Reviewed Financial Results for the Quarter/Nine
Months ended 31st December 2013

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REVIEWED FINANCIAL RESULTS FOR QUARTER /
NINE MONTHS ENDED 31st DECEMBER 2013
(Rs. in lakhs)
Particulars 3 Months ended Nine Months Ended Year ended
31-Dec-13 30-Sep-13 31-Dec-12 31-Dec-13 31-Dec-12 31-Mar-13
  Reviewed Reviewed Audited
1. Interest earned (a)+(b)+(c)+(d) 129800 127269 107210 379322 311628 424243
a) Interest / discount
on advances /bills
99208 95656 83126 286936 240249 327436
b) Income on Investments 30448 31150 23820 89652 70063 95035
c) Interest on balances
with RBI and other
interbank funds
87 124 260 329 1257 1620
d) Others 57 339 4 2405 59 152
2. Other Income 10561 10620 10549 41874 29476 45256
3. Total Income (1+2) 140361 137889 117759 421196 341104 469499
4. Interest Expended 99289 97431 76366 285785 226813 308396
5. Operating Expenses
(i+ii)
25775 24777 20194 72561 53394 76220
(I) Employees cost 14065 13154 8606 37996 24342 34362
(ii) Other operating expenses 11710 11623 11588 34565 29052 41858,
6. Total Expenditure
(4+5) excluding
provision and contingencies
125064 122208 96560 358346 280207 384616
7. Operating Profit
before Provisions and
Contingencies (3-6)
15297 15681 21199 62850 60897 84883
8. Provisions
(other than tax) and
Contingencies
5065 11847 6522 33228 3463 12339
9. Exceptional items 0 0 0 0 0 0
10. Profit /(Loss)
from Ordinary
activities
before tax (7-8-9)
10232 3834 14677 29622 57434 72544
11.Tax expense -450 -4455 3373 -1379 18260 17512
12. Net Profit from
ordinary activities after
tax(10-11)
10682 8289 11304 31001 39174 55032
13.Extraordinary
items (net of tax expense)
0 0 0 0 0 0
14.Net Profit
for the period
(12-13)
10682 8289 11304 31001 39174 55032
15.Paid-up equity
share capital
(FV Rs.10/-)
10718 10718 10718 10718 10718 10718
16.Reserves excluding
Revaluation Reserve
(as per balance sheet
of previous accounting
year)
297801 297801 260104 297801 260104 297801
17. Analytical Ratios        

_

 
(i) % of shares held
by Government of
India
0% 0% 0% 0% 0% 0%
(ii) Capital Adequacy
Ratio-Basel II
12.73% 13.08% 13.36% 12.73% 13.36% 14.41%
Capital Adequacy
Ratio-Basel III
12.50% 12.81%

N.A

12.50%

N.A

N.A

(iii) Earnings per share (EPS)            
a)Basic EPS before
and after extraordinary
items not annualized)
9.97 7.73 10.55 28.92 36.55 51.35
b) Diluted EPS before and
after extraordinary
items (not annualized)
9.89 7.67 10.55 28.70 36.55 50.94
(iv) NPA Ratios            
a) Gross NPA 48493 49486 35320 48493 35320 28586
b) Net NPA 15815 16134 10179 15815 10179 10874
c) % of Gross NPA 1.47% 1.55% 1.29% 1.47% 1.29% 0.96%
d) % of Net NPA 0.48% 0.51% 0.38% 0.48% 0.38% 0.37%
e) Return on Asset(annualized) 0.85% 0.66% 1.10% 0.83% 1.32% 1.35%
18. Public Shareholding            
Number of Shares 103917479 103902862 103883321 103917479 103883321 103878383
% of Shareholding 96.96% 96.94% 96.92% 96.96% 96.92% 96.92%

19. Promoters and Promoter Group
Shareholding

 
a) Pledged / Encumbered            
-Number of Shares 415213 432153 518378 415213 518378 461028
-Percentage of Shares (as a % of the
total shareholding
of promoter and
promoter group)
12.72% 13.18% 15.72% 12.72% 15.72% 13.96%
-Percentage of Shares (as a % of the total
share capital of the Company)
0.39% 0.40% 0.48% 0.39% 0.48% 0.43%
             
b) Non - encumbered            
- Number of Shares 2848414 2846091 2779407 2848414 2779407 2841695
- Percentage of Shares (as a % of the
total shareholding of
the Promoter and
Promoter group)
87.28% 86.82% 84.28% 87.28% 84.28% 86.04%
-Percentage of Shares
(as a % of the
total share capital of the company)
2.65% 2.66% 2.60% 2.65% 2.60% 2.65%

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Segment Reporting for the period ended 31st December 2013

