KASB Bank Limited’s Financial Results for the Half-Year Ended 30 June 2012

Karachi, August 28, 2012 (PPI-OT): We have to inform you that the Board of Directors of our Bank in their meeting held on Monday, August 27, 2012 at 01:30 PM at Karachi recommended the following:

(1) Cash Dividend         Nil

(2) Bonus Shares          Nil

(3) Right Shares            Nil

(4) Any Other Entitlement / Corporate Action        Nil

(5) Any Other Price Sensitive Information                Nil

The financial results of the Bank are as follows:

Half year ended

Quarter ended

30 June 30 June 30 June 30 June
2012 2011 2012 2011
(Rupees in ‘000)
Mark-up/ return / interest earned 3,103,813 2,239,621 1,569,232 1,072,588
Mark-up/ return/ interest expensed (2,080,447) (2,502,520) (1,001,040) (1,279,161)
——— ——— ——— ———
Net mark-up/ return / interest income 1,023,366 (262,899) 568,192 (206,573)
Provision against non-performing loans and advances (704,458) (887,612) (471,963) (754,815)
Reversal/ (provision) for diminution in the value of investments 6,839 88,154 6,039 (123,750)
Bad debts written off directly (2,120) (5,915) (1,502) (4,360)
——— ——— ——— ———
(699,739) (805,373) (466,626) (882,925)
——— ——— ——— ———
Net mark-up/ return / interest after provisions 323,627 (1,068,272) 101,566 (1,089,498)
Non Mark-Up/ Interest Income
Fee, commission and brokerage income 279,601 141,324 176,304 82,937
Dividend income 8,948 2,425 4,688 1,851
Income/ (loss) from dealing in foreign currencies 844,456 (7,599) 599,947 (1,993)
Gain/ (loss) on sale/ redemption of securities 31,837 (35,821) 15,756 (36,694)
Unrealised gain on revaluation of investments classified as held-for-trading
Other income 31,545 31,601 14,756 19,168
——— ——— ——— ———
Total non mark-up/ interest income 1,196,387 131,930 1,111,451 65,269
——— ——— ——— ———
1,520,014 (936,342) 1,213,017 (1,024,229)
Non Mark-Up/ Interest Expenses
Administrative expenses (1,160,802) (1,098,854) (602,793) (559,792)
Other provisions/ write-offs (128,735) (118,172)
Other charges (16,206) (13,324) (16,206) (13,196)
——— ——— ——— ———
Total non mark-up / interest expenses (1,177,008) (1,240,913) (618,999) 691,160)
——— ——— ——— ———
343,006 (2,177,255) 594,018 (1,715,389)
Extraordinary/ unusual items
——— ——— ——— ———
Profit/ (Loss) before Taxation 343,006 (2,177,255) 594,018 (1,715,389)
Taxation – Current (21,139) (21,139)
– Prior years
– Deferred (125,842) (125,842)
——— ——— ——— ———
(146,981) (146,981)
——— ——— ——— ———
Profit/ (Loss) after Taxation 196,025 (2,177,255) 447,037 (1,715,389)
——— ——— ——— ———
Basic and diluted earning/ (loss) per share  (Rupees) 0.10 (1.12) 0.23 (0.88)

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

KASB Bank Limited’s free float of certificates

Karachi, August 03, 2012 (PPI-OT): In accordance with the Listing Regulations, we are please to provide Free-Float of certificates of the Shares of our Company  June 30, 2012 hereunder:

Total Outstanding Shares

1,950,861,662

Less:
Shares held by Directors/Sponsors

464,507,764

Government Holdings as promoter/acquirer/controller

Shares held by Associated Companies

19,858,649

Shares held by others defined as Sponsors as per
revised definition by the State Bank of Pakistan,
Which are blocked/ required to be blocked

1,275,995,165

Shares held with general public in Physical Form

23,628,023

1,783,989,501

Free-Float:

