Four Nigerian banks delay half-year reports

Four Nigerian banks on Monday gave the Nigerian Stock Exchange reasons for the delay in the submission of their half-year audited accounts as and when due.

The banks are Zenith Bank Plc, United Bank for Africa Plc, Stanbic IBTC and Guaranty Trust Bank Plc.

GTBank, in a statement signed by its company secretary, said following the consideration of its audited half-year financial statement for the period ended June 30 by the board on July 22, 2020, steps were taken to finalise the AFS with its external auditors.

“The bank’s primary regulator is still in the process of reviewing the AFS and same would be released to the market upon receipt of the said approval.

“In view of the foregoing, the Bank requested an extension of time from The Nigerian Stock Exchange to publish its AFS, subsequent to which a 30-day extension was granted.

Zenith Bank, in a statement signed by its Company Secretary, Michael Osilama, said its financial report would be submitted to the Exchange on or before September 30, 2020.

“The delay is to enable the bank to conclude all outstanding regulatory requirements in the course of approval of the financial statements,” it said.

UBA said its audited financial statements were still undergoing necessary regulatory approvals.

According to a statement signed by its Company Secretary, Bili Odum, the financial statements will be submitted to the NSE on or before September 29, 2020.

Stanbic IBTC said it was “currently seeking the approval of our primary regulator, the Central Bank of Nigeria, for the half-year audited financial statements, following which the said financial statements will then be released to the market.”

“We are working diligently to ensure that our company’s 2020 half-year results are published on or before Friday, September 25, 2020,” it added.

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