Nigeria 2018 | FINANCE | COLUMN

TBY talks to Hassan Usman, Managing Director, Jaiz Bank, on the sector.

Hassan Usman

How have the bank's operations evolved since 2014?

We continue to be profitable, though 2016 was difficult. We have it placed behind us and believe the future will be much better. Our first quarter performance already proves we are doing so. This year will define how we move forward; we are in the process of creating a five-year plan that will further define our identity in the Nigerian banking space. We have ambitious ideas about what we would like to be, and the board and shareholders are committed to ensuring we become a formidable player in the market.
You are the only fully fledged non-interest bank in Nigeria. Is that a competitive advantage?
Yes, we do have the first-mover advantage. The market is not yet developed, and we are proceeding based on the demand from customers. We have to be careful not to expand too rapidly. The utilization of capital also has to be properly coordinated, or a bank can end up creating products that have not yet matured. We are not just setting up branches; we are also taking advantage of technology in the sense that we do not have to be present everywhere. Once consumers are registered, they can service themselves using our digital banking services.