UBA, Stanbic IBTC Explain Delay In H/Year Results

UBA and Stanbic IBTC have announced delays in filing their half year returns to the Nigerian Stock Exchange and stakeholders.

The two banks which are listed on the NSE in dispatches to the NSE disclosed that they have received unforeseen delays in getting the requisite approvals from the Central Bank concerning their returns.

UBA said it expects to get the requisite approval and communicate same to the exchange by or before September 29.

Stanbic said it expects to file before September 25.

UBA in its letter to the exchange, by company secretary, Bili Odum said:

United Bank for Africa Plc (the Bank) 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 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.

Stanbic in its letter to the exchange written by company secretary, Chidi Okezie said:

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 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. Thank you for your understanding.

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