TAJBank Records Highest Industry EPS Growth Rate

By April 29, 2021 NEWS

TAJBank, Nigeria’s non-interest banking services provider, has recorded the highest earning per share (EPS) growth rate in the nation’s banking industry with its shareholders earning N11.82 per N1.00 share, representing an appreciation of 1,182% growth rate in the financial year 2020.

This is even as the lender reported N845 million Profit After Tax (PAT) in its first year of operations ending December 2020 just as its other performance indices were upswing.

The impressive performance is coming despite the devastating impact of the COVID-19 pandemic on the global, and particularly Nigeria’s economy.

TAJBank’s financial statements already approved by the monetary authorities indicated that the lender grew its total assets from N9.2billion in 2019 to N50 billion in 2020, representing a 443% increase.

A further analysis of the bank’s financials showed 1,495% growth while its agency banking network, TAJExpress, recorded over 3,000 agents within its first year of operations.  

TAJBank has guaranteed the safety of depositors’ and investors’ funds, recording no single incidence of fraud since its inception.

Commenting on the performance, the Founder and Chief Operating Officer, Mr. Hamid Joda, stated: “ This is indicative that in this short period of business operations we have received such a massive amount of support and encouragement from various bodies and individuals.

“Breaking even in nine months of operations is a laudable feat and we are appreciative of the enormous support and encouragement that we have received so far. We assure our customers that we will continue to explore the business landscape with a view to consistently deliver on our mission to provide the very best of products and services to our customers”.

The bank’s Co-founder and Chief Marketing Officer, Mr. Sherif Idi, also enthused: “In our business environment, creating products and services that fully resonate with our customers while addressing their needs is a priority.

“We are delighted with the satisfaction rate and feedback we have received so far on TAJBank, a thought leader in the increasingly dynamic non-interest banking sub-segment of the banking industry, and its numerous value-adding services to customers.”