A press statement released to the Nigerian Stock Exchange (NSE) by Guaranty Trust Bank Plc (NSE Ticker: GUARANTY), notified its Shareholders and the investing public about the reasons for the delay in the release of the bank’s audited half-year financial statement for the period ended June 30, 2020.
According to the press release seen by Investogist, the bank stated that the Board had on July 22, 2020 finalized the financial statements with the bank’s external auditors and submitted the same to the bank’s primary regulator for approval before it could be released to the market.
The press release went further to say that the bank’s primary regulator (Central Bank of Nigeria) is still in the process of reviewing the financial statements, hence the reason it has not been released to the market.
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In view of the foregoing, and in accordance to NSE requirements, the bank said it has sought and obtain a 30-day extension of time from the NSE to publish its financial statements for the aforementioned period.
GUARANTY therefore assured that if the approval from the primary regulator is received earlier, the bank’s financial statement would be release to the market earlier than the period approved by The Exchange.
Earlier today, STANBIC and UBA has issued similar press releases, as they too are yet to release their half year financial statements. ACCESS and ZENITHBANK have also not released theirs, but at the time of this report, they have not issue any press statement to this effect.
The press statement was signed by the Company Secretary; Erhi Obebeduo.