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

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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