By Kadiri Abdulrahman
ABUJA – Shareholders of TAJBank Limited, Nigeria’s leading non-interest banking products and services provider, have commended the board and management of the bank for its impressive performance in its first year of operations.
In a statement by the bank’s Chief Operating Officer, Mr Hamid Joda, in Abuja, the shareholders promised continued commitment to 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 per cent in the financial year to N3.456 billion, and 471 per cent growth in Profit Before Tax (PBT).
The bank also recorded deposit growth rate of 1,524 per cent, Return on Equity, by 361 per cent and an exponential growth in customer base from 1,809 to 103,853, among other positive performance indices.
One of the leading shareholders of the bank, Alhaji Lawal Garba, said that the shareholders were happy with the board and management of the bank for the impressive performance recorded during the year.
“We are particularly impressed by the innovation that they have brought into non-interest banking in Nigeria.
“We are also 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.
“We will 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” he said.
The bank’s chairman, Alhaji Tanko Gwamna, noted that the 2020 financial year was remarkable for the bank in terms of investment, market penetration, growth, expansion and strong financial and strategic performance.
He said that such performance had enabled the bank to position itself as one of Nigerian growing banks.
He linked the bank’s commendable performance to exceptional service delivery, robust investments and deployment of critical technologies and solutions and responsive operational system.
Gwamna restated TajBank’s commitment to value-addition for all its shareholders and the Nigerian financial system.
He stressed that its sustainability was guaranteed by the expansive value it is creating for shareholders, customers, employees and all stakeholders.
He assured: “Our commitment to the creation of optimal shareholders’ value remains solid and expansive.”
He noted the increasing roles of the social media as an indispensable tool for customer relationship management, value addition and complaint resolution.
Gwamna added that TAJBank had leveraged on investments in key technologies to improve its visibility.
He pointed out that TAJBank’s priority was to ensure optimum performance and value addition across all stakeholders.
According to him, the bank’s medium and long term target is to be among the recipients of key awards on product and service innovation.
He harped on the bank’s relentless efforts to upscale its Corporate Social Responsibility (CSR) activities.
“This is in line with our vision of funding programmes and projects that promote financial inclusion, economic prosperity, equal access to opportunities, sustainable development and prosperity to host communities and the larger Nigerian society,’’ he said. (NAN)