Shareholders approve Jaiz Bank’s N150bn capital raise to strengthen lending capacity, support SMEs and accelerate national expansion plans.
Shareholders of Jaiz Bank Plc, on Wednesday, approved the bank’s request to raise an additional N150 billion capital to fund its expansion drive as well as boost lending to businesses.
Speaking at the company’s 14th Annual General Meeting (AGM) in Abuja, the company’s Managing Director/Chief Executive, Dr. Haruna Musa, said the proposed capital injection will be undertaken through various financial instruments.
Musa said the 2025 financial year was characterised by remarkable growth and strategic progress for the bank.
He stated that despite a challenging macroeconomic environment characterised by inflationary pressures, exchange rate volatility, and elevated operating costs, the bank demonstrated resilience, discipline, and strong execution of its strategic objectives.
According to him, the bank’s total assets rose by 19 per cent, from N1.08 trillion in 2024 to N1.29 trillion in 2025, while customer deposits increased by 24 per cent, from N904 billion to N1.12 trillion, during the period.
He disclosed that net risk assets and investments grew by 27 per cent, from N671 billion to N849 billion, underscoring the bank’s commitment to financing productive sectors of the economy.
Musa said gross earnings also rose by 24 per cent to N102.81 billion compared to N82.87 billion in 2024, while profit before tax increased by 28 per cent to N31.24 billion from N24.44 billion recorded in the preceding year.
He attributed the strong earnings performance to growth in financing activities, investment income, and increased customer transactions.
The bank also recorded improvements in operational efficiency as its cost-to-income ratio declined from 60.42 per cent in 2024 to 58.09 per cent in 2025.
Musa said the bank maintained a strong capital and liquidity position, with its Capital Adequacy Ratio (CAR) improving from 23.87 per cent to 26.89 per cent year-on-year, while its statutory liquidity ratio stood at 43.45 per cent, significantly above the regulatory threshold.
He described 2025 as a transformational year for the institution, citing the successful execution of its corporate rebranding programme, expansion of digital banking services, enhanced customer acquisition across retail, SME, commercial and corporate segments, as well as increased financing support for agriculture, infrastructure, and renewable energy projects.
The managing director also highlighted the upgrade of the bank’s credit rating by GCR from BBB- to BBB and its admission as the first African institution to become a Primary Dealer of the International Islamic Liquidity Management Corporation (IILM).
Addressing shareholders on the approved capital raise, Musa said the fresh funds would be raised in phases and deployed to support the bank’s next growth cycle.
He said, “As part of the shareholders’ resolution passed today, we will move to the next stage of the capital-raising process.
“The target is to raise the required capital in phases, possibly through two or three tranches.”
He explained that subject to regulatory approvals and completion of the necessary processes, implementation of the capital programme was expected to commence before the end of September.
The Jaiz Bank chief said the additional capital would significantly enhance the bank’s capacity to participate in larger transactions and support strategic sectors of the economy.
According to him, the stronger capital base will enable the bank to undertake bigger financing deals, including transactions worth hundreds of millions of dollars, while deepening support for manufacturing, agriculture and small and medium-scale enterprises (SMEs).
He said, “The additional capital will allow us to deepen our support for key sectors of the economy. We intend to increase financing to manufacturing, agriculture and SMEs.
“We are particularly mindful of the importance of food security, which remains one of Nigeria’s major challenges. As a result, agricultural financing will continue to be a priority area for us.”
Musa added that the bank would also intensify its financing of renewable and green energy projects, stating that dedicated products had already been developed to support individuals and businesses transitioning to alternative energy solutions.
On the outlook for the current financial year, the managing director expressed optimism that the bank would achieve its targets despite prevailing global economic uncertainties.
He said recent policy reforms had continued to create new opportunities across various sectors of the economy, adding that the bank remains focused on strengthening existing businesses while leveraging emerging opportunities.
Musa disclosed that Jaiz Bank currently operated in 55 locations across 26 states and planed to open additional branches before the end of the year as part of its long-term expansion strategy.
He also reiterated the bank’s commitment to advancing financial inclusion by extending banking services to underserved communities through ethical and non-interest banking solutions.
According to him, the bank’s SME financing framework places greater emphasis on business viability and cash flows rather than traditional collateral requirements, thereby making financing more accessible to entrepreneurs and small businesses.
He said the bank would continue to expand its corporate social responsibility initiatives in healthcare, education, and community development, stressing that its interventions are aimed at directly improving the lives of Nigerians.
Musa assured shareholders that the institution would sustain its focus on digital transformation, retail and SME penetration, financial inclusion, capital strengthening and value creation, while maintaining strong governance and regulatory compliance standards.
