TAJBank Claims Nigeria’s Biggest Islamic Bank by Assets, Profit
TAJBank Limited, Nigeria’s top non-interest bank (NIB), has retained its lead as the country’s biggest ethical bank, based on the 2025 regulatory-approved financial statements of all NIBs.
The Managing Director/CEO of TAJBank, Mr Hamed Joda, said this in a statement on Tuesday in Abuja.
According to him, the latest data from the Fiscal Year 2025 (FY2025) statement of the financial position of TAJBank showed that the non-interest lender had consolidated its frontline position in the subsector.
This, he said was based on Gross Assets and Profit values as well as in other Key Performance Indicators (KPIs) ratings during the year.
“Specifically, in the year under review, TAJBank’s total assets grew to N1.34 trillion from N953 billion in the preceding year, representing 41 per cent growth.
“Gross earning assets surged to N847.706 billion, from N467.377 billion in FY 2024, indicating 81 per cent surge; while total equity surged to N149.230 billion, reflecting 144 per cent growth over the N61.250 billion in FY 2024.
“A further analysis of the TAJBank’s FY 2025 approved financial statement indicated that it posted N132.563 billion in Gross earnings, representing 71 per cent growth over the N77.550 billion in the previous year.
”Earnings value of N1.037 trillion; while its Profit Before Tax (PBT) rose by 74 per cent to N31.562 billion in FY 2025, from N18.166 billion in FY 2024; and the capital adequacy ratio stood at 30 per cent”.
Joda noted that the bank’s improving performance demonstrated the Board of Directors’ and management’s strong commitment to making TAJBank the best ethical bank in Nigeria across all assessment parameters.
“We owe our shareholders, customers, regulatory authorities and workers a lot of gratitude for supporting our efforts targeted at transforming TAJBank into a global brand in the ethical banking space in the years ahead,”Joda said.
Commenting on TAJBank’s performance during the year under review, a chartered banker and former Director-General of the Chartered Institute of Bankers in Nigeria (CIBN), Dr Uju Ogubunka, cited the bank’s KPIs in the financial statement to justify his views.
He said the bank had made some progress and that its financial performance indicators between 2024 and 2025 suggested that.
Ogubunka, who is the President of the Bank Customers Association of Nigeria (BCAN), said that the total assets grew by as much as 41 per cent; the Gross Earnings and PBT grew by 81 per cent and 74 per cent, respectively.
”Returns on Assets was upward by a huge 23 per cent.
”All of these in an economy that has been variously challenged by a multiplicity of factors.
“With all the positives, there is no doubt that the bank’s performance for the 2025 financial year end can be judged to be in the positive and should be encouraged and sustained.
“It is excellent evidence that the bank is aggressively penetrating its targets, especially at the rural areas, and contributing to the level of financial inclusion of the people,” he added.
Speaking on the bank’s financial scorecard in the year under review, the bank’s Executive Director, Mr. Sherif Idi, said the performance of the bank was in line with its vision and mission.
”I want to assure all our stakeholders, particularly the shareholders and customers, that our bank will continue to promote their interest in line with our corporate shared value always.
”Over the past few years of our operations, TAJBank has been winning local and international awards for its futuristic, innovation-driven, customer-friendly and economy growth-supporting ethical banking products and services,” he said. Global Equities Markets Diverge on US-Iran Ceasefire Setback
