Skye Bank explains delay in releasing interim results

Skye Bank Plc has informed the regulatory authorities, shareholders and other stakeholders that it would be late in filling its interim Financial Statements for the periods ended March 31, and June 30, 2016.

The lender, in a notice to the Nigerian Stock Exchange (NSE), gave the reasons which necessitated the application for an extension of time and promised that the statements would be filled by September30, 2016.

These are the explanations of the bank : “You will recall that the Bank sought an extension of time to file the 2015 Annual Financial  Statements  as  a  result  of  the  delay  in  the  annual  audit  due  to  the challenges  faced  with  the  integration  with  Mainstreet  Bank  Limited  which  was approved mid-2015.

“On  July  4,  2015,  twelve  of  the  sixteen  Directors  on  the  Board  of  the  Bank resigned their appointment, and the CBN appointed a new GMD/CEO, Chairman and five other Directors on the Board.

“The  Bank  is  currently  auditing  its  1H16  results  and  is  hopeful  that  the  audit process would be completed soon. The Interim Results will be filed by September 30, 2016.