Jaiz Bank Fluctuates as Audited Earnings Release Lingers

Jaiz Bank Fluctuates as Audited Earnings Release Lingers

Jaiz Bank Plc market value closed at about N145 billion in the equities market, according to trading details obtained from the Nigerian Exchange. The Nigerian domicile Islamic lender has been tagged for missing appropriate regulatory filling to keep investors, shareholders informed about earnings and related information.

The non-interest bank board of directors had met in March 14 to consider 2024 audited financial statement, according to document reviewed by MarketForces Africa, without mentioning dividend payable to shareholders. 

Excluding Islamic Development, Jaiz Bank Plc has six influential shareholders with combined interest climbed to 74.82% in December 2024 following an additional capital injection, up from 65.15% in 2023.

In total, the bank has seven major shareholders with 80.44% combined stake in 2024, which is a significant increase in 12 months when compared with 56.09% holdings recorded in 2023.

With soft weekly price appreciation recorded in the stock market, the Islamic lender share price closed at N3.25 on Friday as 1.66 million units valued at more than N5.485 million exchanged hands.

Its share price fluctuated between N3.21 and N3.38 within trading sessions before it closed at N3.25.  At the current market price, Jaiz Bank Plc is trading a moderate discount to 52-week high.

For most part of the year, the Islamic bank share price has traded range bound, reflecting its shareholding structure and earnings track record amidst midst regulatory filing. Jaiz Bank Plc forecasted to deliver N8.078 billion as net profit in the second quarter of 2025 with expectation its gross earnings will reach N28.392 billion. 

But, the non-interest bank has failed to submit first quarter earnings scorecard.  The bank audited financial statement for 2024 is overdue for filing on the Nigerian Exchange, significant possible sanction for failing to meet regulatory demand for listed stocks . #Jaiz Bank Fluctuates as Audited Earnings Release Lingers Dangote, Jaiz Bank Drive Intraday Loss in Equities Market