Skye Bank explains delay in 2016 result, market closes negative

The management of Skye Bank Plc. has informed the Nigerian Stock Exchange (NSE), its shareholders and other stakeholders that it has surmounted most of the challenges that led to the delayed release of the Audited Financial Statement for the year ended December 31, 2016.

The statement further read that: “The draft Audited Financial Statement (AFS) for the year ended 31 December 2016 is currently awaiting the final approval of the bank’s primary regulator, the Central Bank of Nigeria (CBN). The bank is hopeful that the 2016 AFS would be approved and filed at the NSE before the end of the current quarter.”

Meanwhile, equities market NSE closed yesterday on a negative note, as the Market Capitalisation dropped by N29bn to close at N11, 460tn.

The NSE All Share Index (ASI) depreciated by -0.28 per cent to close at 33,141.85 basis points, as against -0.12 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +23.32 per cent.

Market breadth closed positive as Maybaker led 31 Gainers against 28 Losers topped by FO at the end of today’s session-an improved performance when compared with previous outlook.

Market turnover closes negative as volume moved downed by -18.13 per cent against -26.99 per cent downtick recorded in the previous session. Zenith Bank, Transcorp and FCMB were the most active to boost market turnover. Zenith Bank and NB topped market value list.

The summary of the market activities show that a total of 410m shares worth 5.5bn exchanged hands in 6,167 deals.