Prime Business Africa
Jaiz Bank generated N14.89 billion from financing contracts in the first quarter (Q1) of 2026, up by 52.87 percent when compared to the N9.74 billion recorded in Q1 2025.
Analysis of the company’s unaudited financial statements for the period ended March 31, 2026, showed that income from investment activities grew by 15.01 percent year-on-year, from N1.04 billion to N12.70 billion.
Join our WhatsApp ChannelGross income from financing and investment transactions was N27.59 billion between January and March 2026, overshadowing the N20.78 billion notched up in Q1 2025, representing a 32.75 percent growth.
However, Jaiz Bank suffered impairment charges of N300 million during the period under review, rising by 142.62 percent when compared to the N124.64 million incurred in the first quarter of 2025.
In addition, next income after provisions grew to N27.29 billion in the first three months of 2026, rising from N20.66 billion recorded in the corresponding period last year, representing 32.09 percent.
However, fees and commission revenue decreased to N1.05 billion in the first quarter of 2026, which is 31.37 percent decline when compared to the N1.53 billion recorded between January and March last year.
In the same vein, fees and commission expense dropped by 66.26 percent to N159.52 million during the period under review, falling below the N472.88 million incurred in the first quarter of 2026.
Consequently, net fees and commission plunged to N896.91 million within January and March 2026, below the N1.06 billion notched up in the first three months of last year, representing a 15.90 percent decline.
However, Jaiz Bank offset the decline with other operating income of N150.4 million in Q1 of this year, compared to the zero the financial institution recorded in the same period in 2025.
But the bank’s earnings was further impacted by an N83.69 million unrealised foreign exchange loss in the first quarter of 2026, up by 138.98 percent, when compared to the N35.02 million reported in Q1 2025.
Regardless, the company reported an N8.08 billion profit before tax (PBT) during the period under review, surpassing the N7.04 billion recorded between January and March last year by 14.83 percent.
The company incurred N242.65 million as income tax in Q1 of this year, up by 32.50 percent when compared to the N182.12 million sustained in the first quarter of 2025.
Due to the income tax, Jaiz Bank recorded profit after tax (PAT) of N7.84 billion in the first three months of 2026, exceeding the N6.86 billion earned in the corresponding period in 2025, indicating a 14.36 percent growth.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
