National Bank Of Kuwait K.s.c. · KSE:NBK
National Bank Of Kuwait K.s.c — National Bank of Kuwait — FY2024 Earnings Presentation
24 slides from National Bank Of Kuwait K.s.c's earnings presentation, 2025
Slide 1: National Bank of Kuwait Investor Presentation 4Q/FY 2024 Earnings Call
PUBLIC National Bank of Kuwait Investor Presentation 4Q/FY 2024 Earnings Call National Bank of Kuwait 1
Slide 2: Disclaimer
PUBLIC 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
Slide 3: Contents
PUBLIC Contents Section 1 Vice Chairman and Group CEO Opening Remarks Section 2 Financial Performance Section 3 Appendix Section 4 Questions National Bank of Kuwait 3
Slide 4: Key Economic Highlights
PUBLIC Key Economic Highlights GCC Headline Growth (%) Real GDP Growth1 (% y/y) 2024f 2025f 14 14 12 Oil Non-oil Total 12 Bahrain 1.8 3.9 10 10 8 8 Kuwait -2.4 3.0 6 6 4 4 Oman 1.3 3.2 2 2 Qatar 1.8 2.4 0 0 -2 -2 KSA 1.1 5.0 -4 -4 -6 -6 UAE 3.3 5.1 -8 -8 -10 -10 GCC 1.4 4.5 2018 2019 2020 2021 2022
Slide 5: Operating Performance & Profitability
PUBLIC Operating Performance & Profitability Net Profit (KDm) Net Operating Income (KDm) 7.0% 7.2% 1,251 600.1 560.6 1,167 10.5% 129.5 143.1 4Q2023 4Q2024 2023 2024 2023 2024 Return on Average Assets Return on Average Equity 15.1% 15.0% 1.55% 1.53% 2023 2024 2023 2024 National Bank of Kuwait 5
Slide 6: NBK's Strategy
PUBLIC NBK’s Strategy ▪ The Bank aims to (i) remain the primary banker for the leading local companies whilst continuing to be active in the mid-market sector;(ii) ✓ Corporate remain the bank of choice for foreign companies and continuing to serve at least 75% of those companies and (iii) maintain i
Slide 7: Key ESG Achievements
PUBLIC Key ESG Achievements We measure our progress against well-defined metrics and targets to achieve the greatest positive impact. Strategy Pillars Key Highlights* ▪ In the process of developing an Environmental and Climate Change Policy, a fundamental part of NBK’s commitment to carbon neutralit
Slide 8: Contents
PUBLIC Contents Section 1 Group CEO Opening Remarks Section 2 Financial Performance Section 3 Appendix Section 4 Questions National Bank of Kuwait 8
Slide 9: Operating Performance
PUBLIC Operating Performance Net Profit (KDm) Operating Surplus (KDm) 600.1 +7.0% 783.2 +5.8% 560.6 740.3 164.6 202.7 194.7 129.5 143.1 186.7 4Q 2023 3Q 2024 4Q 2024 2023 2024 4Q 2023 3Q 2024 4Q 2024 2023 2024 Net Operating Income (KDm) Net Operating Income Mix Net interest income & Net income from
Slide 10: Operating Performance
PUBLIC Operating Performance Net Interest Income* (KDm) Average Interest Earning Assets (KDbn) 980.1 +8.3% 36.9 +5.6% 905.1 34.9 239.3 251.4 246.4 4Q 2023 3Q 2024 4Q 2024 2023 2024 2023 2024 Net Interest Margin* Net Interest Margin Drivers YTD NIM Qtrly NIM 2.68% 2.68% 2.71% 2.73% 2.64% 2.66% 2.56%
Slide 11: Operating Performance
PUBLIC Operating Performance Non-Interest Income (KDm) Operating Expenses (KDm) Net fees and commissions Net gains from dealing in FX Other non-interest income Staff expenses Other operating expenses 468.0 271.1 +3.6% 426.5 +9.7% 261.6 24 29 41 215 36 193 67.2 73.9 63.7 197 206 116.3 115.9 125.5 9 4
Slide 12: Group Diversification
