Jaiz Bank Plc recorded a modest increase in profit for the first half of 2026, with earnings supported by higher financing and investment income despite rising operating expenses.
The bank’s unaudited financial statements for the six months ended 30 June 2026, showed that profit after tax rose to N15.09bn, up from N14.45bn in the corresponding period of 2025. Profit before tax also increased to N15.42bn, compared with N14.76bn a year earlier.
Gross income from financing and investment transactions climbed to N54.50bn from N44.01bn, driven by stronger income from financing contracts, which grew to N29.61bn from N19.65bn. Income from investment activities also improved to N25.89bn, compared with N24.36bn in the first half of last year.
After accounting for impairment charges, net income rose to N54.82bn from N43.66bn. However, returns paid to equity investment account holders increased to N15.21bn, while the bank’s share as equity investor reached N39.61bn, up from N31.66bn a year earlier.
Operating costs remained elevated during the period. Staff expenses jumped to N11.30bn from N6.98bn, while other operating expenses rose to N13.84bn from N10.36bn. Depreciation and amortisation also increased to N1.49bn, bringing total operating expenses to N26.64bn, compared with N18.44bn in the corresponding period of 2025. Related News Access bank debunks shutdown rumors, reassures customers of uninterrupted operations BUA Foods posts N292bn as H1 profit despite revenue decline JUST IN: Otedola buys N222bn additional First HoldCo shares to boost stake
