Kuwait Finance House K.S.C.P. (KWSE: KFH)

KFH 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	2,753	2,194	1,322	871.48	892.88	931.57
Interest Paid on Deposits	1,665	1,228	521.82	285.78	278.66	401.32
Net Interest Income	1,087	965.93	800.5	585.7	614.22	530.26
Net Interest Income Growth (YoY)	8.07%	20.66%	36.67%	-4.64%	15.84%	0.57%
Gain (Loss) on Sale of Assets	71.7	71.7	3.67	20.38	15.22	20.08
Gain (Loss) on Sale of Investments	100.4	100.4	7.45	15.39	-6.12	32.64
Gain (Loss) on Sale of Equity Investments	30.43	30.43	7.05	-3.36	-7.06	22.41
Other Non-Interest Income	248.01	292.41	253.61	192.9	179.34	209.02
Total Non-Interest Income	450.54	494.93	271.78	225.31	181.37	284.15
Non-Interest Income Growth (YoY)	-6.94%	82.11%	20.62%	24.22%	-36.17%	29.90%
Revenues Before Loan Losses	1,538	1,461	1,072	811.01	795.6	814.4
Provision for Loan Losses	24.12	41.42	50.19	133.47	257.56	186.88
Revenue	1,514	1,419	1,022	677.55	538.04	627.52
Revenue Growth (YoY)	2.55%	38.88%	50.85%	25.93%	-14.26%	-4.31%
Salaries and Employee Benefits	328.44	286.75	209.08	183.98	172.29	182.44
Occupancy Expenses	83.51	78.58	45.32	41.78	42.6	42.99
Selling, General & Administrative	167.38	151.43	95.68	83.28	81.76	79.79
Other Non-Interest Expense	38.59	-	-	-	-	-
Total Non-Interest Expense	617.91	516.76	350.09	309.04	296.65	305.21
EBT Excluding Unusual Items	895.63	902.68	672	368.51	241.4	322.31
Asset Writedown	-2.95	-2.95	-11.89	-1.9	-26.51	-10.03
Other Unusual Items	-72.81	-72.81	-127.63	-	-	-
Pretax Income	819.86	826.92	532.48	366.61	214.88	312.28
Income Tax Expense	155.03	151.82	97.88	56.47	30.66	50.46
Earnings From Continuing Operations	664.84	675.1	434.6	310.14	184.22	261.82
Minority Interest in Earnings	-58.92	-90.59	-76.89	-66.72	-35.82	-10.8
Net Income	605.91	584.52	357.72	243.41	148.4	251.02
Preferred Dividends & Other Adjustments	22.15	21.73	14.52	4.08	-	-
Net Income to Common	583.77	562.79	343.2	239.33	148.4	251.02
Net Income Growth	-1.23%	63.40%	46.96%	64.03%	-40.88%	10.38%
Basic Shares Outstanding	15,919	15,937	12,592	11,039	11,033	10,996
Diluted Shares Outstanding	15,919	15,937	12,592	11,039	11,033	10,996
Shares Change (YoY)	-0.10%	26.57%	14.06%	0.06%	0.34%	0.15%
EPS (Basic)	0.04	0.04	0.03	0.02	0.01	0.02
EPS (Diluted)	0.04	0.04	0.03	0.02	0.01	0.02
EPS Growth	-1.32%	29.57%	25.72%	61.18%	-41.08%	10.22%
Dividend Per Share	0.019	0.018	0.013	0.009	0.007	0.013
Dividend Growth	-11.98%	46.40%	37.36%	31.88%	-44.80%	9.65%
Effective Tax Rate	18.91%	18.36%	18.38%	15.40%	14.27%	16.16%

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