Access Bank Delays Half-Year Financial Record For Another Month, Prohibits Insiders From Trading Company Shares

Access Bank Holdings Plc will delay its half-year financial report ending June 2023 for an extra month, the bank has said.

In a filing titled, ‘Potential Delay in Publication of The Group’s Audited Interim Financial Statements for Half Year Ended June 30, 2023,’ the lender linked the delays to its recent acquisitions of new banks.

Access said it would potentially delay the publication of the Company’s Audited Interim Financial Statements for the half year ended June 30, 2023, until September.

“This is engendered by the complexity of the post-completion audit activities of the newly acquired sub-subsidiaries of the banking group,” the Holdco said in the filing obtained by THE WHISTLER.

Access Bank had announced a series of acquisitions of banks across the continent including, Standard Chartered’s subsidiaries in Angola, Cameroon, The Gambia, Sierra Leone, and its consumer, private & business banking business in Tanzania and Finibanco Angola S.A.

“In view of the foregoing, Nigerian Exchange Ltd (NGX) has approved an extension of time to file the Results on or before September 15, 2023, subject to the Central Bank of Nigeria’s approval of the Results,” the lender said.

The company further extended the close period, which is a prohibition placed on insiders trading the company shares or making any relevant information public.

“The Company’s insiders are hereby reminded that the earlier declared closed period in respect of transactions on its securities remains in place until 24 hours after release of the Results,” Access Bank added.