Zenith, First Bank Hold Board Meetings

By Tosin Olatokunbo

Tier I commercial lenders, Zenith Bank and First Bank have fixed the end of October for their respective Board of Directors meetings, according to information published on the website of the Nigerian Exchange Limited, NGX.

Zenith Bank, in a statement by Michael Otu, the Board Secretary said the meting scheduled for October 28 will discuss the group’s unaudited financial statements for the third quarter of the year ended September 30, 2021.

According to the statement, the Ebenezer Onyeagwu-led bank said the Board will meet ‘’In line with listing regulations of the Nigerian Exchange Limited (NGX or the Exchange) for quoted companies, Zenith Bank Plc (the Bank) hereby informs its shareholders, NGX and the investing public that the Board of Directors of the Bank is scheduled to meet on Thursday, October 28, 2021 to consider the Group’s Unaudited Financial Statements for the third quarter ended September 30, 2021.

As a result, and in line with provisions of Rule 17.18(a) Close Period, Rulebook of the Exchange, 2015 (Issuers’ Rule) as amended, the tier-1 bank commenced a Closed Period from Friday, 1 October 2021. The closed period will run until 24 hours after the unaudited accounts is released to the public.

Therefore, directors, employees, advisers, consultants and their connected persons and any other person(s) with insider information are prohibited from trading in the shares of the company during the closed period in compliance with these provisions.

Also, First Bank Holdings Plc said in a statement signed by the Secretary of its Board, Seye Kosoko that the meeting will take place on October 27, to discuss and approve the Bank’s unaudited financial statements for the nine months period ended September 30, 2021.

“This is to inform the public and stakeholders that the Board of FBN Holdings Plc will be meeting to consider the Unaudited Nine Month Account, on Wednesday, October 29, 2021.

“The closed period shall commence on Friday, October 1, 2021 and will continue until Twenty Four hours after the accounts are filed vial issuers Porter of Nigerian Exchange Limited (The Exchange” in line with rule 17.18(a) Closed Period Rules, Rulebook of the Exchange, 2015 (as amended) (Issuers Rules),” the first generation bank said.

According to Zenith bank’s audited half-year financial results presented to the Nigerian Exchange, NGX in August, the Group recorded a growth in profit before tax of three percent from N114 billion reported in H1 2020 to N117 billion in H1 2021, while First Bank grew profit by 6.9 percent to N38 billion in the first half of 2021 compared to N35.6 billion in the same period last year.