Al Ahli Bank of Kuwait K.S.C.P. (KWSE: ABK)

ABK Income Statement

Financials in millions KWD. 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	461.27	413.54	269.33	202.03	205.11	247.89
Interest Income on Investments	2.04	1.64	1.64	1.07	1.45	1.74
Total Interest Income	463.31	415.18	270.97	203.11	206.55	249.63
Interest Paid on Deposits	317.21	276.15	143.95	89.54	99.65	120.26
Net Interest Income	146.11	139.03	127.02	113.57	106.9	129.37
Net Interest Income Growth (YoY)	9.71%	9.46%	11.84%	6.24%	-17.37%	4.00%
Gain (Loss) on Sale of Investments	1.61	1.22	1.91	2.05	0.43	2.1
Gain (Loss) on Sale of Equity Investments	3.4	3.05	3.38	2.43	1.97	2.89
Other Non-Interest Income	48.96	41.72	39.26	35.82	32.17	38.14
Total Non-Interest Income	53.96	45.99	44.55	40.3	34.57	43.13
Non-Interest Income Growth (YoY)	35.95%	3.23%	10.56%	16.57%	-19.86%	-2.89%
Revenues Before Loan Losses	200.07	185.02	171.57	153.86	141.46	172.5
Provision for Loan Losses	40.96	39.51	46.63	45.21	136.48	71.64
Revenue	159.1	145.51	124.94	108.65	4.98	100.86
Revenue Growth (YoY)	20.97%	16.47%	14.99%	2081.37%	-95.06%	-10.45%
Salaries and Employee Benefits	50.79	48.41	45.83	38.86	35.61	37.22
Occupancy Expenses	5.56	5.84	7.11	6.74	6.94	7.22
Selling, General & Administrative	0.87	0.87	0.76	0.57	-	0.4
Other Non-Interest Expense	37.22	33.67	28.12	26.14	25.46	22.58
Total Non-Interest Expense	94.44	88.79	81.82	72.3	68.01	67.42
EBT Excluding Unusual Items	64.67	56.72	43.12	36.35	-63.03	33.45
Asset Writedown	-	-	-0.8	-0.54	-	-
Pretax Income	64.67	56.72	42.32	35.81	-63.03	33.45
Income Tax Expense	13	11.28	9.94	8.42	6.48	4.62
Earnings From Continuing Operations	51.67	45.45	32.38	27.4	-69.51	28.83
Minority Interest in Earnings	-0.3	-0.26	-0.09	-0.18	-0.18	-0.15
Net Income	51.37	45.19	32.29	27.21	-69.68	28.68
Preferred Dividends & Other Adjustments	-	6.73	6.72	6.6	6.72	6.64
Net Income to Common	51.37	38.46	25.57	20.62	-76.4	22.04
Net Income Growth	37.22%	39.93%	18.66%	-	-	-31.91%
Basic Shares Outstanding	2,474	2,150	2,013	1,952	1,952	1,952
Diluted Shares Outstanding	2,474	2,150	2,013	1,952	1,952	1,952
Shares Change (YoY)	20.77%	6.79%	3.14%	-0.00%	-0.02%	-0.00%
EPS (Basic)	0.02	0.02	0.01	0.01	-0.04	0.01
EPS (Diluted)	0.02	0.02	0.01	0.01	-0.04	0.01
EPS Growth	38.51%	40.83%	20.25%	-	-	-47.67%
Dividend Per Share	0.009	0.009	0.007	0.004	-	0.006
Dividend Growth	19.44%	19.44%	67.44%	-	-	-49.57%
Effective Tax Rate	20.09%	19.88%	23.49%	23.50%	-	13.81%

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