Four banks delay filing of half-year results at NSE over CBN approval

Four deposit money banks say they were unable to file their audited half-year financial statements at the Nigerian Stock Exchange (NSE) before the deadline due to outstanding regulatory approvals.

The banks, Zenith, Guaranty Trust Bank (GTB), UBA and Stanbic IBTC, issued a notice to NSE on Monday.

Zenith Bank, in a statement signed by Michael Osilama Otu, its company secretary, said: “The delay is to enable the bank conclude all outstanding regulatory requirements in the course of approval of the financial statements.

“Zenith Bank is however optimistic that the reports will be submitted to the exchange on or before September 30, 2020.”

Erih Obebeduo, Guaranty Trust Bank’s company secretary, said the Central Bank of Nigeria, its primary regulator, is still in the process of reviewing the audited financial statements.

“In view of the foregoing, the bank requested an extension of time from the exchange to publish its audited financial statements, subsequent to which a 30-day extension was granted.

“However, kindly be assured (to stakeholders and investing public) that if the approval from the primary regulator is received earlier, the bank’s audited financial statements would be released to the market earlier than the period approved by the exchange.”

The United Bank for Africa (UBA), in a statement signed by Bili Odum, its group company secretary, said it is “optimistic that the audited financial statements will be submitted to the exchange on or before September 29, 2020”.

Stanbic IBTC also said it would ensure that its 2020 half-year results are published on or before September 25, 2020.