Skye Bank Delays Q1 And Q2 Results

skye Bank

Skye Bank said it will further delay the release of its Q1 and Q2 results 2016. In press release issued shortly by Skye Bank, the bank said the report will be filed by September 30, 2016.

The said it is using the medium to “inform the Nigerian Stock Exchange, our regulatory authorities, esteemed shareholders and other stakeholders of the reasons necessitating the application for an extension of time within which to file the interim Financial Statements for the periods ended March 31, and June 30, 2016”.

Providing a reason for the delay Skye Bank said that it “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 statement said.

Skye Bank received at least NGN100 billion from the Central Bank of Nigeria, CBN to bail the bank from going under.

 

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