Fidelity Bank Half Year Report Ready September 28

Fidelity Bank Plc has disclosed that its half year financial report will be made available to stakeholders through the Nigerian Stock Exchange (NSE) on September 28.

This is sequel to regulator’s approval.

The bank also informed that it has completed the audited accounts submitted to Central Bank of Nigeria for approval.

In a regulatory filing signed by Wzinwa Unuigboje, the company’s secretary, the bank disclosed further “the audited accounts will be published on the foor of The Exchange” after the CBN approval, which is still pending.

“The Exchange has granted a 30-day extension of time to file the Bank’s Audited Half Year Financial Statements for the period ended June 30, 2020 (2020 H1 AFS). The Bank expects to publish the 2020 H1 AFS on or before September 28, 2020.

“In addition, kindly be informed that the trading window for dealings on the Bank’s shared shall remain closed to all insiders until 24 hours after the release of the Bank’s 2020 H1 AFS.” the bank said

Earlier, the United Bank of Africa (UBA), Stanbic IBTC and Zenith Bank have all issued statements on the delay in the approval of their financial reports for the first six months of the year by the regulator

They stated that they are experiencing a slight delay in the release of the 2020 Half Year Audited Financial Statements.

“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,” stated Stanbic IBTC Secretary , Chidi Okezie.

Analysts believe that a delay in approval by the CBN could be caused by certain query on the financial report by the regulator, which the banks are yet to respond to.

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