KASB Bank Limited’s financial results for the half-year ended 30 June 2011

Karachi: We have to inform you that the Board of Directors of our Bank in their meeting hold on Saturday, August 27, 2011 at 10:00 AM at Karachi recommended the following:

 

(i)Cash DividendNil
(ii) Bonus SharesNil
(iii) Right SharesNil
(iv)Any Other Entitlement / Corporate ActionNil
(v)Any Other Price-Sensitive InformationNil

 

The financial results of the Bank are as follows:

 

Half year ended

Quarter ended

30 June

2011

30 June

2010

30 June

2011

30 June

2010

(Rupees in ‘000)

Mark-up / return / interest earned2,239,6212,672,5321,072,5881,417,073
Mark-up I return I interest expensed(2,538,939)(2,564,939)(1,299,014)(1,254,108)
————————— ———
Net mark-up / return / interest income (299,318)107,593(226,426)162,965
(Provision) / reversal against non-performing
loans and advances(887,612)89,095(754,815)28,249
Reversal / (provision) for diminution in the value
of investments88,154 (12,147) (123,750)(20,672)
Bad debts written off directly (5,915)(13,740)(4,360)(9,812)
—————— ——— ———
(805,373)63,208(882,925)(2,235)
 ——— —————— ———
Net mark-up / return / interest after provisions(1,104,691)170,801(1,109,351)160,730
Non mark-up / Interest income
Fee, commission and brokerage income141,324153,67282,93792,635
Dividend income2,42531,1671,851 14,878
Income from dealing in foreign currencies28,82031,83617,86016,508
(Loss) / gain on sale I redemption of securities (35,821)86,672(36,694)3,725
Unrealised gain on revaluation of investments

classified as held-for-trading

-5-119
Other income31,60162,22919,16840,164
————————————
Total non mark-up / interest income168,349365,58185,122168,029
 ——— —————————
(936,342)536,382(1,024,299)328,759
Non Mark-Up / Interest Expenses
Administrative expenses(1,098,854)(1,182,359)(559,792)(6l4,733)
Other provisions / write-offs(128,735)-(118,172) -
Other charges (13,324)(26,700)(13,196)(26,700)
 —————— ——————
Total non mark-up / interest expenses(1,240,913)(1,209,059) (691,160)(641,433)
 ——— ——— ——— ———
(2,177,255) (672,677) (1,715,389)(312,674)
Extraordinary / unusual items--- -
 —————— ——————
Loss before Taxation(2,177,255) (672,677) (1,715,389)(312,674)
Taxation ----
————————— ———
Loss after Taxation(2,177,255)(672,677) (1,715,389)(312,674)
—————— ——— ———
Basic and diluted ass per share (Rupees) (2.29)(0.71) (1.80)(0.33)

For more information, contact:
KASB Bank Limited
Business and Finance Centre,
I.I. Chundrigar Road,
Karachi – 74000,
Pakistan.
UAN: 111-555-666
Tel: (PABX) 92-21-32446005-10
Fax: 92-21-32446828
Web: www.kasb.com