REVIEWED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30th SEPTEMBER 2014

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(Rs. In lakhs)

Particulars 3 Months ended  Half Year Ended Year ended 
30-Sep-14 30-Jun-14 30-Sep-13 30-Sep-14 30-Sep-13 31-Mar-14
  Reviewed Reviewed Audited
1. Interest earned (a)+(b)+(c)+(d) 135890 134449 127269 270339 249522 511596
a) Interest / discount on advances  /bills 105199 104771 95656 209970 187728 387200
 b) Income on Investments 30608 29611 31150 60219 59204 119738
c) Interest on balances with RBI and other interbank funds 57 67 124 124 242 1092
d) Others 26 0 339 26 2348 3566
2. Other Income 13596 11795 10620 25391 31313 56445
3. Total Income (1+2) 149486 146244 137889 295730 280835 568041
4. Interest Expended 102148 100446 97431 202594 186496 383226
5. Operating Expenses (i+ii) 26627 24449 24777 51076 46786 101036
(i) Employees cost 12675 12275 13154 24950 23931 52792
(ii) Other operating expenses 13952 12174 11623 26126 22855 48244
6. Total Expenditure (4+5) excluding provision and contigencies 128775 124895 122208 253670 233282 484262
7. Operating Profit before Provisions and Contingencies (3-6) 20711 21349 15681 42060 47553 83779
8. Provisions (other than tax) and Contingencies 9311 8642 11847 17953 28163 44231
9. Exceptional items 0 0 0 0 0 0
10. Profit /(Loss) from Ordinary activities before tax (7-8-9) 11400 12707 3834 24107 19390 39548
11.Tax expense 2350 500 -4455 2850 -929 -3412
12.Net Profit from ordinary activities after tax(10-11) 9050 12207 8289 21257 20319 42960
13.Extraordinary items (net of tax expense) 0 0 0 0 0 0
14.Net Profit for the period (12-13) 9050 12207 8289 21257 20319 42960
15.Paid-up equity share capital (FV Rs.10/-) 12086 10729 10718 12086 10718 10718
16.Reserves excluding Revaluation Reserve (as per balance sheet of previous accounting year) 321916 321916 297801 321916 297801 321916
17. Analytical Ratios            
(i) % of shares held by Government of India 0% 0% 0% 0% 0% 0%
(ii) Capital Adequacy Ratio-Basel II 14.40% 12.58% 13.08% 14.40% 13.08% 12.77%
Capital Adequacy Ratio-Basel III 14.41% 12.49% 12.81% 14.41% 12.81% 12.60%
(iii) Earnings per share (EPS)             
a) Basic EPS before and after extraordinary items (not to be annualized) 7.94 11.38 7.73 18.64 18.95 40.08
b) Diluted EPS before and after extraordinary items (not to be annualized) 7.46 11.30 7.67 17.51 18.81 39.78
(iv) NPA Ratios            
a) Gross NPA 48074 45096 49486 48074 49486 27918
b) Net NPA 20759 18248 16134 20759 16134 13991
c) % of Gross NPA 1.36% 1.30% 1.55% 1.36% 1.55% 0.82%
d) % of Net NPA 0.59% 0.53% 0.51% 0.59% 0.51% 0.41%
e) Return on Asset(annualized) 0.69% 0.94% 0.66% 0.81% 0.82% 0.86%
18. Public Shareholding            
Number of Shares 118174781 104605801 103902862 118174781 103902862 103954269
% of Shareholding 97.78% 97.49% 96.94% 97.78% 96.94% 96.99%
19. Promoters and Promoter Group Shareholding  
a) Pledged / Encumbered            
-Number of Shares 302763 285763 432153 302763 432153 320343
-Percentage of Shares (as  a % of the total shareholding of promoter and promoter group) 11.26% 10.63% 13.18% 11.26% 13.18% 9.93%
 -Percentage of Shares (as a % of the total share capital of the Company) 0.25% 0.27% 0.40% 0.25% 0.40% 0.30%
b) Non - encumbered            
- Number of Shares 2385065 2402165 2846091 2385065 2846091 2906494
- Percentage of Shares (as a % of the total shareholding  of the Promoter and  Promoter group) 88.74% 89.37% 86.82% 88.74% 86.82% 90.07%
-Percentage of Shares (as a % of the total share capital of the company) 1.97% 2.24% 2.66% 1.97% 2.66% 2.71%

 


Statement of Assets and Liabilities as on 30th September 2014

(Rs. In lakhs)

Capital and Liabilities As on 30.09.2014 As on 30.09.2013 As on 31.03.2014
Capital 12086 10718 10718
Reserve and Surplus 404298 319443 321916
Deposits 4486164 4337195 4375768
Borrowings 376301 257220 329331
Other Liabilities and Provision 108462 86299 116582
Total 5387311 5010875 5154315
Assets
Cash & Balances with RBI 234907 236843 254620
Balances with Banks and Money at Call 14108 11626 13203
Investments 1452532 1456566 1324700
Advances 3511850 3147442 3399213
Fixed Assets 39673 35314 38470
Other Assets 134241 123084 124109
Total 5387311 5010875 5154315

 


