UBA Blames Delay in Releasing Financial Statements on regulatory Approval

The United Bank for Africa (UBA) Plc through the Nigerian Stock Exchange announced that it would now release its audited financial statements for the first half of the year on or before September 29, 2020.

The bank attributed its failure to submit within the extended regulatory filing period to regulatory approvals.

The lender has joined the list of listed companies struggling to file financial statements within the stipulated deadline. While most have attributed the delay to COVID-19 disruption, UBA said it was because of regulatory approvals.

In a statement signed by Bili A. Odum, Group Company Secretary, UBA said “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.“