REVIEWED FINANCIAL RESULTS FOR QUARTER / NINE MONTHS ENDED 31st DECEMBER 2014

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(Rs. In lakhs)

Particulars 3 Months ended  Nine Months Ended Year ended
31-Dec-14 30-Sep-14 31-Dec-13 31-Dec-14 31-Dec-13 31-Mar-14
  Reviewed Reviewed Audited
1.Interest earned (a)+(b)+(c)+(d) 406805 135890 129800 406805 379322 511596
a) Interest / discount on advances  /bills 316685 105199 99208 316685 286936 387200
 b) Income on Investments 89506 30608 30448 89506 89652 119738
c) Interest on balances with RBI and other interbank funds 570 57 87 570 329 1092
d) Others 44 26 57 44 2405 3566
2. Other Income 40105 13596 10561 40105 41874 56445
3. Total Income (1+2) 446910 149486 140361 446910 421196 568041
4. Interest Expended 299953 102148 99289 299953 285785 383226
5. Operating Expenses (i+ii) 78628 26627 25775 78628 72561 101036
(i) Employees cost 38929 12675 14065 38929 37996 52792
(ii) Other operating expenses 39699 13952 11710 39699 34565 48244
6. Total Expenditure (4+5) excluding provision and contigencies 378581 128775 125064 378581 358346 484262
7. Operating Profit before Provisions and Contingencies (3-6) 68329 20711 15297 68329 62850 83779
8. Provisions (other than tax) and Contingencies 28568 9311 5065 28568 33228 44231
9. Exceptional items 0 0 0 0 0 0
10. Profit /(Loss) from Ordinary activities before tax (7-8-9) 39761 11400 10232 39761 29622 39548
11.Tax expense 7116 2350 -450 7116 -1379 -3412
12.Net Profit from ordinary activities after tax(10-11) 32645 9050 10682 32645 31001 42960
13.Extraordinary items (net of tax expense) 0 0 0 0 0 0
14.Net Profit for the period (12-13) 32645 9050 10682 32645 31001 42960
15.Paid-up equity share capital (FV Rs.10/-) 12098 12086 10718 12098 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 13.98% 14.40% 12.73% 13.98% 12.73% 12.77%
Capital Adequacy Ratio-Basel III 14.01% 14.41% 12.50% 14.01% 12.50% 12.60%
(iii) Earnings per share (EPS) 
a)Basic EPS before and after extraordinary items (not annualized) 10.26 7.94 9.97 28.90 28.92 40.08
b) Diluted EPS before and after extraordinary items (not annualized) 10.22 7.46 9.89 28.77 28.70 39.78
(iv) NPA Ratios
a) Gross NPA 68010 48074 48493 68010 48493 27918
b) Net NPA 25661 20759 15815 25661 15815 13991
c) % of Gross NPA 1.91% 1.36% 1.47% 1.91% 1.47% 0.82%
d) % of Net NPA 0.73% 0.59% 0.48% 0.73% 0.48% 0.41%
e) Return on Asset(annualized) 0.85% 0.69% 0.85% 0.82% 0.83% 0.86%
18. Public Shareholding
Number of Shares 118350527 118174781 103917479 118350527 103917479 103954269
% of Shareholding 97.82% 97.78% 96.96% 97.82% 96.96% 96.99%
 
Particulars 3 Months ended  Nine Months Ended Year ended
19. Promoters and Promoter Group Shareholding  
  a) Pledged / Encumbered
-Number of Shares 230163 302763 415213 230163 415213 320343
-Percentage of Shares (as  a % of the total shareholding ofpromoter and promoter group) 8.74% 11.26% 12.72% 8.74% 12.72% 9.93%
 -Percentage of Shares (as a % of the total share capital of the Company) 0.19% 0.25% 0.39% 0.19% 0.39% 0.30%
 
  b) Non - encumbered
- Number of Shares 2403834 2385065 2848414 2403834 2848414 2906494
- Percentage of Shares (as a % of the total shareholding of the Promoter and  Promoter group) 91.26% 88.74% 87.28% 91.26% 87.28% 90.07%
-Percentage of Shares (as a % of the total share capital of the company) 1.99% 1.97% 2.65% 1.99% 2.65% 2.71%

