Commercial Bank of Kuwait K.P.S.C. (KWSE: CBK)

CBK 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	236.48	217.51	130.89	98.18	124.96	166.81
Interest Income on Investments	3.56	3.75	3.2	3.65	3.61	4.56
Total Interest Income	240.04	221.26	134.09	101.83	128.56	171.37
Interest Paid on Deposits	119.38	104.46	45.34	23.93	45.97	69.53
Net Interest Income	120.66	116.8	88.75	77.9	82.59	101.84
Net Interest Income Growth (YoY)	8.07%	31.60%	13.93%	-5.68%	-18.90%	3.27%
Gain (Loss) on Sale of Assets	-	-	-	-	-0.06	-0.04
Gain (Loss) on Sale of Investments	0.04	0.11	0.05	0.79	0.53	0.2
Other Non-Interest Income	56.24	53.26	51.06	46.17	48.53	56.68
Total Non-Interest Income	56.28	53.37	51.11	46.96	49.01	56.85
Non-Interest Income Growth (YoY)	7.03%	4.42%	8.84%	-4.17%	-13.79%	8.66%
Revenues Before Loan Losses	176.94	170.17	139.87	124.86	131.59	158.69
Provision for Loan Losses	13.89	0.14	25.79	24.15	91.39	108.46
Revenue	163.05	170.03	114.08	100.72	40.2	50.22
Revenue Growth (YoY)	-9.59%	49.05%	13.27%	150.52%	-19.95%	-54.97%
Salaries and Employee Benefits	33.51	28.86	17.87	27.15	22.77	27.95
Occupancy Expenses	2.19	2.73	1.91	1.99	2.26	4.18
Selling, General & Administrative	22.05	22.04	17.31	14.42	15.11	18.03
Total Non-Interest Expense	57.76	53.62	37.09	43.56	40.14	50.16
EBT Excluding Unusual Items	105.29	116.41	76.98	57.16	0.07	0.06
Pretax Income	105.29	116.41	76.98	57.16	0.07	0.06
Income Tax Expense	4.72	5.24	3.37	2.42	0.02	-
Earnings From Continuing Operations	100.57	111.18	73.61	54.74	0.05	0.06
Minority Interest in Earnings	-0.04	-0.03	-0.03	-0.1	-0.05	-0.06
Net Income	100.53	111.15	73.59	54.64	-	-
Net Income to Common	100.53	111.15	73.59	54.64	-	-
Net Income Growth	-23.40%	51.05%	34.68%	-	-	-
Basic Shares Outstanding	1,801	1,856	1,976	1,965	1,985	2,025
Diluted Shares Outstanding	1,801	1,856	1,976	1,965	1,985	2,025
Shares Change (YoY)	-4.77%	-6.08%	0.59%	-1.00%	-1.98%	-0.64%
EPS (Basic)	0.06	0.06	0.04	0.03	-	-
EPS (Diluted)	0.06	0.06	0.04	0.03	-	-
EPS Growth	-19.57%	60.83%	33.89%	-	-	-
Dividend Per Share	0.037	0.037	0.025	0.020	-	-
Dividend Growth	0%	48.00%	25.00%	-	-	-
Effective Tax Rate	4.49%	4.50%	4.38%	4.24%	24.62%	-

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