Business

2020 AGM: Shareholders Laud Tajbank’s Board, Mgt Over Performance

Published

4 years ago

June 24, 2021

….As Lender Records 471% Growth In Profit Before Tax

Joel Ajayi

Shareholders Of Tajbank Limited, Nigeria’s Leading Non-Interest Banking Products And Services Provider, Yesterday Commended The Board And Management Of The Bank For Its Impressive Performance In Its First Year Of Operations, Promising Continued Commitment To The Realisation Of The Vision And Mission Of The Innovation-Driven Lender In The Years Ahead.

During The Financial Year, The Bank Reported Outstanding Improvements In Its Gross Earnings, Which Rose From By 6,066% In The Financial Year To N3.456 Billion; 471% Growth In Profit Before Tax (PBT) ; Deposit Growth Rate Of 1,524%, Return On Equity Rose By 361% And An Exponential Growth In Customer Base From 1,809 To 103,853, Among Other Positive Performance Indices.

Speaking During A Post-AGM Interactive Session With Journalists At The Bank’s 2nd Annual General Meeting (AGM) Held In Abuja, One Of The Leading Shareholders Of The Bank, Alhaji Lawal Garba, Said The Shareholders Were “Very Happy With The Board And Management Of The Bank For The Impressive Performance Recorded During The Year, Particularly On The Innovation That They Have Brought Into Non-Interest Banking In Nigeria.

“We Are Also Very Impressed With Their Entrepreneurship Drive Which Has Impacted On The Way The Bank Is Growing And We Are All Very Impressed And Wish The Bank More Successful Years Ahead.

“Also, We Are Want To Encourage The Management To Continue With The Mandate They Have Been Given By Redoubling Their Efforts Towards The Full Realisation, Though The Efforts They Have Put In So Far Have Been Commendable. Overall, We Are Very Impressed With Their Superlative Performance”, Garba Added.

Earlier In His Address At The AGM, The Bank’s Chairman, Alhaji Tanko Isiaku Gwamna, Noted That The 2020 Financial Year Was A Remarkable Year For The Bank In Terms Of Investment, Market Penetration, Growth, Expansion And Strong Financial And Strategic Performance That Enabled The Bank To Position Itself As One Of Nigerian Growing Banks.

He Linked The Lender’s Superlative Performances To Exceptional Service Delivery, Robust Investments And Deployment Of Critical Technologies And Solutions And Responsive Operational System.

Alhaji Gwamna Restated The Bank’s Commitment To Value-Addition For All Its Shareholders And The Nigerian Financial System, Stressing That Tajbank’s Sustainability Is Guaranteed By The Expansive Value It Is Creating For Its Shareholders, Customers, Employees And All Stakeholders.

He Assured: “Our Commitment To The Creation Of Optimal Shareholders’ Value Remains Solid And Expansive.”

Noting The Increasing Roles Of The Social Media As An Indispensable Tool For Customer Relationship Management, Value Addition And Complaint Resolution, The Seasoned Non-Interest Banker Pointed Out That Tajbank Had Leveraged On Investments In Key Technologies To Improve Its Visibility On Facebook, Instagram, Linkedin, Google+ And Whatsapp.

Alhaji Gwamna Pointed Out That Although Tajbank’s Priority Was To Ensure Optimum Performance And Value Addition Across All Stakeholders, The Bank’s Medium And Long Term Target “Is To Be Among The Recipients Of Key Awards On Product And Service Innovation, Consistently Transparent Corporate Governance Practices And Service Excellence” Through The Utilization Of Its Creative Workforce And Excellent Management Team.

He Also Harped On The Bank’s Relentless Efforts To Upscale Its Corporate Social Responsibility (CSR) Activities In Line With Its Vision Of Funding Programmes And Projects That Promote Financial Inclusion, Economic Prosperity, Equal Access To Opportunities, Sustainable Development And Promote Global Prosperity In Its Host Communities And The Larger Nigerian Society.

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Business

TAJBank Emerges Nigeria’s Biggest Non-Interest Bank

Published

1 week ago

October 23, 2025

The Gleamer

Cyril Ogar

After five years of operations in Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has become the biggest player in the NIB subsector based on its total assets and gross earnings values.

Disclosing this during his paper presentation on the key performance indices in the non-interest banking space over the past few years at a seminar organized by Leaders Corporate Services with the theme “Roles of Non-Interest Banks In SMEs’ Financing” for SME entrepreneurs yesterday in Abuja, an investment expert, Mr. Olabode Akeredolu-Ale, maintained that based on the non-interest banks’ approved financial statements for the half year 2025, TAJBank currently remained the biggest in terms of its total assets.

The expert, a chartered stockbroker, specifically confirmed that his recent investment researches on the NIBs and their financial performances showed that TAJBank, with its total assets rising to N1.017 trillion in half year 2025 up from N953.098 billion as of December 2024, which is about N53 billion higher than the nearest NIB’s assets, now ranked top in the banking subsector.

According to him, TAJBank’s gross earnings for H1 2025 also surged to N53.752 billion from N32.86 billion as of December 2024, representing a 64% growth, and higher than the nearest NIB’s gross earnings in the period under review.

This is even as he disclosed that on the NIBs’ earnings per share during the half year, TAJBank reported N61.36 kobo earnings per share, about 92% higher than the earnings per share of the next NIB during the period.

Akeredolu-Ale, who is also a chartered accountant, clarified: “The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.

“I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.

“Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other inclement macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.

“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners. I have advised those of them at this seminar to explore the cost-friendly financing options of the NIBs to grow their businesses by opening accounts with the NIBs”, the expert added.

Another speaker at the event, Benjamin Chukwudi, also commended the NIBs for their “catalytic roles in helping SMEs to access interest-free loans and providing them the needed financial management advisory, which have been helping them in sustaining their operations in the face of rising cost of doing business in the country.”

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