JAIZ BANK | Unaudited | ||
STATEMENT OF FINANCIAL POSITION | |||
FOR THE PERIOD ENDED 31ST DECEMBER 2020 | |||
December 2020 | December 2019 | ||
Notes | N'000 | N'000 | |
Assets | |||
Cash and Balances with Central Bank of Nigeria | 3 | 45,869,170 | 42,103,116 |
Due from Banks and Other Financial Institutions | 4 | 14,839,178 | 11,438,274 |
Sukuk Investment | 5 | 73,795,575 | 41,086,469 |
Murabaha Receivables | 6 | 42,603,170 | 32,168,321 |
Investment in Bai Mu'ajjal | 7 | 2,149,773 | 1,008,613 |
Investment in Istisna | 8 | 3,643,374 | 1,080,389 |
Investment in Ijara Assets | 9 | 24,660,465 | 21,283,416 |
Qard Hassan | 10 | 6,200 | 79,430 |
Investment in Salam | 10i | 11,405 | - |
Investment Properties | 10ii | 1,603,513 | 1,603,513 |
Investment in Assets Held for Sale | 11i | 17,046,496 | 9,464,869 |
Property, Plant and Equipment | 12 | 2,966,269 | 2,547,972 |
Leasehold Improvement | 13 | 47,526 | 65,297 |
Intangible Assets | 14 | 475,815 | 481,366 |
Other Assets | 15 | 2,785,509 | 2,400,175 |
Deferred Taxation Asset | 16b | 462,186 | 462,186 |
Total Assets | 232,965,622 | 167,273,406 | |
Liabilities | |||
Customer Current Deposits | (17a) | 74,580,714 | 69,603,883 |
Other Financing | 18a | 15,405,243 | 11,963,766 |
Other Liabilities | 18b | 26,940,089 | 12,443,964 |
Tax payable | 16a | 496,019 | 120,251 |
Total liabilities | 117,422,065 | 94,131,864 | |
Equity of Investment Account Holders | |||
Customers' Unrestricted Investment Accounts | (17b) | 56,909,247 | 35,099,480 |
Mudaraba Term Deposit | (17b) | 43,892,468 | 22,490,115 |
Total Equity of Investment Account Holders | 100,801,715 | 57,589,595 | |
Owners' Equity | |||
Share Capital | 19 | 14,732,125 | 14,732,125 |
Share Premium | 20 | 627,365 | 627,365 |
Retained Earnings | 21 | (4,965,043) | (4,081,114) |
Risk Regulatory reserve | 22 | 2,714,152 | 2,714,153 |
Statutory Reserve | 22i | 1,237,662 | 1,237,660 |
Other Reserves | 22ii | 395,582 | 321,757 |
Total Equity | 14,741,842 | 15,551,946 | |
Total Equity and Liabilities | 232,965,622 | 167,273,406 | |
Guarantee And Other Contingent Assets & Liabilities | 37 | 43,448,622 | 32,114,859 |
The accounting policies and the accompanying explanatory notes form part of these financial statements.
This financial statement were approved by the Board of Directors for issue on 29th January, 2021 and signed Dr. Umaru A. Mutallab, FCA, CON (Chairman)
FRC/2013/ICAN/00000004391
Hassan Usman, FCA (Managing Director/CEO)
FRC/2013/ICAN/00000003984
Abdufattah O. Amoo, FCA (Chief Finance Officer)
FRC/2018/ICAN/00000017779
JAIZ BANK | Unaudited | ||||
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE | |||||
INCOME FOR THE PERIOD ENDED 31ST DECEMBER 2020 | |||||
3 Month Ended | YTD(12 MONTHS) | 3 Month Ended | YTD(12 MONTHS) | ||
YTD | YTD | YTD | YTD | ||
Notes | N'000 | N'000 | N'000 | N'000 | |
Income from Financing Contracts | 23 | 2,649,042 | 10,757,796 | 2,323,858 | 7,461,682 |
Income from Investment Activities | 24 | 2,253,175 | 8,003,175 | 1,823,823 | 6,055,941 |
Gross Income from financing transactions | 4,902,217 | 18,760,971 | 4,147,680 | 13,517,623 | |
Return on Equity of Investment Account Holders | 25(i) | (879,633) | (3,753,489) | (920,295) | (2,907,985) |
Bank's share as a Mudarib/Equity investor | 25(ii) | 4,022,584 | 15,007,482 | 3,227,385 | 10,609,638 |
