National Bank of Kuwait S.A.K.P. (KWSE: NBK)

NBK 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	2,253	2,035	1,235	888.91	982.12	1,198
Interest Paid on Deposits	1,280	1,130	479.31	219.65	348.65	508.62
Net Interest Income	973	905.14	755.84	669.26	633.47	689.22
Net Interest Income Growth (YoY)	11.19%	19.75%	12.94%	5.65%	-8.09%	-0.18%
Gain (Loss) on Sale of Assets	-	-	1.28	-	-	-
Gain (Loss) on Sale of Investments	18.89	18.89	2.76	21.63	-2.33	3.2
Gain (Loss) on Sale of Equity Investments	0.77	0.77	0.79	0.44	0.28	2.16
Other Non-Interest Income	241.36	241.97	249.08	208.46	208.38	200.93
Total Non-Interest Income	261.02	261.63	253.9	230.53	206.33	206.29
Non-Interest Income Growth (YoY)	3.99%	3.04%	10.14%	11.73%	0.02%	7.02%
Revenues Before Loan Losses	1,234	1,167	1,010	899.79	839.8	895.52
Provision for Loan Losses	73.38	82.89	25.16	132.5	246.44	129.72
Revenue	1,161	1,084	984.58	767.3	593.36	765.8
Revenue Growth (YoY)	7.87%	10.09%	28.32%	29.31%	-22.52%	8.85%
Salaries and Employee Benefits	246.32	231.4	217.41	198.54	173.16	172.28
Occupancy Expenses	46.35	44.31	38.92	34.05	33.43	26.49
Amortization of Goodwill & Intangibles	1.65	1.65	1.65	1.65	1.65	3.2
Selling, General & Administrative	165.24	149.87	128.92	118.3	103.34	102.31
Total Non-Interest Expense	459.56	427.23	386.89	352.54	311.58	304.27
EBT Excluding Unusual Items	701.09	656.64	597.68	414.76	281.78	461.53
Other Unusual Items	-	-	-	-	2.73	-
Pretax Income	680.91	636.47	577.48	414.76	284.5	461.53
Income Tax Expense	57.77	48.1	47.42	34.14	25.84	35.54
Earnings From Continuing Operations	623.14	588.37	530.06	380.62	258.66	425.99
Minority Interest in Earnings	-36.59	-27.75	-20.98	-18.37	-12.32	-24.7
Net Income	586.54	560.62	509.09	362.25	246.34	401.29
Preferred Dividends & Other Adjustments	21.83	21.89	21.76	23.13	25.9	15.33
Net Income to Common	564.72	538.73	487.32	339.12	220.44	385.96
Net Income Growth	3.64%	10.12%	40.53%	47.05%	-38.61%	8.25%
Basic Shares Outstanding	8,326	8,326	8,326	8,326	8,262	8,227
Diluted Shares Outstanding	8,326	8,326	8,326	8,326	8,262	8,227
Shares Change (YoY)	0.00%	-	0.00%	0.78%	0.42%	0.29%
EPS (Basic)	0.07	0.06	0.06	0.04	0.03	0.05
EPS (Diluted)	0.07	0.06	0.06	0.04	0.03	0.05
EPS Growth	3.79%	10.55%	43.70%	52.65%	-43.13%	8.24%
Dividend Per Share	0.034	0.033	0.032	0.026	0.017	0.027
Dividend Growth	4.97%	5.05%	22.39%	56.97%	-39.78%	4.98%
Effective Tax Rate	8.48%	7.56%	8.21%	8.23%	9.08%	7.70%

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