KARNATAKA BANK LTD ,
REGD & HEAD OFFICE : MANGALORE 575002
UNAUDITED QUARTERLY FINANCIAL RESULTS FOR THE QUARTER ENDED 30.09.2010
Rs in lakh
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UNAUDITED |
AUDITED |
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Quarter ended |
Half year ended |
Year Ended |
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30.09.2010 |
30.09.2009 |
30.09.2010 |
30.09.2009 |
31.03.2010 |
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1 |
Interest Earned (a+b+c+d)
|
57184 |
49437 |
111647 |
97165 |
204342 |
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a) |
Interest/Discount on advances/bills |
39662 |
32327 |
78029 |
65506 |
138898 |
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b) |
Income on Investments |
16698 |
17095 |
32686 |
31595 |
63346 |
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c) |
Interest on balances with Reserve Bank of India and other inter bank funds |
11 |
13 |
38 |
49 |
58 |
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d) |
Others |
814 |
2 |
894 |
15 |
2040 |
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2 |
Other Income |
6360 |
5354 |
13227 |
18593 |
31126 |
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3 |
TOTAL INCOME (1+2) |
63544 |
54791 |
124874 |
115758 |
235468 |
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4 |
Interest expended |
43275 |
43895 |
85792 |
86969 |
170779 |
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5 |
Operating expenses (i+ii) |
12711 |
10234 |
23971 |
18959 |
38605 |
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i) |
Employees Cost |
7173 |
5308 |
14015 |
10405 |
20680 |
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ii)
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Other operating expenses
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5538 |
4926 |
9956 |
8554 |
17925 |
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6 |
TOTAL EXPENDITURE ((4+5) excluding provisions & Contingencies) |
55986 |
54129 |
109763 |
105928 |
209384 |
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7 |
Operating Profit before provisions & contingencies (3-6) |
7558 |
662 |
15111 |
9830 |
26084 |
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8 |
Provisions (other than tax) and Contingencies |
5768 |
524 |
7183 |
2274 |
7108 |
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9 |
Exceptional Items |
0 |
0 |
0 |
0 |
0 |
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10 |
Profit (+)/Loss (-) from Ordinary Activities before tax (7-8-9) |
1790 |
138 |
7928 |
7556 |
18976 |
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11 |
Tax Expense |
-1082 |
-1497 |
408 |
1915 |
2264 |
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12 |
Net Profit (+)/Loss (-) from Ordinary activities after Tax (10-11) |
2872 |
1635 |
7520 |
5641 |
16712 |
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13 |
Extraordinary Items (net of tax expense) |
0 |
0 |
0 |
0 |
0 |
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14 |
Net Profit (+)/Loss (-) for the period (12-13) |
2872 |
1635 |
7520 |
5641 |
16712 |
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15 |
Paid up equity share capital(Face Value Rs 10/-) |
13421 |
12162 |
13421 |
12162 |
13399 |
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16 |
Reserves excluding revaluation reserves (as per balance sheet of previous accounting year) |
- |
- |
- |
- |
169876 |
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17 |
Analytical Ratios |
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i) |
Percentage of shares held by Government of India |
Nil |
Nil |
Nil |
Nil |
Nil |
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ii) |
Capital Adequacy Ratio (%)i) Basel –I ii) Basel - II |
11.41 11.71 |
12.55 12.93 |
11.41 11.71 |
12.55 12.93 |
11.85 12.37 |
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iii) |
Earning per share (EPS) (Rs)a) Basic EPS b) Diluted EPS before Extraordinary items (net of Tax expense) b) ) Basic EPS Diluted EPS after Extraordinary items (net of Tax expense) * Not Annualised
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2.14* 2.14*
2.14* 2.14*
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1.34* 1.34*
1.34* 1.34* |
5.61* 5.61*
5.61* 5.61*
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4.64* 4.62*
4.64* 4.62* |
13.50 13.45
13.50 13.45 |
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iv) |
NPA Ratios as on datea) Gross NPA Net NPA b) % of Gross NPA % of Net NPA c) Return on Assets-
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58738 17274 3.66 1.11 0.20 |
49360 16706 3.86 1.34 0.14
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58738 17274 3.66 1.11 0.54 |
49360 16706 3.86 1.34 0.46 |
54964 18861 3.73 1.31 0.67 |
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18 |
Public Shareholding -No of Shares -Percentage of Share holding |
134199212 100% |
121609178 100% |
134199212 100% |
121609178 100% |
133976322 100% |
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19 |
Promoters and Promoter group shareholding a) Pledged /encumbered -Number of shares - Percentage of shares(as a % of the total shareholding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the company.
b) Non-encumbered -Number of shares - Percentage of shares(as a % of the total shareholding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the company.
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NA
NA
NA
NA
NA
NA |
NA
NA
NA
NA
NA
NA |
NA
NA
NA
NA
NA
NA |
NA
NA
NA
NA
NA
NA |
NA
NA
NA
NA
NA
NA |
Notes:
1. The above financial results for the quarter ended 30th September 2010 have been reviewed by the Audit Committee and approved by the Board in the meeting held on 15TH Ocotober 2010.
