United Bank for Africa and Stanbic IBTC have revealed why they are yet to release their audited financial statements for the first half of 2020.
The first half and second-quarter financial results cover January/April; to June 2020. According to the Nigerian Stock Exchange listing rules, financials for each quarter should be out 30 days after the end of the quarter.
UBA stated that its financials were still undergoing regulatory approvals.
“United Bank for Africa Plc hereby notifies the Nigerian Stock Exchange (the 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 AFS are still undergoing necessary regulatory approval.
“However, the bank is optimistic that the AFS will be submitted to the Exchange on or before September 29, 2020,” UBA explained in the statement signed by the Company Secretary, Bili Odum.
Meanwhile, Stanbic IBTC stated, “This is to inform The Nigerian Stock Exchange as well as our esteemed stakeholders that we are experiencing a slight delay in the release of the 2020 half-year AFS 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, for the half year AFS, 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.”
