Do banks have to publish their financial statements?

Banking & Finance

Israel Small Flag Israel

In general, the financial reports of banking corporations and credit cards companies owned by them in Israel, are in accordance with the accepted accounting principles (Israeli GAAP), and in accordance with the Supervisor Reporting to the Public Directives, which requires them to publish annual and quarterly financial reports. With concern to most topics, these Directives are based on accepted accounting principles of U.S. banks, while other less significant topics are based on international financial reporting standards (IFRS) and on Israeli GAAP. Public companies in Israel are required to publish reports in accordance with the Securities Law, 1968, and regulations promulgated thereunder, which are regulated by the ISA. While banking corporation, which are public companies, publish their annual and quarterly reports under the Reporting to the Public Directives issued by the Supervisor as mentioned above, they are still subject to certain regulations according to the Securities Law, including publishing immediate reports regarding any material event or event that could significantly affect the price the the Company's securities.

Hungary Small Flag Hungary

Yes, credit institutions have to publish their financial statements annually according to applicable rules on accounting.

Latvia Small Flag Latvia

Yes, the banks are obliged to prepare public statements in order to inform the public regarding the activities and financial indicators of the bank.

Moreover, annual financial statements and consolidated financial statements are also made public.

Lithuania Small Flag Lithuania

Yes, the Lithuanian banks, including branches of foreign banks, have to publish their financial statements.

Poland Small Flag Poland

Yes, all joint stock companies incorporated in Poland must publish their financial statements in the Polish Register of Business Entities.

Romania Small Flag Romania

Yes, all banks have to publish their financial statements.

India Small Flag India

Banks in India are required to publish their balance sheet and profit and loss account along with an auditor’s report. The format and the requirements are prescribed under the BR Act. Further, the RBI or relevant national bank have the power (under section 28 of the BR Act) to publish information if they consider it in the public interest to do so.

More generally, under the provisions of the Companies Act, financial statements are required to be filed with the Ministry of Corporate Affairs, which are available as public records.

Japan Small Flag Japan

Banks are required to publish their financial statements for each half and full business year under the Banking Act.

Malta Small Flag Malta

Yes, banks in Malta have to publish their financial statements in accordance with the disclosure requirements stipulated under the CRR as well as the MFSA Banking Rule 7 of 2014 Publication of Annual Report and Audited Financial Statements of Credit Institutions Authorised under the Banking Act 1994.

Nigeria Small Flag Nigeria

Banks operating in Nigeria are required by Section 27 of BOFIA, subject to the written approval of the CBN, to publish, not later than four months after the end of each financial year, their audited financial statements in a national newspaper printed and circulated in Nigeria. Any bank which fails to comply with this requirement is in respect of each such failure guilty of an offence and liable on conviction to a fine of N10,000 each day during which the offence continues.

Norway Small Flag Norway

Yes, Norwegian banks are required to publish on their website their annual accounts, the annual report and the audit report without undue delay after adoption by the General Meeting. The bank shall ensure that the annual accounts, the annual report and the audit report remain public for at least five years.

Portugal Small Flag Portugal

Under Portuguese Law, credit institutions are obliged to make publicly available their financial statements (including consolidated financial statements).

Qatar Small Flag Qatar

Banks operating in Qatar must publish their financial statements and must consider the following:

  • Complying with all conditions, amendments or directions which QCB may require the banks regarding the financial statements.
  • Financial statements or announcement for the date of the general assembly meeting of the bank to approve the financial statements may not be published before having QCB’s approval on such statements.
  • Banks should obtain QCB’s approval on the annual balance sheet, income statement, profit distribution account for the bank, (financial statements) before approving the final statement for the national banks to be submitted to the general assembly, within one month from the date of receiving the end of year financial statement and its attachments, and also provided that the bank implements all conditions or amendments or instructions as required by QCB.
  • On approval of the general assembly, and the auditor, the final financial statements are to be published in one of the Qatari daily newspaper within four months after the end of the fiscal year and QCB should be provided with a copy. The final financial statements approved by the general assembly and the external auditor should be published in any of the Qatari daily newspapers within four months following the fiscal year end and QCB should be provided a copy thereof.

The financial statements of the foreign banks’ branches operating in the State of Qatar are to be published along with the financial statements of the parent bank in consolidation of its global branches, in one of the Qatari daily newspaper within four months after the end of the fiscal year and QCB should be provided a copy.

Switzerland Small Flag Switzerland

Yes, banks have to publish an annual report and an interim report and also make these available to FINMA (in addition to applicable listing requirements, if any).

Turkey Small Flag Turkey

Banks shall publish their annual consolidated and non-consolidated year-end financial statements in the Official Gazette by the end of April and submit the same to the BRSA pursuant to the Banking Law and the Regulation on Principles and Procedures of Accounting Practices of Banks and of Retention of Documents in Banks (the “Accounting Regulation”).

Additionally, banks shall make available at their websites their year-end and interim period financial statements, for a period of five years; and publish their annual activity reports at their respective websites by the end of May following the relevant financial period as per the Regulation on the Principles and Procedures concerning the Preparation of the Annual Report by Banks.

Also note that Turkish banking associations shall make available at their respective websites the year-end financial statements and interim period financial statements of banks.

Furthermore, pursuant to the Communiqué No. II-14.1 issued by the CMB, banks conducting capital markets activities shall publicly disclose their financial statements at the Public Disclosure Platform (Kamuyu Aydınlatma Platformu).

Austria Small Flag Austria

Pursuant to the BWG banks are required to publish their Annual Financial Statements as well as their Consolidated Financial Statements. The BWG contains some specific rules on the illustration of financial statements of credit institutions.

