REVIEWED FINANCIAL RESULTS FOR THE QUARTER / NINE MONTHS ENDED 31st DECEMBER 2015

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(Rs. In lakhs)

Particulars 3 Months ended  Nine Months Ended Year ended
31-Dec-15 30-Sep-15 30-Dec-14 31-Dec-15 31-Dec-14 31-Mar-15
  Reviewed Reviewed Audited
1. Interest earned (a)+(b)+(c)+(d) 135236 136453 136466 407323 406805 539587
a) Interest / discount on advances  /bills 107567 108388 106715 324209 316685 421131
 b) Income on Investments 27203 27537 28745 81569 88038 115816
c) Interest on balances with RBI and other interbank funds 20 47 446 135 570 624
d) Others 446 481 560 1410 1512 2016
2. Other Income 17278 20574 14714 54068 40105 58084
3. Total Income (1+2) 152514 157027 151180 461391 446910 597671
4. Interest Expended 90416 92711 97359 276451 299953 392997
5. Operating Expenses (i+ii) 29541 28792 27552 87286 78628 110345
    (i) Employees cost 12655 13304 13979 40811 38929 54705
    (ii) Other operating expenses 16886 15488 13573 46475 39699 55640
6. Total Expenditure (4+5) excluding provision and contingencies 119957 121503 124911 363737 378581 503342
7. Operating Profit before Provisions and Contingencies (3-6) 32557 35524 26269 97654 68329 94329
8. Provisions (other than tax) and Contingencies 9274 12602 10615 33641 28568 48051
9. Exceptional items 0 0 0 0 0 0
10. Profit /(Loss) from Ordinary activities before tax (7-8-9) 23283 22922 15654 64013 39761 46278
11.Tax expense 8000 8700 4266 21050 7116 717
12.Net Profit from ordinary activities after tax(10-11) 15283 14222 11388 42963 32645 45561
13.Extraordinary items (net of tax expense) 0 0 0 0 0 -867
14.Net Profit for the period (12-13) 15283 14222 11388 42963 32645 46428
15.Paid-up equity share capital (FV Rs.10/-) 12186 12186 12098 12186 12098 12163
16.Reserves excluding Revaluation Reserve (as per balance sheet of previous accounting year) 412440 412440 321916 412440 321916 412440
 
  3 Months ended  Nine Months Ended Year ended 
31-Dec-15 30-Sep-15 31-Dec-14 31-Dec-15 31-Dec-14 31-Mar-15
Reviewed Reviewed Audited
17. Analytical Ratios            
(i) % of shares held by Government of India 0% 0% 0% 0% 0% 0%
(ii) Capital Adequacy Ratio-Basel II 13.30% 13.10% 13.98% 13.30% 13.98% 14.63%
Capital Adequacy Ratio-Basel III 12.90% 13.00% 14.01% 12.90% 14.01% 14.62%
(iii) Earnings per share (EPS)             
a)Basic EPS before and after extra ordinary items (not annualized) 12.54 11.67 10.26 35.26 28.90 39.86
b) Diluted EPS before and after extraordinary items (not annualized) 12.54 11.67 10.22 35.26 28.77 39.78
 
(iv) NPA Ratios            
a) Gross NPA 72118 73204 68010 72118 68010 67778
b) Net NPA 35951 35452 25661 35951 25661 28097
c) % of Gross NPA 1.91% 1.96% 1.91% 1.91% 1.91% 1.85%
d) % of Net NPA 0.96% 0.96% 0.73% 0.96% 0.73% 0.78%
e) Return on Asset(annualized) 1.10% 1.03% 0.85% 1.05% 0.82% 0.88%

 


 

(Rs. In lakhs)

Segment Reporting for the period ended 31st December 2015
Business Segments 3 Months ended  Nine Months Ended Year ended 
31-Dec-15 30-Sep-15 30-Dec-14 31-Dec-15 31-Dec-14 31-Mar-15
Reviewed Reviewed Audited
Segment Revenue
1. Treasury Operations 30700 35030 33057 94633 95912 128011
2. Corporate/Wholesale Banking Operations 44924 43617 40742 132430 120163 163005
3. Retail Banking Operations 76633 78126 77157 233539 230160 305643
4. Other Banking Operations 257 254 225 789 676 1013
Total 152514 157027 151181 461391 446911 597672
Segment Results
1. Treasury Operations 3229 9887 5514 17288 7136 13109
2. Corporate/Wholesale Banking Operations 12256 11270 8925 34666 26100 35739
3. Retail Banking Operations 22556 19819 17579 62213 52062 67737
4. Other Banking Operations 234 231 207 719 625 933
Total 38275 41207 32225 114886 85923 117518
 
 
Unallocated Income/Expenses 5718 5683 5956 17232 17594 23189
Operating Profit 32557 35524 26269 97654 68329 94329
Income Taxes 8000 8700 4266 21050 7116 717
Other Provisions 9274 12602 10615 33641 28568 48051
Net Profit from ordinary activities 15283 14222 11388 42963 32645 45561
Extraordinary items 0 0 0 0 0 867
Net Profit 15283 14222 11388 42963 32645 46428
 
