Abuja: TAJBank Limited has emerged as the leading institution in Nigeria’s Non-Interest Banking (NIB) sector, boasting the highest total assets and gross earnings, according to an investment expert. Mr. Olabode Akeredolu-Ale shared this information while presenting a paper on ‘Roles of Non-Interest Banks In SMEs’ Financing’ during an event for SME entrepreneurs in Abuja.

According to News Agency of Nigeria, Akeredolu-Ale stated that TAJBank’s total assets had reached N1.017 trillion by the first half of 2025, as reported by the banking and capital market regulatory institutions. This figure marks a significant rise from N953.098 billion in December 2024, enabling TAJBank to surpass its closest non-interest banking competitor by N53 billion in assets.

Akeredolu-Ale further highlighted that TAJBank’s gross earnings for the first half of 2025 surged to N53.75 billion, up from N32.86 billion in December 2024. This substantial 64 percent growth positions TAJBank ahead of the nearest non-interest bank in terms of gross earnings for the reviewed period.

The investment expert noted that the bank’s earnings per share during this period were N61.36 kobo. His insights were drawn from recent investment research focused on the financial performance of non-interest banks, with data sourced from banking and capital market regulatory platforms.

Akeredolu-Ale emphasized the role of non-interest banks in supporting small and medium-sized enterprises (SMEs) in Nigeria, particularly given the challenges these businesses face in accessing loans from deposit money banks (DMBs) due to high lending rates and macroeconomic factors. He encouraged entrepreneurs to leverage the cost-effective financing options provided by non-interest banks to grow their businesses.

Additionally, Benjamin Chukwudi, another speaker at the event, praised non-interest banks for their support in providing interest-free loans and financial management advisory to SMEs, aiding them in sustaining operations amid rising business costs.

The seminar, organized by Leaders Corporate Services Limited, aimed to address the growing demand for quality company secretarial services in Nigeria.