Business

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

Published

4 months ago

June 30, 2025

..As Total Assets Grow By 84%

Tobi Philips

TAJBank Limited, Nigeria’s fastest growing non-interest bank, sustained its record-breaking feat in the nation’s banking history with the payment of 20 kobo per share dividend to its shareholders at the end of financial year (FY) 2024, being the third investment reward for the investors in its five years of operations.

Available industry data on dividends paid to shareholders by most banks during the year under review showed that TAJBank’s dividend, based on earnings per share, represented one of the best in terms of dividend ratio to share value of banks nationwide.

The major highlights of the TAJBank’s financial results in FY 2024 showed that the bank’s Total Assets grew from N518.33bn in 2023 to N953.10bn in 2024, representing 84% growth year-on-year; while its Gross earnings also increased to N75.5bn in the year under review from N43.2bn in 2023, indicating 80% growth.

Similarly, the multiple award-winning non-interest bank also recorded impressive performance in its deposit base, which surged by 89%, from N369.33bn in FY2023 to N696.34bn in FY 2024.

In the year under review, the bank’s gross earnings rose to N467.38bn from N271.92bn recorded in 2023 financial year, representing 72% year-on-year on growth just as the profit before tax (PBT) grew by 61% to N18.2bn from N11.3bn in the preceding year, among other impressive financial indices.

Commenting on the bank’s FY2024 financial results, particularly on dividend payment to the shareholders despite the inclement operating environment, TAJBank’s Founder/CEO, Mr. Hamid Joda, said: “With the payment of the third dividend to the shareholders within five years of operations,

TAJBank’s Board and management have again demonstrated that investors’ interest remains a priority in their drive to sustain the bank at the forefront of non-interest banking space in Nigeria.

“The sterling performances of TAJBank these past years clearly attest to the management’s proactive strategies and innovativeness in service delivery and I want to assure our investors that their interests will always be prioritized in our operations at all times”, Joda added.

In his remarks, the bank’s Co Founder/Executive Director, Mr. Sherif Idi, said: “The payment of the third dividend to our shareholders at the end of FY2024 is historic and aligns with the primary goal of TAJBank being in business, which is to continually serve the interests of our shareholders, customers, and the public.

“We want to thank all our shareholders for contributing to the growth of the bank and also urge them to encourage their friends to invest in TAJBank as doing so will guarantee them sustained benefits”, the banker assured.

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Business

TAJBank Emerges Nigeria’s Biggest Non-Interest Bank

Published

2 weeks 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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