TAJBank has widened its lead in Nigeria’s non-interest banking segment, posting strong growth across key financial indicators in 2025 as the lender consolidated its position as the country’s largest ethical bank by assets and profitability.
The bank’s audited financial statements for the year ended December 31, 2025, showed a significant expansion in assets, earnings and shareholders’ funds, underscoring the increasing acceptance of non-interest banking products among retail and corporate customers and the growing role of ethical finance in Nigeria’s banking landscape.
TAJBank’s total assets rose to N1.34 trillion in 2025 from N953 billion recorded in the previous year, representing a 41 percent increase. Gross earning assets climbed by 81 percent to N847.71 billion from N467.38 billion in 2024, while total equity more than doubled to N149.23 billion from N61.25 billion, reflecting a 144 percent growth.
The lender also reported gross earnings of N132.56 billion, up 71 percent from N77.55 billion in the preceding year. Profit before tax increased by 74 percent to N31.56 billion from N18.17 billion in 2024, while its capital adequacy ratio stood at 30 percent, well above regulatory requirements.
The performance further strengthens TAJBank’s position at a time when competition within the non-interest banking space is intensifying and financial institutions are seeking new growth opportunities beyond conventional banking models.
Industry stakeholders say the bank’s latest results demonstrate both the viability of non-interest banking and its growing contribution to financial inclusion, particularly among underserved populations.
Commenting on the bank’s performance, Uju Ogubunka, a chartered banker and former Director-General of the Chartered Institute of Bankers of Nigeria (CIBN), said the financial indicators point to sustained progress in the bank’s operations.
“The bank’s performance is an excellent evidence that the bank is aggressively penetrating it’s targets, especially at the rural areas, and thus contributing to the level of financial inclusion of the people nationwide. It is also a testament to the profitability and viability of the non-interest banking sector in Nigeria,” Ogubunka said.
The strong earnings growth comes as TAJBank continues to expand its customer base and deepen its footprint across the country through ethical banking products designed to support individuals, businesses and economic development.
Hamid Joda, managing director and chief executive officer of TAJBank, attributed the bank’s performance to strategic execution and stakeholder support.
“The improving performance of our bank is a clear demonstration of the board and management’s strong commitment to making TAJBank the best ethical bank in Nigeria by all assessment parameters,” Joda said.
“We owe our shareholders, customers, regulatory authorities and workers a lot of gratitude for supporting our efforts targeted at transforming TAJBank into a global brand in the ethical banking space in the years ahead,” he added.
Sherif Idi, executive director of the bank, said the financial results align with the institution’s long-term vision and commitment to stakeholders.
“The FY2025 performance of TAJBank is in furtherance of its corporation vision and mission and I want to assure all our stakeholders, particularly the shareholders and customers, that our bank shall continually promote their interest in line with our corporate shared value always,” Idi said.
Over the years, TAJBank has earned recognition locally and internationally for its innovation-driven and customer-focused approach to ethical banking, helping to position non-interest finance as a fast-growing segment of Nigeria’s financial services industry.