Gulf Bank K.s.c. · KSE:GBK
Gulf Bank K.s.c — Gulf Bank — Q1 2021 Earnings Presentation
11 slides from Gulf Bank K.s.c's earnings presentation, May 4, 2021
Slide 1: Gulf Bank Earnings Presentation 1st Quarter 2021
Gulf Bank Earnings Presentation 1st Quarter 2021 4th May 2021
Slide 2: 1st Quarter 2021 Key Highlights
1st Quarter 2021 Key Highlights 1 Net Profit 2 Operating Income 12.0 +39% +8% 41.5 38.3 8.6 KD millions KD millions Q1 2020 Q1 2021 Q1 2020 Q1 2021 3 Asset Quality 4 Capital Ratios 5 Credit Ratings Credit Rating Criteria Outlook Rating Current Old Tier 1… Minimums Minimums A3 Stable 465% Coverage Ra
Slide 3: Income Statement
Income Statement Q1 Q2 Q3 Q4 Q1 Q1 21A vs Q1 20A KD Millions 2020A 2020A 2020A 2020A 2021A Amt % 1 Interest Income 58.0 55.2 49.3 46.8 45.3 (12.8) -22% 2 Interest Expense (29.1) (22.8) (17.8) (14.8) (12.6) 16.5 57% 3 Net Interest Income 28.9 32.4 31.5 32.0 32.6 3.7 13% 4 Fees/ FX Income 8.8 6.3 7.4
Slide 4: Balance Sheet
Balance Sheet Var March 21 vs March 20 Var March 21 vs Dec 20 KD Millions 31-Mar-20 % of Total 31-Dec-20 % of Total 31-Mar-21 % of Total Amount % Amount % ASSETS 1 Cash and cash equivalents 1,012 16% 1,106 18% 1,102 18% 89 9% (4) 0% 2 Kuwait Government Bonds 188 3% 109 2% 109 2% (79) -42% 0 0% 3 CBK
Slide 5: Total Credit Provisions exceed IFRS accounting requirements by KD 96 million
Total Credit Provisions exceed IFRS 9 accounting requirements by KD 96 million Total Provisions on Credit Facilities Comparison between total provisions and IFRS 9 Expected Credit Loss (ECL) on credit facilities 400 31 March 31 Dec 31 March (KD Millions) 2020 2020 2021 308 293 Provision on cash faci
Slide 6: With stable Gross Loans stage composition and coverage
With stable Gross Loans stage composition and coverage Gross Loans by Stages %(1) 31-Mar-20 31-Dec-20 31-Mar-21 7.9% 1.5% 6.1% 1.1% 5.9% 1.6% Stage 1 KD KD KD Stage 2 4.76 bn 4.58 bn 4.69 bn Stage 3 90.6% 92.8% 92.5% IFRS 9 ECL by Stages % IFRS 9 ECL Coverage by Total Credit Facilities Stages %(2) 2
Slide 7: Capital and Leverage Ratios
Capital and Leverage Ratios Tier I Capital(1)(3) Risk Weighted Assets 1,000 18% 6,000 14.3% 16% 4,860 13.0% 5,000 4,649 800 14% 12% Minimum 4,000 600 667 9.5% 630 10% 3,000 8% 400 6% 2,000 KD Million KD Million % of RWA 200 4% 1,000 2% - 0% - 31-Mar-20 31-Mar-21 31-Mar-20 31-Mar-21 Tier 1 Capital Ti
Slide 8: Liquidity Ratios
Liquidity Ratios Liquidity Coverage Ratio(1) Net Stable Funding Ratio(1) 400% 150% 333% 300% 109% 110% 278% 100% Minimum 200% 80% 50% 100% Minimum 80% 0% 0% 31-Mar-20 31-Mar-21 31-Mar-20 31-Mar-21 (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 Gulf Bank
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