June 26 (THEWILL) — Shareholders of Jaiz Bank Plc have approved plans to raise N150 billion in fresh capital to strengthen the bank’s capital base, support business expansion, and position it for future growth.
The approval was granted during the bank’s 14th Annual General Meeting (AGM), held virtually on June 24, 2026, according to a statement signed by the Company Secretary, Mohammed Shehu.
Under the resolution passed at the meeting, the bank is authorised to raise the funds through a combination of ordinary shares, preference shares, convertible and non-convertible securities, Sukuk, notes, and other financing instruments.
The capital may be sourced through a public offer, rights issue, private placement, book-building process, debt-to-equity conversion, or any other approved fundraising method in both local and international capital markets, subject to regulatory approvals.
The Board of Directors will determine the timing, pricing, structure, and terms of the capital raise in line with the provisions of the Companies and Allied Matters Act (CAMA) 2020, the Banks and Other Financial Institutions Act (BOFIA) 2020, the Investments and Securities Act, and regulations issued by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and Nigerian Exchange Limited (NGX).
Shareholders also authorised the board to increase the bank’s issued share capital where necessary and waived their pre-emptive rights for any tranche executed through private placements or strategic investments, providing greater flexibility to attract investors.
The approval comes amid sustained earnings growth. Jaiz Bank reported a pre-tax profit of N8.08 billion in the first quarter of 2026, up 14.8 percent from N7.04 billion a year earlier, following a 2025 financial year in which pre-tax profit rose 27.8 percent to N31.2 billion.
Total assets stood at N1.3 trillion as of March 2026, underscoring the bank’s expanding balance sheet and strengthening financial position as it pursues its next phase of growth.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