166,872,061

Total number of shares available in CDS

1,927,232,115

Total number of shares in physical form

23,629,547

1,950,861,662

For more information, contact:
Muhammad Hamidullah
Company Secretary
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

KASB Bank Limited’s public announcement of intention by Nishat Mills Limited for acquisition of 75.81% controlling stake in ICI Pakistan Limited

Karachi, June 11, 2012 (PPI-OT): On behalf of our client Nishat Mills Limited, a company registered in Pakistan, we KASB Bank Limited (KASBB) are pleased to submit the “Public Announcement of Intention” to Acquire the above captioned shareholding of Id Pakistan Limited under Regulation 6 (4) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulation 2008.

Kindly note, that KASB Bank Limited has been appointed as the Manager to the Offer by Nishat Mills Limited.

Regulation 6(4)1
Public Announcement of Intention to Acquire Approximately 75.81% Shares of ICI Pakistan Limited by Nishat Mills Limited Under Listed Companies (Substantial Acquisitions of Voting Shares and Take-Overs) Ordinance, 2002

1) Information about the acquirer

a. Name(s) and Address(s) of Acquiter along with persons acting in concert
i. Name:
Nishat Mills Limited

ii. Registered Office:
Nishat House, 53-A, Lawrence Road, Lahore

b. Name(s) and Address(s) of financial advisors of the acquirer, if any
i. Name;
KASB Bank Limited

ii. Principal Office:
Business and Finance Centre, I.I. Chundrigar Road, Karachi

c. Names of the chief executive and directors of the acquirer

i. Chief Executive; Mian Umer Mansha
ii. Directors;

Mr. Mian Timer Mansha
Mr. Mian Hassan Mansha
Mr. Khalid Qadeer Qureshi
Mr. Muhammad Azam
Mr. Maqsood Ahmed
Mr. Syed Zahid Hussain
Ms. Nabiha Shahnawaz Cheema

d. Names of Major Shareholders of the acquirer

The Nishat Group (represented by various individuals and group companies)

2) Information about the target company

Name of the target company, its directors and major shareholders

i. Name: IC Pakistan Limited
ii. Directors:

Mr. M. J. Jaffer
Mr. Waqar A. Malik
Mr. Mueen Afzal
Mr. Ali A. Aga
Mr. Dart Caster
Mr. Feroz Rizvi
Mr. M. Nawaz Tiwana
Mr. Derek W. Welch

iii. Major Shareholders:
ICI Omicron B.V. (75.81%)

1. Total Number of issued shares 92,359,050 Shares

Number of shares already held by the acquirer
NONE

Number of shares along with the percentage intended to be acquired by the acquirer through public offer or agreement.

Pursuant to the order of the Honourable Sindh High Court, ICI Pakistan Limited would effectively be reconstructed into two separate legal entities, namely Akzo Nobel Pakistan Limited and ICI Pakistan Limited. Subsequent to the approval of the Honorable Count, the Paints undertaking of ICI Pakistan Limited would transfer to and vest in Akzo Nobel Pakistan Limited and ICI Pakistan Limited will re-emerge with reduced capital. It is, therefore, our intention to target ICI Pakistan Limited alter giving effect to this reconstruction.

We, the acquirer, intend to acquire approximately 70,019,459 shares (appx. 75.81%) of the target company through agreement, which would ultimately be held by ICI Omicron B.V. If the acquirer proceeds to acquire these shares, the acquirer with make a public announcement of Offer to acquire shares ha accordance with the requirements of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance, 2002.