 


Statement of Assets and Liabilities as on 31st December 2014

(Rs. In lakhs)

Business Segments 3 Months ended  Nine Months Ended Year ended 
31-Dec-14 30-Sep-14 31-Dec-13 31-Dec-14 31-Dec-13 31-Mar-14
Reviewed Reviewed Audited
Segment Revenue
1. Treasury Operations 97379 32675 31127 97379 103439 134995
2. Corporate/Wholesale Banking Operations 119661 39896 37086 119661 108543 149463
3. Retail Banking Operations 229194 76713 71892 229194 208256 282266
4. Other Banking Operations 675 201 256 676 958 1317
Total 446909 149485 140361 446910 421196 568041
 
Segment Results
1. Treasury Operations 15926 5956 2064 15926 20528 23886
2. Corporate/Wholesale Banking Operations 25533 9377 6321 25533 20871 29303
3. Retail Banking Operations 43839 19878 14940 43839 45065 61315
4. Other Banking Operations 625 187 238 625 908 1239
Total 85923 35398 23563 85923 87372 115743
 
Unallocated Income/Expenses 17594 14687 8266 17594 24522 31964
Operating Profit 68329 20711 15297 68329 62850 83779
Income Taxes 7116 2350 -450 7116 -1379 -3412
Other Provisions 28568 9311 5065 28568 33228 44231
Net Profit 32645 9050 10682 32645 31001 42960
 
Other Information
Segment Assets 3 Months ended Nine Months Ended Year ended
31-Dec-14 30-Sep-14 31-Dec-13 31-Dec-14 31-Dec-13 31-Mar-14
Reviewed Reviewed Audited
1. Treasury Operations 1420552 1453326 1329867 1420552 1329867 1327749
2. Corporate/Wholesale Banking Operations 1321628 1309579 1241084 1321628 1241084 1272730
3. Retail Banking Operations 2196859 2202271 2027477 2196859 2027477 2126483
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Assets  401202 422135 420808 401202 420808 427353
Total 5340241 5387311 5019236 5340241 5019236 5154315
Segment Liabilities 
1. Treasury Operations 1401004 1529042 1336500 1401004 1336500 1361001
2. Corporate/Wholesale Banking Operations 1183930 1145881 1124351 1183930 1124351 1150919
3. Retail Banking Operations 1967955 1926928 1836333 1967955 1836333 1923325
4. Other Banking Operations 0 0 0 0 0 0
5. Unallocated Liabilities 359245 369076 380997 359245 380997 386436
 
Capital Employed  428107 416384 341055 428107 341055 332634
Total Liabilities 5340241 5387311 5019236 5340241 5019236 5154315

 


 


GEOGRAPHIC SEGMENTS:The Bank operates only in Domestic segment.


Notes:

1) The above financial results for the period ended December 31,2014 reviewed by the Audit Committee of the Board and approved by the Board of Directors at their meeting held on January 29, 2015 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 quarter ended December 31, 2014 as compared to those followed in the preceding financial year ended 31st March 2014.


3) The financial results for the quarter ended 31st December 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 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 2014 out of Rs16.90 crore to be provided for the financial year ending 31st March 2015.


5) During the quarter ended 31st December 2014, the bank had alloted 121915 shares persuant to the exercise of stock options by certain employees.


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) During the quarter ended on 30.09.2014, the Bank 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 was netted off against the share premium.


8) Details of Investor Complaints for the quarter ended 31st December 2014
The number of investor compalints received during the quarter were 2 and all have been disposed off.


9) Provision Coverage Ratio is 75.09% as on 31.12.2014


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:29.01.2015

-sd/-

K.Venkataraman

Managing Director& C.E.O

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