Gulf Bank K.S.C. · KSE:GBK
Gulf Bank K.S.C — Gulf Bank — Q1 2019 Earnings Presentation
10 slides from Gulf Bank K.S.C's earnings presentation, May 1, 2019
Slide 1: Gulf Bank Investor Presentation Q1-2019
Gulf Bank Investor Presentation Q1-2019 1 May 2019
Slide 2: 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
Slide 3: Q1 2019 Net Profit Growth of 9%
Q1 2019 Net Profit Growth of 9% 60 57 50 48 40 43 +18% 39 KD Million +12% 36 30 32 +10% 20 +10% 10 +10% 12 11 +9% 0 2013 2014 2015 2016 2017 2018 Q1-18 Q1-19 3
Slide 4: 2018 Earnings and Cash Dividends per Share
2018 Earnings per share of 20 fils and Cash Dividends per share of 10 fils (51% payout ratio) 25 20 20 17 15 15 13 Fils 10 12 5 9 10 7 0 4 0 2014 2015 2016 2017 2018 DPS EPS Payout 0% 31% 47% 55% 51% Ratio 4
Slide 5: Rated "A" by all four Credit Rating Agencies
Rated “A” by all four Credit Rating Agencies Rating 2018 Long Term Deposits A3 Outlook Positive Long Term IDR A+ Outlook Stable Issuer Credit Rating A- Outlook Stable Financial Strength A- Outlook Stable 5
Slide 6: Balance Sheet
Balance Sheet KD Millions 31-Mar-18 % of Total 31-Mar-19 % of Total 31-Mar-19 vs 31-Mar-18 ASSETS 1 Cash and cash equivalents 558 10% 678 12% 120 2 Kuwait Government Bonds 538 9% 368 6% (169) 3 CBK Bills 388 7% 308 5% (80) 4 Deposits with banks and OFIs 15 0% 147 3% 132 5 Liquid Assets 1,499 26% 1,5
Slide 7: Income Statement
Income Statement Q1-19 % of Avg. % of Avg. % of Avg. KD Millions 2018 18 vs 17 Q1-18 Q1-19 vs Assets Assets Assets Q1-18 1 Interest Income 243 4.2% 37 57 4.1% 64 4.4% 6.9 2 Interest Expense (90) -1.5% (16) (20) -1.4% (26) -1.8% -6.1 3 Net Interest Income 153 2.6% 20 37 2.6% 38 2.6% 0.8 4 Fees/ FX 39
Slide 8: Capital & Leverage Ratios
Capital & Leverage Ratios Tier 1 Capital Risk Weighted Assets (RWA) 650 13.4% 13.5% 4,500 13% 4,463 Minimum 600 4,450 Capital- KD Million 602 11% 12% 550 575 9% % of RWA 4,400 KD Million 500 7% +5% 4,350 450 4,305 +4% 5% 4,300 400 3% 4,250 350 1% 31-Mar-18 31-Mar-19 4,200 31-Mar-18 31-Mar-19 Tier I
Slide 9: Liquidity Ratios
Liquidity Ratios Liquidity Coverage Ratio Net Stable Funding Ratio 299% 290% 120% 115% 268% Minimum 104% 100% 100% 240% 80% 190% 60% 140% Minimum 100% 40% 90% 20% Q1-18 Daily Average Q1-19 Daily Average 31-Mar-18 31-Mar-19 9
Slide 10: Q&A
Q&A 10