Jaiz Bank Plc has announced plans to raise its capital base to N150 billion, positioning itself as one of the first banks to comply with the Central Bank of Nigeria’s (CBN) recapitalisation directive.
At the unveiling of the bank’s new corporate identity in Abuja, Managing Director and Chief Executive Officer Haruna Musa disclosed that Jaiz Bank had already surpassed the regulatory minimum but intends to exceed the threshold. He outlined an ambitious growth plan: raising the capital base to at least N100 billion within the next year and N200 billion within three years.
“This rebrand is not just a cosmetic change,” Musa said. “It is a bold statement of intent about who we are, what we stand for, and the future we are building.”
The new corporate identity features a redesigned logo with deep blue, yellow, and grey tones, symbolising trust, optimism, and balance. The bank’s new payoff line is “With You for Life.”
As part of its renewed strategy, Jaiz Bank is set to relaunch its international card services in partnership with MasterCard, effective September 1. This move comes after years of restrictions on international card use due to dollar scarcity. Musa credited the relaunch to recent reforms in the foreign exchange market, noting increased stability and improved liquidity.
The bank also plans to introduce a new digital platform, including a fully equipped mobile app and WhatsApp banking, allowing customers to conduct transactions seamlessly.
Looking ahead, Musa revealed the bank’s mission to become one of Africa’s leading Islamic banks, with regional expansion already under consideration following invitations from regulators in Ghana and Sierra Leone. However, he stressed that the immediate focus is on consolidating growth in Nigeria.
Jaiz Bank has also reaffirmed its commitment to financing small businesses, a move likely to resonate with MSMEs seeking alternative financing avenues.
Financially, the bank posted total assets of N964.09 billion as of June 30, 2025, compared to N1.08 trillion in 2024. Liabilities stood at N892.62 billion, with equity stable at N71.47 billion. Gross earnings for Q2 2025 rose to N45.19 billion from N36.16 billion in 2024, while profit before tax climbed to N14.76 billion from N11.56 billion. Profit after tax reached N14.45 billion, up from N11.28 billion the previous year.
With a stronger capital base, renewed digital push, and focus on small businesses, Jaiz Bank is signalling its intent not only to remain competitive under CBN’s recapitalisation era but also to deepen its role as a financial partner for Nigeria’s growing business community.
