Gulf Bank K.s.c. · KSE:GBK
Gulf Bank K.s.c — Gulf Bank — Q3 2021 Earnings Presentation
11 slides from Gulf Bank K.s.c's earnings presentation, Oct 28, 2021
Slide 1: Gulf Bank Earnings Presentation 3rd Quarter 2021
Gulf Bank Earnings Presentation 3rd Quarter 2021 28 October 2021 [GBK Classification: PUBLIC]
Slide 2: 9 Months 2021 Key Highlights
9 Months 2021 Key Highlights 1 Net Profit 2 Operating Income 27.5 +8% 125.5 +50% 116.4 KD millions 18.4 KD millions 9M 2020 9M 2021 9M 2020 9M 2021 3 Asset Quality 4 Capital Ratios 5 Credit Ratings Tier 1 % CAR % Current Old Credit Rating Criteria Outlook Rating 462% Coverage Ratio(1) 472% Minimums
Slide 3: 9 Months 2021 Net Profit vs. 9 Months 2020 Net Profit Evolution
9 Months 2021 Net Profit vs. 9 Months 2020 Net Profit Evolution ROE 3.9% +0.9% +0.7% -0.1% -2.2% +2.7% -0.1% 5.7% 30 ( 0.3 ) ( 0.5 ) 3.7 25 ( 11.5 ) 12.0 5.8 20 KD Million 15 27.5 10 18.4 5 0 Net Profit Net Interest Income Fees/ Foreign Other Income Operating Expenses Total Provisions Taxes/ Other N
Slide 4: Income Statement
Income Statement Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 21A vs Q3 20A 9M 9M 9M 21A vs 9M 20A KD Millions 2020A 2020A 2020A 2020A 2021A 2021A 2021A Amt % 2020A 2021A Amt % 1 Interest Income 58.0 55.2 49.3 46.8 45.3 46.0 46.7 (2.6) -5% 162.6 138.0 (24.6) -15% 2 Interest Expense (29.1) (22.8) (17.8) (14.8) (12.6) (13
Slide 5: Balance Sheet
Balance Sheet Var Sep 21 vs Sep 20 Var Sep 21 vs Dec 20 KD Millions 30-Sep-20 % of Total 31-Dec-20 % of Total 30-Sep-21 % of Total Amount % Amount % ASSETS 1 Cash and cash equivalents 826 1,106 18% 876 14% 50 6% (229) -21% 2 Kuwait Government Bonds 109 109 2% 91 1% (18) -16% (18) -16% 3 CBK Bills 28
Slide 6: Total Credit Provisions exceed IFRS accounting requirements by KD 114 million
Total Credit Provisions exceed IFRS 9 accounting requirements by KD 114 million Total Provisions on Credit Facilities Comparison between total provisions and IFRS 9 Expected Credit Loss (ECL) on credit facilities 400 30 Sep 31 Dec 30 Sep (KD Millions) 2020 2020 2021 326 297 Provision on cash facilit
Slide 7: With stable Gross Loans stage composition and coverage
With stable Gross Loans stage composition and coverage Gross Loans by Stages %(1) 30-Sep-20 31-Dec-20 30-Sep-21 7.7% 1.6% 6.1% 1.1% 5.6% 1.4% Stage 1 KD KD KD Stage 2 4.71 bn 4.58 bn 4.95 bn Stage 3 90.7% 92.8% 93.0% IFRS 9 ECL by Stages % IFRS 9 ECL Coverage by Total Credit Facilities Stages %(2) 2
Slide 8: Capital and Leverage Ratios
Capital and Leverage Ratios Tier I Capital(1)(3) Risk Weighted Assets 1,000 18% 6,000 14.9% 16% 13.9% 13.9% 4,633 4,803 800 5,000 4,576 14% 12% Minimum 4,000 600 680 668 9.5% 646 10% 3,000 8% 400 6% 2,000 KD Million KD Million % of RWA 200 4% 1,000 2% - 0% - 30-Sep-20 31-Dec-20 30-Sep-21 30-Sep-20 3
Slide 9: Liquidity Ratios
Liquidity Ratios Liquidity Coverage Ratio(1) Net Stable Funding Ratio(1) 400% 150% 300% 111% 110% 300% 279% 106% 265% 100% Minimum 200% 80% 50% 100% Minimum 80% 0% 0% 30-Sep-20 31-Dec-20 30-Sep-21 30-Sep-20 31-Dec-20 30-Sep-21 (1) Liquidity Coverage Ratio and Net Stable Funding Ratio regulatory mini
Slide 10: Q&A Gulf Bank
Q&A Gulf Bank Investor Relations Team Tel : +965 22449501 Fax : +965 2243-7872 P.O. Box 3200, Safat, 13032 Kuwait Investor.relations@gulfbank.com.kw 10 [GBK Classification: PUBLIC]
Slide 11: 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