Al Salam Bank B.S.C. (DFM:SALAM_BAH)

Al Salam Bank B.S.C. Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	333.38	222.76	129.94	98.78	94.34
Total Interest Income	333.38	222.76	129.94	98.78	94.34
Interest Paid on Borrowings	41.89	33.96	11	7.03	9.82
Total Interest Expense	41.89	33.96	11	7.03	9.82
Net Interest Income	291.49	188.8	118.94	91.75	84.52
Net Interest Income Growth (YoY)	54.39%	58.74%	29.63%	8.55%	26.10%
Gain (Loss) on Sale of Assets	-	-	-0.02	0.17	-0.08
Gain (Loss) on Sale of Investments	-0.77	-9.13	2.51	-0.05	-9.12
Gain (Loss) on Sale of Equity Investments	18.17	21.04	9.33	2.7	1.95
Other Non-Interest Income	40.02	29.03	-34.15	-28.06	-18.11
Total Non-Interest Income	57.42	40.94	-22.34	-25.25	-25.35
Non-Interest Income Growth (YoY)	40.26%	-	-	-	-
Revenues Before Loan Losses	348.91	229.74	96.6	66.5	59.17
Provision for Loan Losses	21.17	22.99	12.68	12.51	18.28
Revenue	327.74	206.75	83.91	53.99	40.89
Revenue Growth (YoY)	58.52%	146.38%	55.43%	32.02%	-21.45%
Salaries and Employee Benefits	44.35	31.77	23.56	17.03	14.76
Occupancy Expenses	8.06	4.32	2.29	1.28	1.88
Selling, General & Administrative	4.49	3.42	1.99	1.87	2.29
Other Non-Interest Expense	197.53	130.12	22.8	12.82	11.09
Total Non-Interest Expense	254.43	169.62	50.64	33	30.03
EBT Excluding Unusual Items	73.31	37.13	33.27	20.99	10.87
Asset Writedown	-	-	-0.2	-0.11	-1.75
Other Unusual Items	2.68	15.56	-	0.35	-
Pretax Income	75.99	52.69	33.07	21.22	9.12
Income Tax Expense	6.49	4.51	-	-	-
Earnings From Continuing Operations	69.5	48.18	33.07	21.22	9.12
Minority Interest in Earnings	-10.49	-5.95	-1.48	0.14	0.02
Net Income	59.01	42.23	31.59	21.37	9.14
Net Income to Common	59.01	42.23	31.59	21.37	9.14
Net Income Growth	39.75%	33.66%	47.86%	133.72%	-56.66%
Basic Shares Outstanding	2,654	2,586	2,587	2,677	2,654
Diluted Shares Outstanding	2,654	2,586	2,587	2,677	2,654
Shares Change (YoY)	2.65%	-0.05%	-3.35%	0.85%	-1.10%
EPS (Basic)	0.02	0.02	0.01	0.01	0.00
EPS (Diluted)	0.02	0.02	0.01	0.01	0.00
EPS Growth	36.15%	33.72%	52.99%	131.77%	-56.18%
Dividend Per Share	0.006	0.007	0.005	0.004	0.004
Dividend Growth	-10.45%	45.65%	31.43%	-16.67%	-34.38%
Effective Tax Rate	8.54%	8.56%	-	-	-

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