Dipo Olowookere
By Dipo Olowookere
Access Bank Plc has said its audited financial statements for the period ended June 30, 2019 would be ready on or before Sunday, September 15, 2019.
In a disclosure yesterday, the bank said it experienced delay in filing the results to the Nigerian Stock Exchange (NSE) because of its merger with Diamond Bank in the first quarter of this year.
The tier-one financial institution assured that a similar situation will likely not happen in the future, saying “this is considered a one-off event being the maiden audit sequel to the merger.”
The lender said it was not in the habit of filing the documents, detailing its financial status, late to the regulatory authorities as required of publicly quoted firms.
“We refer to the post listing requirements of the NSE on filing of half year financial statements by quoted companies.
“Customarily, Access Bank Plc normally renders audited financial statements half yearly, which in line with the rules of the exchange is expected to be published within 60 days from the end of period.
“Due to the recently concluded merger between Access Bank and defunct Diamond Bank and consequent business integration, the half year audit of the enlarged institution has taken more time time complete than usual. This is considered a one-off event being the maiden audit sequel to the merger.
“Consequently, we hereby notify the exchange and the investing public that the bank’s half year audited financial statement, subject to Central Bank of Nigeria’s approval, will be submitted not later than September 15, 2019,” the notice read.