Other Information
Segment Assets 3 Months ended  Nine Months Ended Year ended 
31-Dec-15 30-Sep-15 30-Dec-14 31-Dec-15 31-Dec-14 31-Mar-15
Reviewed Reviewed Audited
1. Treasury Operations 1426080 1369645 1413156 1426080 1413156 1238559
2. Corporate/Wholesale Banking Operations 1389014 1369567 1309579 1389014 1309579 1345414
3. Retail Banking Operations 2307841 2296845 2202271 2307841 2202271 2265480
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Assets  452643 443019 462305 452643 462305 465795
Total 5575578 5479076 5387311 5575578 5387311 5315248
Segment Liabilities 
1. Treasury Operations 1309645 1426080 1381527 1309645 1381527 1238559
2. Corporate/Wholesale Banking Operations 1418676 1389014 1321628 1418676 1321628 1345414
3. Retail Banking Operations 2315948 2307841 2196859 2315948 2196859 2265480
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Assets  455828 452643 440227 455828 440227 465795
Total 5500097 5575578 5340241 5500097 5340241 5315248
Segment Liabilities 
1. Treasury Operations 1258348 1494649 1366084 1258348 1366084 1234898
2. Corporate/Wholesale Banking Operations 1277327 1214371 1183930 1277327 1183930 1206349
3. Retail Banking Operations 2085623 2017777 1967955 2085623 1967955 2031394
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Liabilities 410587 395852 394165 410587 394165 418004
 
Capital Employed 468212 452929 428107 468212 428107 424603
Total Liabilities 5500097 5575578 5340241 5500097 5340241 5315248

 


GEOGRAPHIC SEGMENTS: The Bank operates only in Domestic segment.

 


Notes:


1) The above financial results for the period ended December 31,2015 have been reviewed by the Audit Committee of the Board and approved by the Board of Directors at their meeting held on January 13, 2016 and subjected to limited review by the Statutory Central Auditor of the bank.

2) There has been no change in the accounting policies followed during the period ended December 31, 2015 as compared to those followed in the preceding financial year ended 31st March 2015.

3) The above interim financial results have been arrived at after considering various provisions as per RBI Guidelines, for loan losses and depreciation on Investments ,Standard Advances, Restructured Advances, exposure to entities with the Unhedged Foreign Currency Exposure. Provison for employees retirement benefits like pension,gratuity and leave encashment have been made as per Acturial valuation. Provision for Income Tax, Deferred Tax and other contingencies are on estimated and proportionate basis and are subject to adjustments if any, at the year end.

4) Provision of Rs 32.45 crore has been made during the first quarter of the current financial year towards the final balance of wage arrears, based on 10th Bi-partite settlement, which is effective from November 01,2012.

5) During the nine months period ended 31st December 2015, the bank had alloted 2,34,845 shares persuant to the exercise of stock options by certain employees at Rs. 275 per share and Rs. 10.75 crore has been credited to share premium account.

6) In terms of RBI Circular DBOD.No.BP.BC.2/21.06.201/2013-14 dated 1st July 2013, on Basel III capital regulations certain Pillar 3 disclosure requirements are to be made along with publication of financial results. Accordingly the disclosure has been placed on the website of the bank which can be accessed at the link http://www.kvb.co.in/footer/pillarIII_disclosures.html. The disclosure has not been subjected to limited review by the statutory Central auditors of the bank.

7) In accordance with RBI guidelines, Bank has shifted Securities amounting to Rs.153.03 crore from AFS to HTM category and Rs.598.91 crore from HTM to AFS category and the resultant depreciation of Rs.3.38 crore has been charged to Profit & Loss account during the first quarter of the current financial year.

8 ) Pursuant to RBI circular DBR.BP.BC.No.31/21.04.018/2015-16 dated July 16, 2015, the Bank has, effective quarter ended June 30, 2015, included its deposits placed with NABARD / SIDBI / NHB on account of shortfall in priority sector targets under schedule 11 - "Other Assets". Hitherto these were included under "Investments". Interest Income on these deposits has been included under "Interest Earned - Others". Hitherto such interest income was included under "Interest Earned - Income on Investments". Figures for the previous periods have been regrouped / reclassifed to conform to current period's classification. The above change in classification has no impact on the profit of the Bank for the quarter/ period ended 31st December, 2015 and previous period presented.

9 ) During the current quarter, the Bank has sold assets to ARC aggregating Rs.98.07 crore. The bank has spread over the shortfall in the sale value over the NBV over a period of two years, in terms of RBI Master circular DBR.No.BP.BC.2/21.04.048/2015-16 dated July 1, 2015. Accordingly a sum of Rs.4.44 crore has been charged to profit and loss account during the current quarter. The balance amount of Rs.31.06 crore will be spread over to the next seven quarters.

"10) The position of investor complaints is as under. No. of complaints pending at the beginning of the quarter Nil ; received during the quarter - 12; disposed off during the quarter -12; pending at the end of the quarter Nil."

11) Provision Coverage Ratio is 75.20 % as on 31.12.2015.

12) Figures of the corresponding period have been re-classified/regrouped wherever considered necessary.


For and on behalf of Board of Directors

Place: Karur


Date: 13th January, 2016

-sd/-

K.Venkataraman

Managing Director& C.E.O

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