TAJBank’s ₦31.56bn Profit Signals New Strength in Nigeria’s Non-Interest Banking

By The Ameh News
The Managing Director/Chief Executive Officer, TAJBank Limited, Hamid Joda

TAJBank Limited has strengthened its position as Nigeria’s leading non-interest bank after posting a 74 per cent year-on-year increase in Profit Before Tax (PBT) to ₦31.56 billion in FY2025, compared with ₦18.17 billion recorded in the previous financial year.
The performance, contained in the bank’s approved FY2025 financial statements, underscores the rapid expansion of the non-interest banking franchise and TAJBank’s growing weight within Nigeria’s financial services industry.
The bank’s total assets rose by 41 per cent, from ₦953 billion in FY2024 to ₦1.34 trillion at the end of 2025. Gross earnings also climbed by 71 per cent to ₦132.56 billion, from ₦77.55 billion, while gross earning assets surged by 81 per cent to ₦847.71 billion, compared with ₦467.38 billion a year earlier.
Even more striking was the movement in shareholders’ funds. Total equity expanded by 144 per cent to ₦149.23 billion, from ₦61.25 billion in FY2024.
The bank also reported a 30 per cent capital adequacy ratio, providing an important cushion as its balance sheet continues to expand.
From challenger to subsector leader
TAJBank’s latest numbers mark another milestone for an institution that commenced operations only a few years ago.
Regulatory-approved industry figures have placed the bank at the top of Nigeria’s non-interest banking subsector by total assets and gross earnings. Its leadership position had already become evident during 2025, when its assets crossed the ₦1 trillion mark.
The FY2025 results suggest that the bank has not merely retained that position but has widened its operating scale.
The growth in earning assets is particularly significant. An 81 per cent expansion in gross earning assets to ₦847.71 billion indicates that a substantial portion of the balance-sheet expansion was directed towards income-generating activities rather than simply accumulating assets.
That combination of asset growth, earnings expansion and stronger equity provides a more compelling picture of the bank’s performance than the headline PBT figure alone.
Shareholders get 20-kobo dividend
Against the backdrop of the strong financial performance, the Board approved a 20-kobo-per-share dividend for shareholders at the bank’s 2026 Annual General Meeting.
Board Chairman, Alhaji Tanko Gwamna, said the decision reflected the institution’s appreciation of shareholders’ contribution to the bank’s growth.
“The Board rewarded shareholders for their contributions to the growth of TAJBank, as we have done over the years.”
The dividend also sends a signal that management is seeking to balance expansion with shareholder returns rather than pursuing growth at the expense of investors.
Managing Director/Chief Executive Officer, Hamid Joda, attributed the performance to prudent financial management and said the results had strengthened investor confidence.
“I want to thank our shareholders and assure them that their funds are secure and will continue to yield sustainable returns annually.”
Executive Director, Sherif Idi, said the bank would continue to place customers and shareholders at the centre of its operations.
“We value our shareholders and customers because their interest is why we are in business. We will always prioritise them in our operations.”
TAJBank’s official corporate records identify Gwamna as Chairman, Joda as Founder/MD/CEO and Sherif Idi as Co-Founder/Executive Director.
Expert reaction: growth goes beyond the balance sheet
The figures have attracted favourable assessment from banking-sector observers.
Reacting, a chartered banker, former Director-General of the Chartered Institute of Bankers of Nigeria and President of the Bank Customers Association of Nigeria, described the performance indicators as evidence of substantial progress.
He noted that the bank’s expansion demonstrated aggressive penetration of its target market, particularly in rural communities, while also supporting financial inclusion.
Continue, he said the performance was evidence of the profitability and viability of Nigeria’s non-interest banking segment.
Another market perspective came from investment expert and chartered stockbroker, who had earlier identified TAJBank as the largest non-interest bank by assets based on its 2025 half-year performance.
At the time, TAJBank’s assets had risen to about ₦1.02 trillion, already putting it more than ₦50 billion ahead of the nearest competitor in the subsector.
The full-year numbers now show that the bank continued to build on that lead.
The real test: whether growth remains sustainable
For analysts, however, the significance of TAJBank’s results goes beyond celebrating a 74 per cent increase in PBT.
The more important question is whether the bank can maintain asset quality, capital strength, liquidity, risk discipline and sustainable returns as its balance sheet becomes substantially larger.
A bank moving from ₦953 billion to ₦1.34 trillion in assets in one year must demonstrate that its risk-management infrastructure is growing at least as quickly as its balance sheet.
The reported 30 per cent capital adequacy ratio is therefore an important indicator. It suggests that TAJBank entered the next phase of its expansion with a sizeable regulatory capital buffer.
The 144 per cent increase in equity is equally significant because stronger shareholders’ funds can provide additional capacity to support future growth while absorbing unexpected losses.
For TAJBank, the challenge now is to ensure that rapid expansion does not weaken the quality of its assets or place pressure on future profitability.
Non-interest banking gains momentum
TAJBank’s performance also arrives at a time when Nigeria’s non-interest banking market is attracting increasing attention from customers, investors and policymakers.
The model provides banking and financing structures based on principles that differ from conventional interest-based banking, while creating opportunities for financing, investment and financial inclusion.
TAJBank has positioned itself around this model and has continued to invest in technology, alternative financing structures and market expansion.
The bank’s strategic ambition is to become a dominant non-interest banking institution in Nigeria, with a strong emphasis on technology, branch expansion and financial inclusion.
Its capital-market activities have also expanded. In 2025, TAJBank completed arrangements for a ₦20 billion second tranche of its ₦100 billion Mudarabah Sukuk programme, following its earlier Sukuk issuance.
That development provides another avenue through which the institution can deepen its funding and investment ecosystem.
Technology, governance and compliance
The bank’s growth has also been accompanied by an emphasis on technology, information security and business continuity.
TAJBank holds Payment Card Industry Data Security Standard (PCI DSS) certification as well as ISO certifications covering information security, business continuity and IT service management.
For a rapidly expanding financial institution, such certifications are increasingly important because the scale of digital transactions and customer data creates corresponding cybersecurity and operational risks.
The challenge is to ensure that these standards remain embedded in daily operations as the institution grows, rather than becoming merely compliance credentials.
A stronger platform for the next phase
TAJBank’s FY2025 performance therefore represents more than another profitable year.
It marks the emergence of a Nigerian non-interest bank with a ₦1.34 trillion balance sheet, ₦149.23 billion in shareholders’ equity, ₦132.56 billion in gross earnings and ₦31.56 billion in pre-tax profit.
The figures demonstrate scale, but they also raise the bar.
Having established itself as the largest player in the subsector, TAJBank’s next challenge will be to prove that it can preserve asset quality, maintain strong capital buffers, manage risks effectively and continue delivering returns as competition intensifies.
For shareholders, the 20-kobo dividend provides an immediate reward.
For customers, the expanding balance sheet potentially means greater capacity to provide financing and financial services.
For the wider Nigerian banking industry, TAJBank’s performance provides perhaps the clearest indication yet that non-interest banking is evolving from a niche alternative into a significant component of the country’s financial-services landscape.
The question for the years ahead is no longer whether TAJBank can grow.
It is whether the institution can convert rapid growth into durable, well-capitalised and sustainable market leadership.
The Ameh News analysis: TAJBank’s FY2025 numbers show impressive momentum, but the quality and sustainability of that growth will ultimately matter more than the headline profit figure.