Bulgaria Small Flag Bulgaria

Yes, banks are obliged to publish in one central daily newspaper its balance sheet and a profit and loss account at least every six months.

Banks have to publish annually their financial statements for the whole financial year at the Commercial Register by 30 June of the following year.

A bank licensed in another Member State or a Third Country operating in Bulgaria through a branch is required to publish its financial statements in Bulgarian language on a stand-alone and consolidated basis, along with its auditor’s report.

Ecuador Small Flag Ecuador

COMF states that all the entities that are part of the national financial system are obliged to publish their financial statements, including: statements of financial position, profit-and-loss statements, statements of the situation of the technical equity, liquidity ratio, solvency ratio, efficiency ratio and profitability ratio. All of these statements must contain the opinion of an external auditor.

This publication must be performed after December 31 of each year, or when is required by the control entities in a national newspaper and in the webpage of the financial entity (Art. 221, COMF).

Ireland Small Flag Ireland

Credit institutions and any financial institution incorporated outside Ireland with a place of business in Ireland which would, if it were incorporated in the Ireland, be subject to licensing or supervision by the CBI pursuant to European Union (Credit Institutions: Financial Statements) Regulations 2015. (SI 266/2015), are required to publish their financial statements. Such financial statements are to be prepared in accordance with CA 2014.

France Small Flag France

Banking institutions must publish their annual financial statements.

Particularly, listed banks must publish their bi-annual financial report.

Also, these banks must publish as soon as possible any significant information which could have an impact on the share value.

An annual report on internal control must be sent to the ACPR.

Belgium Small Flag Belgium

In addition to general accounting regulation, a specific regime applies to credit institutions with regard to their financial statements and corresponding provision of information. First, credit institutions have to submit their financial statements to the NBB. Further specific rules regarding the publication of their consolidated financial statements, annual report and audit report are governed by Royal Decree. Second, credit institutions have to submit periodically a detailed financial statement to the relevant supervisory authority (either the NBB or the ECB – see question 1) in accordance with its respective rules. For certain categories of credit institutions, the supervisory authority can grant exemptions to both rules. Periodically, and at least four times a year, the NBB will also publish a set of totals for credit institutions.

Estonia Small Flag Estonia

A credit institution is required to publish the annual report, the proposal and decision for profit distribution or covering the losses and the sworn auditor’s report within two weeks after the general meeting of the shareholders has taken place but no later than within four months after the end of the financial year on its website and make them accessible for the public at the address of the credit institution, and in all its places of business. Eesti Pank (Eesti Pank is the central bank of the Republic of Estonia) may establish additional requirements for disclosure of reports and information.

Greece Small Flag Greece

Yes. Furthermore, credit institutions are required to publish the following information on the 30th of June of each calendar year:

  • their registered name(s), nature of activities, and geographical location(s)
  • their turnover
  • number of staff employed on a full-time (or equivalent basis)
  • annual results before tax
  • taxes on income and
  • state aid received.

This information shall be published, where possible, as an annex to the annual financial statements. The annual financial statements of credit institutions must also include key performance indicators, such as return on assets and return on investments.

Germany Small Flag Germany

Yes. Pursuant to section 340l of the German Commercial Code (Handelsgesetzbuch), credit institutions have to publish their annual reports.

United States Small Flag United States

Every national bank, state member bank, insured state nonmember bank and savings association is required to file quarterly Consolidated Reports of Condition and Income (Call Reports). Certain Call Report data are available to the public, though several items on the Call Reports are confidential and may not be available to the public. Reports submitted by US banks can be obtained from the following site:

Colombia Small Flag Colombia

When a bank is publicly listed in a stock exchange, it must publish through the Superintendence of Finance´s web platforms its relevant information, including its financial, accounting, legal, commercial and labor situation, in accordance with Decree 3139 of 2006. This information must be clear, sufficient, reliable and must also be available through the bank’s web platforms.

In accordance with the Organic Statute of the Financial System, institutions under surveillance of the Superintendence of Finance, such as banks, must provide their clients with sufficient information about their economic situation, by publishing its financial statements and general financial information in its web page, in order to allow clients to be better informed when choosing financial services and providers.

Finland Small Flag Finland

Credit institutions and their financial holding companies must file their financial statements and annual reports, including the audit report and a written statement on the distribution of the profit/loss with the Finnish Trade Registry within two months from the approval of the balance sheet and profit and loss statement. Deposit banks are further generally liable to prepare an interim report in accordance with the Finnish Securities Markets Act covering the first six months of the financial period.

The documents filed with the Finnish Trade Registry are open to the public. The documents must also be publicly available from the place of business of the credit institution and the head office of the financial holding company within two weeks from the approval of the balance sheet and profit and loss statement. Copies must be forwarded within two weeks to the person requesting such copies. Copies must also be provided upon request of any affiliated credit institutions that are not liable to disclose their financial statements in accordance with Finnish law.

A credit institution shall further publish information concerning its profit ratio and financial position in accordance with the Capital Requirements Regulation and provide information in connection with its annual accounts on the operation of branches and subsidiaries.

Credit institutions are also subject to regular reporting requirements to the FFSA with respect to e.g. their own funds, large exposures and financial information in accordance with the standardized EU regulatory reporting.

Credit institutions issuing securities admitted to trading on a regulated market are also subject to the regular and on-going disclosure requirements of the Finnish Securities Markets Act implementing Directive 2004/109/EC (as amended, the Transparency Directive) on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market.

United Kingdom Small Flag United Kingdom

Yes - generally English banks are subject to the same corporate law disclosure requirements as other English company.

Updated: February 14, 2018