Jaiz Bank shareholders approve N150bn capital raise to fund growth after strong Q1 profit
Jaiz Bank Plc shareholders have authorized the bank to raise up to N150 billion in fresh capital through a mix of ordinary shares, preference shares, convertible and non-convertible securities, Sukuk, notes, and other financing instruments. The approval came at the bank’s 14th Annual General Meeting held virtually on June 24, 2026, with the timing, pricing, and structure to be set by the Board of Directors, subject to regulatory clearance from the CBN, SEC, and NGX.
Shareholders also empowered the Board to increase the bank’s issued share capital as needed and to waive pre-emptive rights for private placements or strategic investments, giving Jaiz greater flexibility to attract investors. The move follows strong financial performance: Jaiz reported a pre‑tax profit of N8.08 billion for Q1 2026, up 14.8% from N7.04 billion in Q1 2025, building on a 2025 full‑year profit of N31.2 billion (up 27.8% year‑on‑year). Total assets stood at N1.3 trillion as of March 2026, with retained earnings of N28.8 billion.
The capital raise aims to support business expansion, strengthen the balance sheet, and meet evolving regulatory capital requirements in Nigeria’s banking sector. With the bank positioning for growth, will you consider participating in the upcoming offer, or watch how this expansion shapes Islamic banking investment options in Nigeria?