Net impairment (charges)/Writeback for the period | 32 | (1,546,072) | (3,207,584) | (475,726) | (1,145,876) |
Net Spread after Provision | 2,476,512 | 11,799,898 | 2,751,659 | 9,463,762 | |
Other Income | |||||
Fees and Commisssion | 26 | 396,483 | 500,930 | 181,195 | 1,008,943 |
Other Operating Income | 27 | 76,594 | 352,039 | 53,707 | 188,258 |
Total Income | 2,949,589 | 12,652,867 | 2,986,561 | 10,660,962 | |
Expenses: | |||||
Staff Costs | 29 | 1,427,557 | 4,902,366 | 1,252,041 | 3,863,554 |
Depreciation and Amortisation | 30 | 225,979 | 771,508 | 198,660 | 714,586 |
Operating Expenses | 31(i) | 635,861 | 4,192,691 | 900,607 | 3,972,805 |
Total Expenses | 2,289,396 | 9,866,564 | 2,351,308 | 8,550,946 | |
Profit Before Tax | 660,192 | 2,786,302 | 635,253 | 2,110,017 | |
Income Tax Expenses | 16a | - | (278,630) | - | 332,768 |
Profit for the period after Tax | 660,192 | 2,507,672 | 635,253 | 2,442,784 | |
Other Comprehensive Income | |||||
Item that may be reclassified to profit or loss | |||||
FC Revaluation | 28 | 60,592 | 73,825 | 1,962 | - |
Total comprehensive income for the period | 720,785 | 2,581,497 | 637,215 | 2,442,784 |
JAIZ BANK
STATEMENT OF CHANGE IN EQUITY
FOR THE PERIOD ENDED 31ST DECEMBER 2020
DECEMBER 2020 | ||||||||||
Other Reserves | Foreign | |||||||||
Other | Currency | |||||||||
Share | Retained | Risk Regulatory | CBN (AGSMEIS) | Comprehensive | Statutory | Translation | ||||
Share Capital | Premium | Earnings | Reserve | Reserve | Income | Reserve | Reserve | Total | ||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | ||
14,732,125.00 | 627,365.00 | - 4,081,114.14 | 2,714,152.80 | 209,444.21 | 112,312.67 | 1,237,661.85 | - | 15,551,947 | ||
Revaluation Reserve | - | - | - | - | - | - | - | 73,825 | 73,825 | |
Transfer to Risk Regulatory Reserve | - | - | - | - | - | - | - | - | 0 | |
Transfer to Statutory Reserve | - | - | - | - | - | - | - | - | 0 | |
Transfer to AGSMEIS | - | - | - | - | - | - | - | - | 0 | |
Dividend | - | - | (883,929) | - | - | - | - | - | (883,929) | |
As at 31 December 2020 | 14,732,125 | 627,365 | (4,965,043) | 2,714,153 | 209,444 | 112,313 | 1,237,662 | 73,825 | 14,741,843 | |
DECEMBER 2019 | ||||||||||
Other Reserves | ||||||||||
Foreign | ||||||||||
Other | Currency | |||||||||
Share | Retained | Risk Regulatory | CBN (AGSMEIS) | Comprehensive | Statutory | Translation | ||||
Share Capital | Premium | Earnings | Reserve | Reserve | Income | Reserve | Reserve | Total | ||
N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | N'000 | ||
Opening balance | 14,732,125 | 627,365 | (4,574,108) | 1,619,336 | 87,304.97 | 112,312.67 | 504,826 | 13,109,162 | ||
Transfer to risk regulatory reserve | - | - | - | 1,094,817 | 1,094,817 | - | - | - | - | |
Transfer to statutory reserve | - | - | - | 732,835 | - | - | - | 732,835 | - | |
Transfer to AGSMEIS | - | - | (122,139) | - | 122,139.25 | - | - | - | ||
Profit for the year | - | - | 2,442,785 | - | - | - | - | 2,442,785 | ||
As at 31 December 2019 | 14,732,125 | 627,365 | (4,081,114) | 2,714,153 | 209,444 | 112,313 | 1,237,662 | 15,551,947 |
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Jaiz Bank plc published this content on 30 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2022 21:00:02 UTC.