Gulf Bank K.S.C. · KSE:GBK
Gulf Bank K.S.C — Gulf Bank — FY2020 Earnings Presentation
11 slides from Gulf Bank K.S.C's earnings presentation, Feb 15, 2021
Slide 1: Gulf Bank Earnings Presentation Year End 2020
Gulf Bank Earnings Presentation Year End 2020 15 February 2021
Slide 2: 2020 Key Messages
2020 Key Messages 1 Net Profit 2 Earnings/Dividend Per Share(1) 3 Non-Performing Loans Dividend Per Share 1.1% NPL Ratio 1.1% 63.6 22 Earnings Per Share 52 51 KD millions KD millions 28.8 10 Fils 11 5 2019 2020 2019 2020 2019 2020 4 Total Credit Provisions 5 Capital Ratios 6 Credit Ratings IFRS 9 Ex
Slide 3: Normalized operating margin progression 2019 to 2020
Normalized operating margin progression 2019 to 2020 120 113 100 90 ( 47 ) 7 80 27 KD Million 60 (8) (2) 40 20 0 Operating Margin Interest Fees/ Foreign Exchange Other Income Interest Expense Operating Operating Margin 2019 Income(1) Income Expense (2) 2020 (1) Excludes KD 19.7 million of non-recurr
Slide 4: Income Statement
Income Statement Q1 Q2 Q3 Q4 FY FY FY 20A vs FY 19A KD Millions 2020A 2020A 2020A 2020A 2019A 2020A Amt % 1 Interest Income 58.0 55.2 49.3 46.8 275.6 209.3 (66.3) -24% 2 Interest Expense (29.1) (22.8) (17.8) (14.8) (111.2) (84.6) 26.7 24% 3 Net Inter est Income 28.9 32.4 31.5 32.0 164.4 124.8 (39.6)
Slide 5: Balance Sheet
Balance Sheet Var Dec 20 vs Dec 19 KD Millions 31-Dec-19 % of Total 31-Dec-20 % of Total Amount % ASSETS 1 Cash and cash equivalents 848 14% 1,106 18% 258 30% 2 Kuwait Government Bonds 232 4% 109 2% (124) -53% 3 CBK Bills 279 4% 281 5% 2 1% 4 Deposits with banks and OFIs 128 2% 3 0% (125) -98% 5 Liq
Slide 6: Total Credit Provisions exceed IFRS9 accounting requirements by KD 112 million
Total Credit Provisions exceed IFRS9 accounting requirements by KD 112 million Total Credit Provisions Comparison between total provisions and 400 IFRS 9 Excess Credit Loss (ECL) on credit facilities 31 Dec 31 Dec 31 Dec 312 (KD Millions) 2018 2019 2020 296 300 284 Provision on cash facilities 296 2
Slide 7: Capital and Leverage Ratios
Capital and Leverage Ratios Tier I Capital(1)(3) Risk Weighted Assets 18% 6,000 800 14.85% 16% 13.81% 4,809 4,576 5,000 14% 600 664 680 12% Minimum 4,000 9.5% 10% 3,000 400 8% 6% 2,000 KD Million KD Million % of RWA 200 4% 1,000 2% - 0% - 31-Dec-19 31-Dec-20 31-Dec-19 31-Dec-20 Tier 1 Capital Tier 1
Slide 8: Liquidity Ratios
Liquidity Ratios Liquidity Coverage Ratio(1) Net Stable Funding Ratio(1) 400% 150% 313% 300% 111% 110% 300% 100% Minimum 200% 80% 50% 100% Minimum 80% 0% 0% 31-Dec-19 31-Dec-20 31-Dec-19 31-Dec-20 (1) Liquidity Coverage Ratio and Net Stable Funding Ratio regulatory minimums have been changed from 10
Slide 9: Maintaining 'A' ratings from all four major credit rating agencies
Maintaining ‘A’ ratings from all four major credit rating agencies Rating Agency Criteria Rating Long-Term Deposits A3 Outlook Stable Long-Term Issuer Default Rating A+ Outlook Negative Issuer Credit Rating A- Outlook Negative Long-Term Foreign Currency A+ Outlook Stable 9
Slide 10: Q&A
Q&A Gulf Bank Investor Relations Team Tel : +965 22449501 Fax : +965 2243-7872 P.O. Box 3200, Safat, 13032 Kuwait [email protected] 10
Slide 11: Disclaimer
Disclaimer THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AT AN INVESTOR PRESENTATION AND IS PROVIDED AS INFORMATION ONLY. THIS PRESENTATION DOES N