TAJBank Limited has emerged as Nigeria’s largest non-interest bank, leading the sector in both total assets and gross earnings, according to an investment expert.
Mr. Olabode Akeredolu-Ale, an investment analyst, disclosed this while presenting a paper titled “Roles of Non-Interest Banks in SMEs’ Financing” at a seminar for SME entrepreneurs in Abuja.
Akeredolu-Ale said TAJBank’s total assets rose to N1.017 trillion in the first half of 2025, up from N953.1 billion as of December 2024 — a growth that placed the bank N53 billion ahead of its closest competitor in the non-interest banking segment.
He noted that the bank’s gross earnings for the half year also surged to N53.75 billion, representing a 64 per cent increase from N32.86 billion recorded at the end of 2024.
“The figures I’m presenting are sourced from verified data on the banking and capital market regulatory institutions’ platforms, which anyone can access,” Akeredolu-Ale said.
According to him, the bank also posted 61.36 kobo earnings per share during the period, reflecting its growing profitability and leadership in the non-interest banking space.
Akeredolu-Ale, a chartered broker, said his research focused on how non-interest banks could leverage innovation and ethical finance to support Micro, Small, and Medium Enterprises (MSMEs).
“Today, many MSMEs cannot access loans from deposit money banks due to high interest rates and harsh economic conditions. This is where non-interest banks have become crucial to Nigeria’s economic recovery,” he said.
He urged entrepreneurs to take advantage of the cost-friendly financing options offered by non-interest banks to expand their operations and sustain growth.
Also speaking at the event, Mr. Benjamin Chukwudi commended non-interest banks for their support to SMEs through interest-free loans and financial advisory services, which he said had helped many businesses survive the country’s challenging business climate.
The seminar was organised by Leaders Corporate Services Limited, a firm established to meet the increasing demand for quality company secretarial and corporate governance services in Nigeria.
