JAIZ BANK : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

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