Safwa Islamic Bank (ASE: SIBK)

Safwa Islamic Bank Income Statement

Financials in millions JOD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	92.18	87.95	71.47	58.75	47.81	40.99
Interest Paid on Deposits	105.94	94.23	63.21	45.66	38.25	36.42
Net Interest Income	-13.77	-6.28	8.26	13.1	9.56	4.57
Net Interest Income Growth (YoY)	-	-	-36.94%	36.97%	109.27%	-19.34%
Gain (Loss) on Sale of Assets	0	0	-0	0.01	-0.01	0.01
Gain (Loss) on Sale of Investments	28.64	19.29	9.39	5.86	6.94	7.69
Gain (Loss) on Sale of Equity Investments	-0.02	0	0.01	0	0.01	-0.01
Other Non-Interest Income	78.24	63.14	48.31	39.73	35.87	35.7
Total Non-Interest Income	106.86	82.43	57.7	45.6	42.8	43.38
Non-Interest Income Growth (YoY)	36.79%	42.85%	26.54%	6.55%	-1.34%	39.65%
Revenues Before Loan Losses	93.1	76.15	65.96	58.7	52.36	47.95
Provision for Loan Losses	28.57	15.91	12.03	9.52	10.04	5.25
Revenue	64.53	60.24	53.93	49.18	42.31	42.7
Revenue Growth (YoY)	7.95%	11.70%	9.67%	16.22%	-0.90%	16.38%
Salaries and Employee Benefits	18.38	16.96	15.38	14.4	13.12	13.15
Occupancy Expenses	5.47	5.41	5.24	5.07	5.09	5.16
Selling, General & Administrative	1.78	1.77	1.57	1.62	1.64	1.56
Other Non-Interest Expense	8.12	7.79	7.32	5.27	6.62	5.62
Total Non-Interest Expense	34.15	31.92	29.51	26.36	26.48	25.5
EBT Excluding Unusual Items	30.38	28.32	24.42	22.82	15.83	17.2
Pretax Income	30.38	28.32	24.42	22.82	15.83	17.2
Income Tax Expense	11.64	10.81	9.31	8.76	5.66	7.19
Net Income	18.73	17.51	15.11	14.06	10.17	10.02
Net Income to Common	18.73	17.51	15.11	14.06	10.17	10.02
Net Income Growth	18.52%	15.87%	7.48%	38.29%	1.51%	19.95%
Basic Shares Outstanding	120	120	120	120	120	120
Diluted Shares Outstanding	120	120	120	120	120	120
EPS (Basic)	0.16	0.15	0.13	0.12	0.08	0.08
EPS (Diluted)	0.16	0.15	0.13	0.12	0.08	0.08
EPS Growth	18.52%	15.87%	7.48%	38.29%	1.51%	19.95%
Dividend Per Share	-	-	-	0.050	0.050	-
Effective Tax Rate	38.33%	38.18%	38.12%	38.38%	35.78%	41.77%

Source: S&P Capital IQ. Banks template. Financial Sources.