2. To the extent applicable to the interim financial reporting, the Bank has consistently followed the same accounting policies followed for the preparation of audited financials for the year ended March 31, 2010 which have been subjected to Limited Review by the Central Statutory Auditors.
3. The above results have been arrived at after considering usual and necessary provisions as per RBI guidelines and in accordance with Income Tax Act and applicable Accounting Standards.
4. The Working results for the quarter ended September 30, 2010 have been arrived at after considering provision for loan losses, depreciation on investments and fixed assets on actual basis. The bank has made provisions for various employee benefits like pension, gratuity, etc on an estimated basis. The impact of additional liability on (i) pension benefits arising on account of the 9th Bipartite settlement and (ii) the amendment made to the Payment of Gratuity Act, 1972 has been estimated and amortized over a period of 5 years on pro-rata basis. Provision for Income-tax and other contingencies are on an estimated basis subject to adjustment if any.
5. The Bank has implemented the decision taken at the meeting of State Level Bankers’ Committee (SLBC), Karnataka held on 29.09.2010 to restructure eligible advances under Coffee Debt Relief Package 2010 and treat them as Standard assets pending receipt of clarifications /directions from Reserve Bank of India in this regard.
6. The Bank has identified four business segments viz Treasury, Corporate and wholesale banking, Retail Banking and Other Banking operations. The Geographic Segments consist of the Domestic Segment only as the Bank does not have any foreign branch. The segment results are annexed.
7. Status of the shareholders complaints is as under:
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Complaints pending at the beginning of the quarter |
Complaints received during the quarter |
Complaints redressed during the quarter |
Complaints pending at the end of the quarter |
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Nil |
45 |
45 |
Nil |
8. Corresponding previous period figures have been regrouped / rearranged wherever necessary.
By order of the Board
Place: Bangalore
Date: 15th October 2010 P Jayarama Bhat
Managing Director & C.E.O.
SUMMARY BALANCE SHEET AS ON 30th SEPTEMBER 2010 Rs in lakhs
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As on |
As on |
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30.09.2010 |
30.09.2009 |
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CAPITAL AND LIABILITIES |
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Capital |
13421 |
12162 |
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Reserves and Surplus |
177590 |
150479 |
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Deposits |
2504531 |
2158212 |
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Borrowings |
91725 |
40044 |
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Other Liabilities and Provisions |
72722 |
62040 |
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TOTAL |
2859989 |
2422937 |
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ASSETS |
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Cash and balances with Reserve Bank of India |
177483 |
128614 |
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Balances with Banks and Money at Call & Short Notice |
4075 |
5908 |
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Investments |
1043504 |
970032 |
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Advances |
1568307 |
1248703 |
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Fixed Assets |
14608 |
14258 |
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Other Assets |
52012 |
55422 |
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TOTAL |
2859989 |
2422937 |
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Contingent Liabilities |
928660 |
951287 |
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Bills for collection |
124449 |
107106 |
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Segment wise Results for the quarter ended 30.09.2010 Rs in Lakhs
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year ended |
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Business Segments |
3 months ended 30.09.2010 |
3 months ended 30.09.2009 |
6 months ended 30.09.2010 |
6 months ended 30.09.2009 |
Audited 31.03.2010 |
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Segment Revenue |
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Treasury |
18805 |
19282 |
37116 |
44020 |
80829 |
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Corporate /Wholesale Banking |
21985 |
16871 |
42912 |
33799 |
66129 |
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Retail Banking |
21529 |
17807 |
41837 |
35947 |
83941 |
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Other Banking Operations |
1225 |
831 |
3009 |
1992 |
4569 |
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Total |
63544 |
54791 |
124874 |
115758 |
235468 |
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Segment Results |
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Treasury |
-4902 |
-2668 |
-6979 |
-1364 |
-7768 |
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Corporate /Wholesale Banking |
564 |
-1155 |
1811 |
-590 |
-5135 |
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Retail Banking |
5712 |
3833 |
11758 |
8891 |
30314 |
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Other Banking Operations |
965 |
679 |
2438 |
1684 |
3788 |
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Total |
2339 |
689 |
9028 |
8621 |
21199 |
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Unallocable expenses |
549 |
551 |
1100 |
1065 |
2223 |
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Profit before tax |
1790 |
138 |
7928 |
7556 |
18976 |
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Capital Employed |
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(a)Treasury Operations |
86871 |
79441 |
86871 |
79441 |
85826 |
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(b)Corporate Banking |
60381 |
50076 |
60381 |
50076 |
59464 |
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(c)Retail Banking |
43725 |
33107 |
43725 |
33107 |
37934 |
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(d) Other Banking Operations |
37 |
17 |
37 |
17 |
51 |
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Total |
191014 |
162641 |
191014 |
162641 |
183275 |
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Part B - Geographic Segments |
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There is only one segment i.e. Domestic segmment |
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"The Karnataka Bank Limited is proposing, subject to receipt of requisite of approvals, market conditions and other considerations, a right issue of its equity shares and to file a Draft Letter of Offer with the Securities and Exchange Board of India".