Please
refer to ‘Para 3.2 and 3.3 of Master Circular on Financial
Disclosure – Frequency & Timeline’ as issued
vide BSD Circular No. 1 of 7th January 2004.
2
State Bank is pleased to prescribe a format for the quarterly
and half-yearly financial statements, which the banks/DFIs
are obliged to issue as per above circular.
3 Further, keeping in view the representations made by various
banks regarding the difficulties faced by them in circulation
of their quarterly and half-yearly financial statements to
the shareholders as well as the cost involved in this process,
it has been decided that henceforth:
a)
Banks/DFIs shall publish their quarterly and half-yearly financial
accounts in the newspaper(s) within the time limit as prescribed
in above-mentioned circular.
b) Banks/DFIs may circulate their quarterly & half-yearly
accounts to their shareholders, however, this requirement
of circulation to the shareholders is not mandatory.
c) In addition to above, banks/DFIs are encouraged to post
their quarterly & half-yearly accounts on their websites.
4 All banks/DFIs are advised to issue their quarterly and
half-yearly financial statements as per enclosed format and
ensure to get them published in the newspaper(s) within timeframe
as prescribed in BSD Circular No. 01 of 7th January 2004.
5
Other instructions of the Companies Ordinance 1984; Banking
Companies Ordinance 1962; directives/regulations of the SECP,
the Stock Exchanges and the SBP, on the subject, shall remain
the same.
6 Instructions stated under Para 4 are applicable from the
quarter ending 30th June 2004 and onwards.
Please
acknowledge receipt.
Encl:
As above: balance sheet,
profit & Loss, Cash
Flow, Changes in Equity,
notes(1-5),
notes(6-7), notes(8-10) |