Al Salam Bank B.S.C. (BAX: SALAM)

Al Salam Bank B.S.C. Income Statement

Financials in millions BHD. 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	304.64	222.76	129.94	98.78	94.34	76.78
Total Interest Income	304.64	222.76	129.94	98.78	94.34	76.78
Interest Paid on Borrowings	39.01	33.96	11	7.03	9.82	9.75
Total Interest Expense	39.01	33.96	11	7.03	9.82	9.75
Net Interest Income	265.63	188.8	118.94	91.75	84.52	67.02
Net Interest Income Growth (YoY)	56.30%	58.74%	29.63%	8.55%	26.10%	73.75%
Gain (Loss) on Sale of Assets	0.33	0.33	-0.02	0.17	-0.08	-0.3
Gain (Loss) on Sale of Investments	-17.1	-9.13	2.51	-0.05	-9.12	2.26
Gain (Loss) on Sale of Equity Investments	19.09	21.04	9.33	2.7	1.95	1.21
Other Non-Interest Income	-33.35	-71.11	-34.15	-28.06	-18.11	-15.61
Total Non-Interest Income	-31.03	-58.86	-22.34	-25.25	-25.35	-12.44
Revenues Before Loan Losses	234.59	129.93	96.6	66.5	59.17	54.59
Provision for Loan Losses	19.27	22.99	12.68	12.51	18.28	2.53
Revenue	215.32	106.94	83.91	53.99	40.89	52.06
Revenue Growth (YoY)	30.08%	27.45%	55.43%	32.02%	-21.45%	11.77%
Salaries and Employee Benefits	40.86	31.77	23.56	17.03	14.76	15.39
Occupancy Expenses	3.08	4.32	2.29	1.28	1.88	1.6
Selling, General & Administrative	2.48	3.42	1.99	1.87	2.29	2.27
Other Non-Interest Expense	114.7	30.03	22.8	12.82	11.09	10.53
Total Non-Interest Expense	161.13	69.53	50.64	33	30.03	29.79
EBT Excluding Unusual Items	54.19	37.41	33.27	20.99	10.87	22.27
Asset Writedown	-0.28	-0.28	-0.2	-0.11	-1.75	-1.14
Other Unusual Items	15.56	15.56	-	0.35	-	-
Pretax Income	69.47	52.69	33.07	21.22	9.12	21.13
Income Tax Expense	6.53	4.51	-	-	-	-
Earnings From Continuing Operations	62.94	48.18	33.07	21.22	9.12	21.13
Minority Interest in Earnings	-9.39	-5.95	-1.48	0.14	0.02	-0.04
Net Income	53.55	42.23	31.59	21.37	9.14	21.09
Net Income to Common	53.55	42.23	31.59	21.37	9.14	21.09
Net Income Growth	26.58%	33.66%	47.86%	133.72%	-56.66%	14.02%
Basic Shares Outstanding	2,691	2,580	2,587	2,677	2,654	2,684
Diluted Shares Outstanding	2,691	2,580	2,587	2,677	2,654	2,684
Shares Change (YoY)	1.89%	-0.26%	-3.35%	0.85%	-1.10%	-1.45%
EPS (Basic)	0.02	0.02	0.01	0.01	0.00	0.01
EPS (Diluted)	0.02	0.02	0.01	0.01	0.00	0.01
EPS Growth	24.23%	34.00%	52.99%	131.77%	-56.18%	15.71%
Dividend Per Share	0.007	0.007	0.005	0.004	0.004	0.006
Dividend Growth	45.65%	45.65%	31.43%	-16.67%	-34.38%	16.36%
Effective Tax Rate	9.39%	8.56%	-	-	-	-

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