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Financial Results

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 Dividend Nil
(ii)  Bonus Shares Nil
(iii)  Right Shares Nil
(iv) Any Other Entitlement / Corporate Action Nil
(v) Any Other Price-Sensitive Information Nil

 

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 earned 2,239,621 2,672,532 1,072,588 1,417,073
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 investments 88,154  (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 income 141,324 153,672 82,937 92,635
Dividend income 2,425 31,167 1,851  14,878
Income from dealing in foreign currencies 28,820 31,836 17,860 16,508
(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 income 31,601 62,229 19,168 40,164
——— ——— ——— ———
Total non mark-up / interest income 168,349 365,581 85,122 168,029
 ———  ——— ——— ———
(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

kasb-bank-limited%e2%80%99s-financial-results-for-the-half-year-ended-30-june-2011

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