Gulf Bank K.S.C. · KSE:GBK

Gulf Bank K.S.C — Gulf Bank — Investor Presentation (February 2019)

15 slides from Gulf Bank K.S.C's investor presentation, February 2019

  1. Slide 1: Gulf Bank Investor Presentation Year-End 2018

    Gulf Bank Investor Presentation Year- End 2018 February 2019

  2. Slide 2: Disclaimer

    Disclaimer THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AT AN INVESTOR PRESENTATION AND IS PROVIDED AS INFORMATION ONLY. THIS PRESENTATION DOES N

  3. Slide 3: Net profit up 18%, fifth straight year of double digit growth

    1. Net profit up 18%, fifth straight year of double digit net profit growth. 60 57 50 48 +18% 43 40 39 +12% 36 32 KD Million +10% 30 +10% 13 20 +10% 10 - 2013 2014 2015 2016 2017 2018 3

  4. Slide 4: Earnings per share up to 20 fils; dividend of 10 fils recommended

    2. Earnings per share up to 20 fils. Recommending dividend of 10 fils per share (51% payout ratio) 25 20 20 17 15 15 13 Fils 10 12 5 9 10 7 0 4 0 2014 2015 2016 2017 2018 DPS EPS Payout 0% 47% 55% 31% 51% Ratio 4

  5. Slide 5: Customer loans reached an all-time high of KD 4.2 billion

    3. Customer Loans have reached an all-time high of KD 4.2 billion + 488 5,100 (+ 13%) +184 +304 (+5%) 4,244 4,060 4,100 3,756 (+8%) KD Million Growth over last 2 years KD Million 3,100 2,787 2,509 2,749 Corporate 278 57% 2,100 Consumer 210 43% 488 100% 1,100 1,247 1,310 1,457 100 2016 2017 2018 Cons

  6. Slide 6: Non-performing loan ratio reached an all-time low of 1%

    4. Non-Performing Loan ratio reached an all-time low of 1% 1400 35.0% 1200 30.3% 30.0% 1000 25.0% KD Million 800 20.0% 18.7% 600 14.4% 15.0% 400 10.4% 10.0% 6.5% 200 3.2% 5.0% 2.6% 2.4% 1.7% 1.0% 0 0.0% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 NPL NPL Ratio 6

  7. Slide 7: Achieved 'A' ratings from all four major credit rating agencies

    5. Achieved `A` ratings from all four major credit rating agencies. 2013 2014 2015 2016 2017 2018 Long Term Baa2 Baa1 A3 A3 A3 A3 Outlook Positive Positive Stable Stable Stable Positive Long Term BBB+ BBB+ A- A- A- A- Outlook Positive Positive Stable Stable Positive Stable Long Term A+ A+ A+ A+ A+ A

  8. Slide 8: diane as > GULF BANK @alsll clis GULF BANK

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  9. Slide 9: 2018 Key Messages

    2018 Key Messages 1. Net profit up 18%, fifth straight year of double digit net profit growth. 2. Earnings per share up to 20 fils. Recommending dividend of 10 fils per share (51% payout ratio). 3. Customer Loans have reached an all-time high of KD 4.2 billion. 4. Non-Performing Loan ratio reached a

  10. Slide 10: Balance Sheet

    Balance Sheet KD Millions 31-Dec-17 % of Total 31-Dec-18 % of Total 31-Dec-18 vs 31-Dec-17 ASSETS 1 Cash and cash equivalents 475 8% 742 12% 267 56% 2 Kuwait Government Bonds 567 10% 396 7% (171) -30% 3 CBK Bills 395 7% 322 5% (73) -18% 4 Deposits with banks and OFIs 39 1% 157 3% 118 301% 5 Liquid A

  11. Slide 11: Liquidity Ratios

    Liquidity Ratios Liquidity Coverage Ratio NSFR 400% 351% 350% 140% 325% 120% 300% 120% Minimum 107% 100% 250% 100% 200% 80% 150% 60% Minimum 100% (1 Jan 2019) 100% 40% 50% 20% 2017 2018 2017 2018 Average Daily Ratios Year Ending Ratios 11

  12. Slide 12: Income Statement

    Income Statement % of Avg. KD Millions 2016 16 vs 15 2017 17 vs 16 2018 % of Avg. Assets 18 Vs 17 Assets 1 Interest Income 180 7% 206 15% 3.7% 243 4.2% 18% 2 Interest Expense (63) 30% (74) 17% -1.3% (90) -1.5% 22% 3 Net Interest Income 117 -2% 132 13% 2.36% 153 2.61% 15% 4 Fees/ FX 41 5% 40 -2% 0.7%

  13. Slide 13: Regulatory Capital Ratios

    Regulatory Capital Ratios Tier 1 Capital (KWD mil) Risk Weighted Assets (KWD mil) 4,500 650 14.2% 14.1% 14.0% 4,450 4,466 629 4,400 600 601 13.0% 4,350 KD Million 550 +5% 12.0% Minimum 4,300 +6% 12% 4,250 500 11.0% 4,200 4,226 4,150 450 10.0% 2017 2018 4,100 Tier I Capital % 2017 2018 Total Capital

  14. Slide 14: Impact of IFRS 9 Implementation

    Impact of IFRS 9 Implementation Comparison between total provisions and IFRS 9 ECL on credit facilities (KD Millions) 2018 Provision on cash facilities 296 Provision on non-cash facilities 16 Total provisions on credit facilities (A) 312 IFRS 9 ECL on credit facilities (B) 200 Excess of total provis

  15. Slide 15: Q&A

    Q&A 15

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