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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	276.13	222.76	129.94	98.78	94.34	76.78
Total Interest Income	276.13	222.76	129.94	98.78	94.34	76.78
Interest Paid on Borrowings	37.61	33.96	11	7.03	9.82	9.75
Total Interest Expense	37.61	33.96	11	7.03	9.82	9.75
Net Interest Income	238.52	188.8	118.94	91.75	84.52	67.02
Net Interest Income Growth (YoY)	56.15%	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	-16.74	-9.13	2.51	-0.05	-9.12	2.26
Gain (Loss) on Sale of Equity Investments	19.38	21.04	9.33	2.7	1.95	1.21
Other Non-Interest Income	-64.21	-71.11	-34.15	-28.06	-18.11	-15.61
Total Non-Interest Income	-61.24	-58.86	-22.34	-25.25	-25.35	-12.44
Revenues Before Loan Losses	177.28	129.93	96.6	66.5	59.17	54.59
Provision for Loan Losses	16.78	22.99	12.68	12.51	18.28	2.53
Revenue	160.5	106.94	83.91	53.99	40.89	52.06
Revenue Growth (YoY)	4.12%	27.45%	55.43%	32.02%	-21.45%	11.77%
Salaries and Employee Benefits	37.39	31.77	23.56	17.03	14.76	15.39
Occupancy Expenses	4.32	4.32	2.29	1.28	1.88	1.6
Selling, General & Administrative	3.42	3.42	1.99	1.87	2.29	2.27
Other Non-Interest Expense	65.67	30.03	22.8	12.82	11.09	10.53
Total Non-Interest Expense	110.8	69.53	50.64	33	30.03	29.79
EBT Excluding Unusual Items	49.7	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	64.98	52.69	33.07	21.22	9.12	21.13
Income Tax Expense	6.11	4.51	-	-	-	-
Earnings From Continuing Operations	58.87	48.18	33.07	21.22	9.12	21.13
Minority Interest in Earnings	-8.91	-5.95	-1.48	0.14	0.02	-0.04
Net Income	49.96	42.23	31.59	21.37	9.14	21.09
Net Income to Common	49.96	42.23	31.59	21.37	9.14	21.09
Net Income Growth	29.35%	33.66%	47.86%	133.72%	-56.66%	14.02%
Basic Shares Outstanding	2,657	2,580	2,587	2,677	2,654	2,684
Diluted Shares Outstanding	2,657	2,580	2,587	2,677	2,654	2,684
Shares Change (YoY)	0.66%	-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	28.50%	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	9.41%	8.56%	-	-	-	-

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