Segment Reporting for the period ended 30th September 2014

Business Segments 3 Months ended  Half Year Ended Year ended 
30-Sep-14 30-Jun-14 30-Sep-13 30-Sep-14 30-Sep-13 31-Mar-14
Reviewed Reviewed Audited
Segment Revenue
1. Treasury Operations 32675 31165 32707 63840 72312 134995
2. Corporate/Wholesale Banking Operations 39896 39189 35920 79085 71457 149463
3. Retail Banking Operations 76713 75640 69031 152353 136364 282266
4. Other Banking Operations 201 250 231 451 703 1317
Total 149485 146244 137889 295729 280836 568041
Segment Results
1. Treasury Operations 5956 3001 3859 8957 18464 23886
2. Corporate/Wholesale Banking Operations 9377 7419 6699 16796 14550 29303
3. Retail Banking Operations 19878 16725 13922 36603 30125 61315
4. Other Banking Operations 187 231 216 418 670 1239
Total 35398 27376 24696 62774 63809 115743
 
Unallocated Income/Expenses 14687 6027 9015 20714 16256 31964
Operating Profit 20711 21349 15681 42060 47553 83779
Income Taxes 2350 500 -4455 2850 -929 -3412
Other Provisions 9311 8642 11847 17953 28163 44231
Net Profit 9050 12207 8289 21257 20319 42960

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Other Information

Segment Assets 3 Months ended  Half Year Ended Year ended 
30-Sep-14 30-Jun-14 30-Sep-13 30-Sep-14 30-Sep-13 31-Mar-14
Reviewed Reviewed Audited
1. Treasury Operations 1453326 1380228 1457300 1453326 1457300 1327749
2. Corporate/Wholesale Banking Operations 1309579 1252736 1164687 1309579 1164687 1272730
3. Retail Banking Operations 2202271 2175098 1982755 2202271 1982755 2126483
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Assets  422135 427667 406133 422135 406133 427353
Total 5387311 5235729 5010875 5387311 5010875 5154315
Segment Liabilities 
1. Treasury Operations 1529042 1371824 1466130 1529042 1466130 1361001
2. Corporate/Wholesale Banking Operations 1145881 1143454 1054029 1145881 1054029 1150919
3. Retail Banking Operations 1926928 1984918 1794661 1926928 1794661 1923325
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Liabilities 369076 390390 367822 369076 367822 386436
 
Capital Employed  416384 345143 328233 416384 328233 332634
Total Liabilities 5387311 5235729 5010875 5387311 5010875 5154315

 


GEOGRAPHIC SEGMENTS: The Bank operates only in Domestic segment.


Notes:

1)The above financial results for the period ended 30th September,2014 reviewed by the Audit Committee of the Board and  approved by the Board of Directors at their meeting held on 6th November, 2014. The same has been subjected to limited review by the Statutory Central Auditors of the Bank.


2) There has been no change in the accounting policies followed during the period  ended 30th September, 2014 as compared to those followed in the preceding financial year ended 31st March 2014.


3) The financial results for the quarter ended 30th September 2014 have been arrived after considering provision for non performing assets, depreciation on investments  on actual basis. The depreciation on fixed assets has been provided on proportionate basis, as per the method adopted in the previous year.Provision for employees benefits, income tax and other contingencies are on an estimated on proportionate basis and are subject to adjustment at the year end.


4) In terms of the Reserve Bank of India circular DBOD.No.BP.BC.80/21.4.018/2010-11 dated 9th February 2011 on amortization of expenses towards pension and gratuity liabilities, a proportionate sum of Rs.4.23 crore has been provided for the quarter ended 30th September 2014 out of Rs16.90 crore to be provided for the financial year ending 31st March 2015.


5) In accordance with RBI guidelines, Bank has shifted Securities from AFS to HTM category amounting to Rs.536.21 crore during the first quarter of the half year and the resultant depreciation of Rs. 44.48 crore has been charged to Profit and Loss account.


6) In terms of RBI Circular DBOD.No.BP.BC.2/21.06.201/2013-14 dated 1st July 2013, banks are required to  make half yearly  Pillar 3 disclosure under Basel III capital requirements with effect from 30th September 2013. The disclosures have been  available on the website of the bank which can be accessed at the link http://www.kvb.co.in/footer/pillarIII_disclosures.html. These disclosures have not been subjected to limited review by the Satutory Central Auditors of the bank.


7) During the quarter ended 30.09.2014, the Bank has issued  13412015  shares having a face value of Rs.10/- at a premium of Rs.466  as Qualified investors Placement with necessary approval from SEBI  and  The expenses of QIP issue of Rs 7.40  Crores is netted off against the share premium.


8) During the quarter ended 30.09.2014, Non performing Financial assets aggregating to Rs.7.79  crore(net of provisions) were assigned to Asset Reconstruction Company(s) for an aggregate consideration of Rs.10.60 crore.


9) During the quarter ended 30th Sep 2014, the Bank had allotted  156865 shares persuant to the exercise of stock options by certain employees


10) Details of Investor Complaints for the quarter ended 30th September 2014
   i) Pending at the beginning of the quarter: 0 ,
   ii) Received during the quarter : 6 ,
   iii) Redressed during the quarter : 6,
   iv) Pending at end of the quarter : 0,


11) Provision Coverage Ratio is 75.02% as on 30.09.2014


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:06.11.2014

-sd/-

K.Venkataraman

Managing Director& C.E.O

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"As per our report of even date"

For Abarna & Ananthan
Chartered Accountants
Firm Registration No.000003S

Sd/-
Lalitha Rameswaran
Partner
Membership No. 207867

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