KASB Bank Limited’s financial results for the quarter ended March 31, 2012

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Karachi: We have to inform you that the Board of Directors of our Bank in their meeting held on Thursday, April 26, 2012 at 02:00 PM 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;

	31 March	31 March
	2012	2011
	(Rupees in `000)
Mark-up / return / interest earned	1,534,581	1.167,033
Mark-up / return / interest expensed	(1,079,407)	(1,223,359)
	———–	———–
Net mark-up / return / Interest income	455,174	(56,326)
Provision against non-performing loans and advances	(232,495)	(132,797)
Reversal/(Provisional) for diminution in the value of investments	–	211,904
Bad debts written off directly	(618)	(1,555)
	———–	———–
	(233,113)	77,552
	———–	———–
Net mark-up / return / interest after provisions	222,061	21,226
Non mark-up/ Interest income
Fee, commission and brokerage income	103,297	58,387
Dividend income	4,260	574
Income from dealing in foreign currencies	(55,491)	(5,606)
Gain on sale of securities	16,081	873
Unrealized gain / (loss) on revaluation of investments classified as
held-for- trading	–	–
Other Income	16,789	12,433
	———–	———–
Total non mark-up / interest income	84,936	66,661
	———–	———–
	306,997	87,887
Non Mark-Up / Interest Expenses
Administrative expenses	(558,009)	(539,062)
Other provisions / write offs	–	(10,563)
Other charges	–	(128)
	———–	———–
Total non mark-up I interest expenses	(558,009)	(549,753)
	———–	———–
Loss Before Taxation	(251,012)	(451,866)
Taxation-Current	–	–
– Prior years	–	–
-Deferred	–	(87,500)
	———–	———–
	–	(87,500)
	———–	———–
Loss After Taxation	(251,012)	(549,366)
	———–	———–
	(Rupees in `000)
Loss per share	(0.13)	(0.58)

For more information, contact:
Syed Liaquat Ali
Chief Financial Officer
KASB Bank Limited
Principal Office: Business and Finance Centre,
I.I. Chundrigar Road, Karachi, 74000, Pakistan
Tel: (PABX) 92-21-32446005-10, 32446772-7
UAN: 021-111-555-666
Fax: 92-21-32446828
Web: www.kasb.com