UBA, Stanbic IBTC State Reason For Delayed Financials, Reveal New Dates

United Bank for Africa (UBA) and Stanbic IBTC have both revealed why they are yet to release their audited financial statement for the first half of 2020. The first half and second-quarter financial results cover January (April; to June 2020, and according to the Nigerian Stock Exchange (NSE) listing rules, financials for each quarter should be out 30 days after the end of every quarter.

In a statement released by UBA and seen by AllNews, the company said the company's financials are 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 Audited Financial Statements are still undergoing necessary regulatory approvals.

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"However, the Bank is optimistic that the Audited Financial Statements will be submitted to the Exchange on or before September 29, 2020," UBA said in the statement signed by the company secretary, Bili Odum.

Meanwhile, Stanbic IBTC stated that "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 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." Stanbic Bank said in a statement seen by AllNews.