WorldStage- The stock market has reacted to Stanbic IBTC’s announcement of the likely delay in the release of its audited financial statement for 2025 by March 31.
The bank’s stock dipped 5.35 percent from its Monday closing price N128.90 following the announcement it disclosed on the Nigerian Exchange Group (NGX) February 24.
“The Company is currently finalising the audit of its 2025 AFS, following which we would also be seeking the required regulatory approvals,” company Secretary Chidi Okezie said in a statement.
PwC, one of the world’s four big auditing firms, has been auditing the bank annually, and its service got further approval in 2024 to remain the bank auditor.
Delays in releasing AFS’s usually happen when companies and their auditors differ on certain standards and internal controls, the disagreement thus requiring more time to resolve. Market suspects this, and usually responds negatively.
Stanbic IBTC also said seeking regulatory approvals will alsodetermine the release of the financial statement.
“This may occurs before or shortly after the regulatory due date 31 March, 2026,” Okezie added.
