single-obligor limit and enabling participation in larger transactions that are currently beyond its balance-sheet capacity.
“Today, we have a cocoa trader who is asking for $100 million from the bank, but our current single obligor limit cannot accommodate such a transaction,” Musa said.
The bank plans to deploy part of the proceeds towards financing export-oriented businesses, particularly commodity traders with dollar-denominated earnings, as well as agricultural value chains, food preservation infrastructure and renewable-energy projects.
The lender also intends to deepen support for small and medium-sized enterprises and agriculture through new products awaiting approval from the Central Bank of Nigeria.
“We have an array of products that we are just awaiting final approval from the Central Bank of Nigeria, especially on SME and retail, so that we can launch,” Musa said.
The products are expected to allow customers access financing digitally without visiting bank branches and will include cash-flow-based lending for small businesses, reducing reliance on traditional collateral requirements.
Jaiz is also betting on digital banking and agency banking networks to drive financial inclusion and extend its reach into underserved communities.
Musa said the bank intends to leverage technology and alternative delivery channels to serve customers across the country, particularly in rural areas.
The lender currently operates 55 branches nationwide and plans to open 10 additional locations before the end of the year, bringing its network to 65 branches. Operating presently in 26 states, the bank aims to establish a presence in all state capitals within the next two years.
Beyond Nigeria, the bank is targeting expansion into other markets as it strengthens its capital base.
“With this strategic capital initiative, we intend in the next five years to start seeing Jaiz Bank branches across Africa and other parts of the world,” Musa said.
Despite concerns over rising operating costs, inflation and global economic uncertainty, Musa said the bank remains optimistic about its outlook for 2026.
He cited ongoing cost-cutting measures, including migration to alternative energy sources, deployment of solar-powered infrastructure and plans to introduce electric vehicles into its operations.
The bank has also renegotiated vendor contracts and implemented efficiency measures aimed at further reducing operating expenses. Some branches have already moved off-grid, reducing reliance on diesel and public power supply.
On asset quality, Musa said the bank remained within the regulatory threshold for non-performing loans despite challenges affecting parts of the banking industry
He noted that preliminary performance indicators for 2026 suggest the lender remains on track for another year of growth despite geopolitical tensions and economic headwinds.
He added that the bank expects its second-quarter performance to exceed the corresponding period of last year.
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