A Latest Statement of Account, or account statement, is issued by a Property Developer to the buyer. It lists out all the financial transactions between the two within a specific time period (typically, monthly). The statement may reflect a zero balance, if not, it reflects the Outstanding Balance that the client needs to settle.
Banks require this document due to the following:
To verify that the borrower has already completed, or about to complete, the down payment for the property.
To asses if the loan amount being requested by the borrower is realistic based on the remaining amount due to the Property Developer.