The release of half year (H1) results of Tier 1 banks like GTBank, Zenith Bank and UBA as well as that of Stanbic IBTC Holdings is being delayed as the banks await the approval of the Central Bank of Nigeria (CBN).
In line with its regulatory roles, the CBN currently examines the audited H1 financial results of the banks for the period ended June 30 following their Board of Directors’ approvals.
Zenith Bank said “the delay is to enable the bank conclude all outstanding regulatory requirements in the course of approval of the financial statement”, noting that it is optimistic the reports will be submitted to the Exchange on or before September 30.
GTBank said the primary regulator is still in the process of reviewing the audited financial system and same would be released to the market upon receipt of the said approval.
In view of this, GTBank said it requested and got 30-day extension from the Nigerian Stock Exchange, adding that “if the approval from the primary is received earlier, the bank audited financial statement would be released to the market earlier than the period approved by the Exchange.
Stanbic IBTC informed the Nigerian Stock Exchange as well as its esteemed stakeholders that “we are experiencing a slight delay in the release of the 2020 Half Year Audited Financial Statements for Stanbic IBTC Holdings Plc (Stanbic IBTC).
This delay is occasioned by the fact that we are currently seeking the approval of our primary Regulator, the Central Bank of Nigeria (CBN) 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 25 September 2020”.
Also, United Bank for Africa Plc notified the Nigerian Stock Exchange, its esteemed shareholders, stakeholders and the investing public of the delay in the filing of its Audited Financial Statements for the Half Year ended June 30, 2020 within the extended regulatory filing deadline “as the Audited Financial Statements are still undergoing necessary regulatory approvals.
However, the Bank is optimistic that the Audited Financial Statements will be submitted to the Exchange on or before September 29, 2020.”
