TAJBank Limited has ranked the biggest in the Non-Interest Banking (NIB) space, topping the sector in total assets and gross earnings value, an investment expert says.
Mr Olabode Akeredolu-Ale, an Investment expert, said this while presenting a paper on the ‘Roles of Non-Interest Banks In SMEs’ Financing’ for SME entrepreneurs in Abuja.
He said that TAJBank’s total assets had increased to N1.017 trillion in half-year 2025, sourced from the banking and capital market regulatory institutions’ platforms.
Akeredolu-Ale said the figure marked a substantial growth from N953.098 billion as at December 2024.
The expert said the growth had enabled the bank to surpass other non-interest banks, with assets N53 billion higher than its closest competitor.
According to him, TAJBank’s gross earnings for half year (H1) 2025 also surged to N53.75 billion from N32.86 billion as of December 2024
This, he said, represented a 64 per cent growth, and higher than the nearest NIB’s gross earnings in the period under review.
The chartered broker said that the bank’s earnings per share during the half year was N61.36 kobo earnings per share.
He said his findings were based on his recent investment researches on the NIBs and their financial performance sourced from the banking and capital market regulatory institutions’ platforms.
”The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.
”I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.
”Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.
“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners,” he said.
He advised entrepreneurs to explore the cost-friendly financing options of the NIBs to grow their businesses.
Benjamin Chukwudi, another speaker at the event, commended the NIBs for their roles in helping Small and Medium Enterprises (SMEs) to access interest-free loans and providing them with the needed financial management advisory.
This he said had helped SMEs to sustain their operations in the face of the rising cost of doing business in the country.
Truthng reports that the seminar was organised by Leaders Corporate Services Limited, set up to cater for the increasing demand for quality company secretarial services.