For more information, Contact:
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

KASB Bank Limited’s Sale of Shares of Khushhali Bank Limited (KBL)

Karachi, June 05, 2012 (PPI-OT): We would like to inform you that KASB Bank Limited (KASB) (the Bank) has executed the Share Purchase Agreement of date with United Bank Limited consortium comprising of United Bank Limited; ASN-NOVIB Microkredietfonds; responsibility Global Microfinance Fund; Rural Impulse Fund II S.A. SICAV-FIS; and Shorecap II Limited (UBL Consortium) whereby the Bank has sold its holding of 0.59% shares in KBL in line with UBL Consortium’s bid of Rs.20.44 (approx.) per share and in accordance with the regulatory approvals.

For more information, Contact:
Muhammad Hamidullah
Company Secretary
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

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

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

KASB Bank Limited’s free float of shares

Karachi: We refer to Regulation No. 23(3) of the Listing Regulations and Provide hereunder the Free Float of Shares of our Company as on 31-03-2012.

 

Total Outstanding Shares 1,950,861,662
Less: Shares by Directors/ Sponsors 464,599,686
Government Holdings as promoter/ acquirer / controller
Shares held by others defined as Sponsors as per revised
definition by the State Bank of Pakistan
Which are blocked/ required to be blocked 1,275,995,165
Shares held with general public in physical form 23,632,777 1,784,086,277
Free Float 166,775,385
Total number of shares available in CDS 1,927,226,589
Total number of shares available form 23,635,073
—————–
1,950,861,662

 

For more information, contact:
KASB Bank Limited
Razia Sharif Plaza, Jinnah Avenue,
90-Blue Area Islamabad
Tel: 92-51–2270725-92-51- 2276828-30
Fax: 92-51-2270727
www.kasb.com

KASB Bank Limited’s financial results for the year ended December 31, 2011

Karachi: We have to inform you that the Board of Directors of our Bank in their meeting held on Tuesday, April 03, 2012 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:

 

2011

2010

(Rupees in ‘000)

Mark-up/ return / interest earned 4,517,206 5,017,060
Mark-up / return / interest expensed (5,052,900) (5,064,141)
——— ———
Net mark-up /return / interest income (535,694) (47,081)
Provision against non-performing loans advances (682,614) (1,180,328)
Reversal / (provision) for diminution in the value of investments 33,074 (333,491)
Bad debts written off directly (7,987) (21,505)
——— ———
(557,527) (1,535,324)
——— ———
Net mark-up / return / interest income after provision (1,093,221) (1,682,405)
Non Mark-Up/ Interest Income
Fee, commission and brokerage income 359,939 327,511
Dividend income 14,905 61,535
Income from dealing in foreign currencies 109,250 64,389
Gain on sale/ redemption of securities 126,760 110,475
Unrealised loss on revaluation of investments classified as
held for trading
Other income 61,862 59,203
——— ———
Total non mark-up / interest income 672,696 623,113
——— ———
(420,525) (959,292)
Non Mark-Up / Interest Expenses
Administrative expenses (2,323,287) (2,495,158)
Other provisions / write offs (129,135)
Other charges (127,786) (925)
——— ———
Total non mark-up / interest expenses (2,580,208) (2,496,083)
——— ———
Loss before Taxation (3,000,733) (3,455,375)
Taxation – Current
– Prior years
– Deferred 630,808 744,706
——— ———
630,808 744,706
——— ———
Loss after Taxation (2,389,925) (2,710,669)
——— ———
Basic and diluted loss per share  (Rupees) (2.36) (2.85)

 

The Annual General Meeting of the Bank will be held on Saturday, April 28, 2012 at 11:00 AM at the Registered Office of the Bank at Razia Sharif Plaza, Jinnah Avenue, 90-Blue Area, Islamabad.

The Share Transfer Books of the Bank will be closed from April 21, 2012 to April 28, 2012 (both days inclusive). Transfers received at the office of M/s. Noble Computer Services (Private) Ltd., Mezzanine floor, House of Habib Building (Siddiqsons Tower), 3-Jinnah C.H. Society, Main Shahrah-e-Faisal, Karachi at the close of business on April 20, 2012 will be treated in time for the purpose of above entitlement to the transferees.

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