Table of Contents
Key Points
- Mohammed Indimi’s Jaiz Bank stake rebounded by $8.3 million in 2025 after a $3.93 million loss in 2024.
- Jaiz Bank’s 2024 profit doubled to $15.33 million, driving a 33% share price increase and boosting Indimi’s stake value.
- With $706 million in assets and $591 million in deposits, Jaiz Bank leads Nigeria’s Islamic banking sector and outperforms peers.
After a tough year in 2024, when the naira’s sharp devaluation wiped out what could have been a $8.2 million gain and instead left him with a $3.93 million loss on his Jaiz Bank shares, Nigerian oil magnate Mohammed Indimi is back on stronger footing.
So far in 2025, his investment in the bank has rebounded by $8.3 million on the Nigerian Exchange (NGX), offering a welcome reversal of fortune.
Indimi’s Jaiz Bank stake rises by $8.3 million in 2025
Indimi, founder of Oriental Energy Resources and the largest shareholder in Jaiz Bank, owns 29.36 percent of the bank—equivalent to 13.09 billion shares.
With Jaiz Bank’s share price climbing 32.33 percent since January, the value of his stake has jumped from N39.28 billion ($25.66 million) to N51.98 billion ($33.96 million), marking a N12.7 billion ($8.3 million) boost.
Behind the bank’s rising value
Founded in 2003, Jaiz Bank Plc, has grown into Nigeria’s leading non-interest financial institution, pioneering Islamic banking in the country. Headquartered in Abuja, the bank has expanded its footprint across Nigeria, offering a range of digital and branch-based services.
Since commencing operations in 2012, Jaiz Bank has demonstrated steady growth, securing a national banking license in 2016 and solidifying its position in Nigeria’s financial sector.
Its 2024 financial performance explains a lot of the momentum behind this year’s market gains. Profit more than doubled to N23.48 billion ($15.33 million), compared to N11.24 billion ($7.34 million) in 2023.
The bank’s total assets surged 86.29 percent to N1.08 trillion ($705.05 million), driven by strong growth in customer deposits and investments in Sukuk, which rose 129.66 percent to N349.6 billion ($228.28 million). Customer deposits also saw a sharp 93.92 percent increase to N904.79 billion ($590.79 million).
A quiet success story on the exchange
At the time of drafting this report, Jaiz Bank ranks as the Nigerian Exchange’s 42nd most valuable listed company and holds the distinction of being the country’s first non-interest bank.
Its shares have increased by 33.23 percent year-to-date—outperforming many of its peers. In practical terms, an investment of $100,000 at the start of 2025 would now be worth around $133,435.83.
Beyond the numbers, the bank’s performance tells a broader story about its role in offering ethical, interest-free financial services to an expanding customer base.
As investors like Indimi benefit from its rise, Jaiz Bank continues to show that strong fundamentals and a clear mission can still deliver standout results—even in a volatile market.
