TAJBank Sets New Record, Pays Shareholders Dividend

Kayode Tokede

TAJBank Limited has set a new record in the nation’s banking system with the payment of dividend to its shareholders just three years of its operations.

TAJBank made history early this year as the first corporate entity in Nigeria’s history to list Sukuk Bond on the Nigerian Exchange Limited (NGX) after its successful issuance.

Addressing the shareholders, the Board chairman, Tanko Gwamna, recounted the global economic whirlwinds in the past two years as well as the macroeconomic developments in the nation’s economic space, especially the surging inflation rate, with the attendant negative impacts on businesses.

Gwamna maintained that despite the inclement operating environment, the board and management of the bank were able, through innovation and proactive strategies, sustain the bank.

In his report, the bank’s Managing Director/CEO, Mr. Hamid Joda, described the FY 2022 as a significant milestone in the journey of the non-interest lender despite the headwinds that characterized the operating environment as the management was able to deliver on key strategic goals through relentless execution, backed by a positive culture and delivery on high-impact projects.

On the bank’s financial performance in FY 2022, Joda reported that TAJBank recorded remarkable growth across key indices during the year as its balance sheet grew by over 93per cent from N110 billion recorded in FY 2021 to N212 billion while its Profit Before Tax (PBT) also surged from N1.6 billion in FY 2021 to N5.081 billion in 2022 financial year.