Parent credit organizations of the banking groups are obliged to disclose consolidated interim financial statements

According to the Directive of the Central Bank of the RF of 16.01.2017 №4265-U «On Amendment to the Directive of the Central Bank of Russia of December 3, 2012 №2923-U «On Disclosure and Presentation of consolidated financial statements by the Parent credit organizations of the banking groups», a parent credit organization of the banking group is obliged to disclose simultaneously with the consolidated interim financial statements for the first 6 months (including statements for 6 months of 2018) audit report on these statements or other document compiled according to auditing standards following the results of the statement`s audit. In cases when audit of consolidated interim financial statements was conducted for three or nine months, these financial statements are disclosed together with the audit report.

Earlier consolidated interim financial statements were disclosed together with the audit report.

Besides, according to the Directive, it is prescribed to display the link about disclosure of the financial statements on the web-site of the parent financial institution of the banking group, in case if the decision was taken to disclose statements in other place. Access to the information, as well as to the audit report, should be given to all the concerned during 3 years starting from the publication date.

The Directive of the Central Bank of the RF №4265-U is registered in the Ministry of Justice of the RF of 03.02.2017 with №45532 and currently came into force.

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