TAJBank pays 3rd dividend in 5 years, as total assets grow by 84%
By Kadiri Abdulrahman
TAJBank Limited, a fast growing non-interest bank, has sustained its feat in the nation’s banking history with the payment of 20 kobo per share dividend to its shareholders at the end of the 2024 financial year.
TAJBank’s Founder/CEO, Hamid Joda, said this in a statement on Monday in Abuja.
Joda explained that the payment was the third investment reward for the investors in its five years of operations.
According to him, available industry data on dividends paid to shareholders by most banks during the year under review showed that TAJBank’s dividend represented one of the best.
He said that the verdict was based on earnings per share, and in terms of dividend ratio to share value of banks nationwide.
”The major highlights of the TAJBank’s financial results showed that the bank’s total assets grew from N518.33billion in 2023 to N953.10 billion in 2024, representing 84 per cent growth year-on-year.
”Its Gross earnings also increased to N75.5 billion in the year under review from N43.2 billion in 2023, indicating 80 per cent growth,” he said.
Joda said that the bank also recorded impressive performance in its deposit base, which surged by 89 per cent, from N369.33 billion in 2023 to N696.34 billion in 2024.
“Profit Before Tax (PBT) grew by 61 per cent to N18.2 billion from N11.3 billion in the preceding year, among other impressive financial indices.
“With the payment of the third dividend to the shareholders within five years of operations, TAJBank’s Board and management have again demonstrated that investors’ interest remains a priority.
“The sterling performances of TAJBank clearly attest to the management’s proactive strategies and innovativeness in service delivery.
“I want to assure our investors that their interests will always be prioritised in our operations at all times,” he said.
The bank’s Co-Founder/Executive Director, Mr Sherif Idi, said that the payment of the third dividend was historic and aligned with the primary goal of TAJBank being in business.
According to Idi, this is to continually serve the interests of our shareholders, customers, and the public.
“We want to thank all our shareholders for contributing to the growth of the bank.
“We urge them to encourage their friends to invest in TAJBank as doing so will guarantee them sustained benefits”, he said.(NAN) (www.nannews.ng)
Edited by Isaac Aregbesola
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