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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	90.14	87.95	71.47	58.75	47.81	40.99
Interest Paid on Deposits	103.01	94.23	63.21	45.66	38.25	36.42
Net Interest Income	-12.87	-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	27.28	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	70.68	63.14	48.31	39.73	35.87	35.7
Total Non-Interest Income	97.95	82.43	57.7	45.6	42.8	43.38
Non-Interest Income Growth (YoY)	41.72%	42.85%	26.54%	6.55%	-1.34%	39.65%
Revenues Before Loan Losses	85.08	76.15	65.96	58.7	52.36	47.95
Provision for Loan Losses	23.61	15.91	12.03	9.52	10.04	5.25
Revenue	61.47	60.24	53.93	49.18	42.31	42.7
Revenue Growth (YoY)	8.84%	11.70%	9.67%	16.22%	-0.90%	16.38%
Salaries and Employee Benefits	17.84	16.96	15.38	14.4	13.12	13.15
Occupancy Expenses	5.46	5.41	5.24	5.07	5.09	5.16
Selling, General & Administrative	1.75	1.77	1.57	1.62	1.64	1.56
Other Non-Interest Expense	7.92	7.79	7.32	5.27	6.62	5.62
Total Non-Interest Expense	32.97	31.92	29.51	26.36	26.48	25.5
EBT Excluding Unusual Items	28.5	28.32	24.42	22.82	15.83	17.2
Pretax Income	28.5	28.32	24.42	22.82	15.83	17.2
Income Tax Expense	10.9	10.81	9.31	8.76	5.66	7.19
Net Income	17.61	17.51	15.11	14.06	10.17	10.02
Net Income to Common	17.61	17.51	15.11	14.06	10.17	10.02
Net Income Growth	11.97%	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)	0.15	0.15	0.13	0.12	0.08	0.08
EPS (Diluted)	0.15	0.15	0.13	0.12	0.08	0.08
EPS Growth	11.97%	15.87%	7.48%	38.29%	1.51%	19.95%
Dividend Per Share	-	-	-	0.050	0.050	-
Effective Tax Rate	38.23%	38.18%	38.12%	38.38%	35.78%	41.77%

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