PUBLIC Group Diversification 2024 Op. Income by Business Line (%) 2024 Net Profit by Business Line (%) 2024 Total Assets by Business Line (%) Corporate Corporate Corporate 19% 13% NBK Wealth 13% NBK Wealth NBK Wealth 9% 11% Consumer 3% Consumer 21% Consumer 13% 17% Islamic Islamic 15% Others Islamic
Slide 13: Balance Sheet
PUBLIC Balance Sheet Total Assets (KDbn) Loans, Advances and Islamic Financing (KDbn) 40.3 23.7 37.7 +7.1% 22.3 +6.4% Dec 23 Dec 24 Dec 23 Dec 24 Customer Deposits & FI Deposits* (KDbn) Funding Mix Customer Deposits FI Deposits Customer Deposits Due to banks Deposits from other FIs CD's / Other borr
Slide 14: Performance and Asset Quality Ratios
PUBLIC Performance and Asset Quality Ratios Return on Average Equity Return on Average Assets 15.0% 15.1% 1.55% 1.53% 2023 2024 2023 2024 Capital Adequacy Ratios Asset Quality Ratios CET 1 Ratio Tier 1 Ratio Capital Adequacy Ratio Loan Loss Coverage Ratio NPL Ratio 17.3% 17.3% 271% 263% 15.0% 15.1%
Slide 15: Expected Credit Losses (ECL)
PUBLIC Expected Credit Losses (ECL) Financial Statements ECL Disclosure (KDm) Total Gross Loans (KDbn) Stage 1 Stage 2 Stage 3 31 December 2024 Stage 1 Stage 2 Stage 3 Total 23.1 24.6 1% 1% Loans, advances and Islamic 7% 6% financing to customers 22,714 1,529 329 24,572 Contingent liabilities 4,582
Slide 16: 2025 Guidance
PUBLIC 2025 Guidance 2024 2025 Guidance Loan Growth +6.4% Mid Single Digit NIM 2.66% Contracting Cost to Income ratio 37.4% High 30s Cost of Risk 37 bps c.40 bps Earnings +7.0% Capital Adequacy 17.3% National Bank of Kuwait 16
Slide 17: Contents
PUBLIC Contents Section 1 Vice Chairman and Group CEO Opening Remarks Section 2 Financial Performance Section 3 Appendix Section 4 Questions National Bank of Kuwait 17
Slide 18: Consolidated Statement Of Income (KDm)
PUBLIC Consolidated Statement Of Income (KDm) KDm 2023 2024 YoY Growth (%) Interest Income 1,633 1,799 10% Interest Expense 908 1,027 13% Net Interest Income 725 772 6% Murabaha and other Islamic financing income 402 465 15% Finance cost and Distribution to depositors 222 256 15% Net Income from Isl
Slide 19: Consolidated Statement Of Financial Position (KDm)
PUBLIC Consolidated Statement Of Financial Position (KDm) KDm December-2023 December-2024 YoY Growth % Cash and short term funds 4,385 5,323 21% Central Bank of Kuwait bonds 857 344 (60%) Kuwait Government treasury bonds 194 149 (23%) Deposits with banks 1,318 1,383 5% Loans, advances and Islamic fi
Slide 20: Performance Measures 2024
PUBLIC Performance Measures 2024 December-2023 December-2024 Return on Average Assets 1.53% 1.55% Return on Average Equity 15.0% 15.1% Net Interest Margin 2.59% 2.66% Cost to Income 36.6% 37.4% NPLs to Gross Loans 1.38% 1.34% Loan Loss Reserves to NPLs 271% 263% CET 1 Ratio 13.0% 13.2% Tier 1 Ratio
Slide 21: Contents
PUBLIC Contents Section 1 Vice Chairman and Group CEO Opening Remarks Section 2 Financial Performance Section 3 Appendix Section 4 Questions National Bank of Kuwait 21
Slide 22: Questions?
PUBLIC Questions? National Bank of Kuwait 22
Slide 23: Thank You
PUBLIC Thank You National Bank of Kuwait 23
Slide 24: National Bank of Kuwait Investor Presentation 4Q/FY 2024 Earnings Call
PUBLIC National Bank of Kuwait Investor Presentation 4Q/FY 2024 Earnings Call National Bank of Kuwait 24
National Bank of Kuwait — FY2024 Earnings Presentation on 6ix