Business Segments 3 Months ended Nine Months Ended Year ended
31-Dec-13 30-Sep-13 31-Dec-12 31-Dec-13 31-Dec-12 31-Mar-13
  Reviewed Reviewed Audited
Segment Revenue            
1. Treasury Operations 31127 32707 26108 103439 76475, 107619
2. Corporate/
Wholesale Banking Operations
37086 35920 30874 108543 91583 124894
3. Retail Banking Operations 71892 69031 60151 208256 171675 235110
4. Other Banking Operations 256 231 626 958 1371 1876
Total 140361 137889 117759 421196 341104 469499
Segment Results            
1. Treasury Operations 2064 3859 5520 20528 14004 22081
2. Corporate/
Wholesale Banking Operations
6321 6699 6225 20871 18931 25750
3. Retail Banking Operations 14940 13922 15507 45065 46679 63301
4. Other Banking Operations 238 216 610 908 1333 1815
Total 23563 24696 27862 87372 80947 112947
             
Unallocated Income
/Expenses
8266 9015 6663 24522 20050 28064
Operating Profit 15297 15681 21199 62850 60897 84883
Income Taxes -450 -4455 3373 -1379 18260 17512
Other Provisions 5065 11847 6522 33228 3463 12339
Net Profit 10682 8289 11304 31001 39174 55032

Other Information

Segment Assets 3 Months ended Nine Months Ended Year ended
31-Dec-13 30-Sep-13 31-Dec-12 31-Dec-13 31-Dec-12 31-Mar-13
Reviewed Reviewed Audited
1. Treasury Operations 1329867 1457300 1119903 1329867 1119903 1390470
2. Corporate/
Wholesale Banking Operations
1241084 1164687 1000807 1241084 1000807 1118073
3. Retail Banking Operations 2027477 1982755 1702984 2027477 1702984 1829940
4. Other Banking
Operations
0 0 0 0 0 0
5. Unallocated Assets 420808 406133 349878 420808 349878 334851
Total 5019236 5010875 4173572 5019236 4173572 4673334
Segment Liabilities            
1. Treasury Operations 1336500 1466130 1093798 1336500 1093798 1487313
2. Corporate/
Wholesale Banking Operations
1124351 1054029 907739 1124351 907739 979784
3. Retail Banking
Operations
1836333 1794661 1544444 1836333 1544444 1604028
4. Other Banking
Operations
0 0 0 0 0  
5. Unallocated Liabilities 380997 367822 317595 380997 317595 293690
             
Capital Employed 341055 328233 309996 341055 309996 308519
Total Liabilities 5019236 5010875 4173572 5019236 4173572 4673334

GEOGRAPHIC SEGMENTS: The Bank operates only in Domestic segment.

Notes:
1) The above financial results for the period ended December 31,2013 reviewed by the Audit Committee of the Board have been approved by the Board of Directors at their meeting held on January 29, 2014 and subjected to limited review by the Statutory Central Auditor.


2) There has been no change in the accounting policies followed during the quarter ended December 31, 2013 as compared to those followed in the preceding financial year ended 31st March 2013.


3) The financial results for the quarter ended 31st December 2013 have been arrived after considering provision for non performing assets, depreciation on investments and fixed assets on actual basis. Provision for employees benefits, income tax and other contingencies are on an estimated and 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 31st December 2013 out of Rs16.92 crore to be provided for the financial year ending 31st March 2014.


5) In terms of RBI circular DBOD No.BP.BC.88/21.06.201/2012-13 dated 28.03.2013, banks have been advised to disclose capital adequcy ratio computed under Base! III regulations from quarter ended 30th June 2013. Accordingly, corresponding details for the previous year / period are not furnished.


6) In terms of RBI circular DBOD.BP.BC.No.41/21.04.141/2013-14 dated August 23,2013 on "Investment portfolio of banks-Classification,Valuation and Provisioning", the Bank has opted to amortise the depreciation on Available for Sale (AFS) and Held For Trading (HFT) portfolios on each of the valuation dates in the current financial year in equal installments during the financial year 2013-14. Accordingly, of the total depreciation of Rs.204.14 crore as at December 31, 2013, the bank has recognised an amount of Rs.79.28 crore for the current quarter (Rs.112.40 crore for the period ended) in the profit & loss account


7) 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 auditors of the bank.


8) Details of Investor Complaints for the quarter ended 31st December 2013

The number of investor complaints received during the quarter were 9 and all have been disposed off.

9) Provision Coverage Ratio is 75.14% as on 31.12.2013


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


For and on behalf of Board of Directors

Place: Karur


Date:29.01.2014

-sd/-

K.Venkataraman

Managing Director& C.E.O

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"As per our report of even date"

For R K Kumar & Co.,
Chartered Accountants
Firm Registration No.001595S

Sd/-
C.R.Sundararajan
Partner
Membership No.025400

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