Jaiz Bank Plc has projected gross earnings of N26.3bn for the first quarter of 2025, covering January to March 2025.
In its earnings forecast filed with the Nigerian Exchange Limited on Monday, the bank revealed that financing and investment income is expected to reach N24.2bn, with profit paid to investment account holders amounting to N6.4bn. This would result in a net revenue from funds of N17.8bn.
The bank is projecting credit impairment charges of N367.6m and exceptional items of N2.1bn, bringing net operating income to an estimated N19.5bn. Operating expenses are forecasted at N11.4bn, leaving a profit before tax of N8.1bn.
Jaiz Bank anticipates a taxation charge of N813.9m, resulting in a profit after tax of N7.3bn for the period. Additionally, the bank expects cash flow from operating activities to generate N87.6bn, with a net decrease in cash and cash equivalents of N14.6bn.
The bank is projecting a cash/bank balance of N469.6bn by the end of the quarter, demonstrating a solid liquidity position. Cash flow from investing and financing activities is expected to total N48.6bn and N121.6bn, respectively.
In May, The PUNCH reported that Jaiz Bank Plc grew its profit before tax by 67 per cent to N11.1bn in 2023.
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