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TAJBank Sets Industry Record, Pays 2nd Dividend In Four Years
TAJBank Limited, Nigeria’s fastest growing non-interest bank, has set a new record in Nigeria’s banking sector history with the payment of dividends to its shareholders at the end of its half year ended June 2024, the second in its 4th year of operations.
The multiple award-winning non-interest lender in the half year under review paid 10% cash as interim dividend to its shareholders, following the approval of the financial statements by the Central Bank of Nigeria.
Another major highlight of the bank’s financial report showed that the bank blazed a major trail in financial management with the shareholders’ fund surging from N5 billion in 2019 to over N53 billion in June this year, representing 960% growth in the investors’ fund.
In the half year under review, the bank’s gross earnings rose to N32,846 billion from N17,022 billion recorded in 2023 financial year, representing a 93% increase over the preceding year’s earnings, amongst other impressive financial indices.
Speaking with journalists during a virtual chat at the weekend on the bank’s half year 2024 financial results, particularly on the payment of dividends to the shareholders despite the inclement operating environment, TAJBank’s Founder/CEO, Mr. Hamid Joda, said: “The payment of this second tranche of dividends to our shareholders barely four years of TAJBank’s operations is historic as this is the first time such a feat is recorded in the over 100 years of banking services in Nigeria.”
Similarly, the bank’s Co-Founder/Executive Director, Mr. Sherif Idi, enthused: “TAJBank’s impressive financial performance in the current half year 2024 further demonstrated its resilience and the management’s uncommon zeal for excellence in all areas of its operations.
“Let me emphasize here that we are very grateful to all the shareholders and urge them to always support the board and management in their sustained efforts to transform TAJBank to the foremost non-interest bank in Africa, having attained the number one ranking in Nigeria by all assessment standards in this few years of its operations,” the banker added.
