Stanbic IBTC yesterday formally informed the NGX Regulation Limited as well as its esteemed stakeholders that the bank is experiencing a slight delay in the release of the 2021 Full Year Audited Financial Statements for Stanbic IBTC Holdings PLC.
In a press release signed by the Company Secretary, Chidi Okezie, and presented to the Exchange, the delay was occasioned by the fact that the bank is currently seeking the approval of the primary Regulator, the Central Bank of Nigeria (“CBN”) for the 2021 Full Year Audited Financial Statements, following which the said Financial Statements will then be released to the Market.
The bank said it is working diligently to ensure that their 2021 Full Year Results are submitted to the Nigerian Exchange Limited as soon they receive approval from the apex bank, and this may occur before or shortly after the regulatory due date of 31 March 2022.
It would be recalled that the bank in January Stanbic IBTC Holdings PLC said it was in the process of establishing a wholly-owned Financial Technology Subsidiary.
The bank announced that it has commenced the process of seeking Regulatory approvals to establish a wholly-owned Financial Technology subsidiary to be known and referred to as Stanbic IBTC Financial Services Limited.
Subject to receiving all required regulatory approvals, including licensing by the Central Bank of Nigeria, the new subsidiary will function primarily as a Payment Solution Service Provider (PSSP).
Accordingly, Stanbic IBTC will update the market upon completion of the regulatory approval process as well as licensing of the new subsidiary.
Meanwhile, on the trading floor of the exchange, the twin major indicators recorded a decline of 0.2 per cent respectively. The market capitalization dropped N47 billion to close at N25.514 trillion while the All-Share Index reduced by 87.81 points to close at 47, 340.86 basis points.
The Bond and ETF capitalizations on the other hand both slightly improved by 0.005 per cent and 2.27 per cent a growth of N1 billion to close at N21.568 trillion and N158 million to close at N7.117 billion.
In all, investors transacted 183.256 million shares worth N2.475 trillion across 3,779 deals. Fifteen equities recorded price appreciation as against twenty-two others with price reduction.
The gains were marginal as the top five only improved between 4.76 per cent and 3.67 per cent growth. The drop was heavier as the top five reduced between 8.82 per cent and 5.71 percent respectively.
