Gulf Bank K.s.c. · KSE:GBK
Gulf Bank K.s.c — Gulf Bank — H1 2021 Earnings Presentation
12 slides from Gulf Bank K.s.c's earnings presentation, Aug 3, 2021
Slide 1: Gulf Bank Earnings Presentation 1st Half 2021
Gulf Bank Earnings Presentation 1st Half 2021 3rd August 2021 [GBK Classification: PUBLIC]
Slide 2: 1st Half 2021 Key Highlights
1st Half 2021 Key Highlights 1 Net Profit 2 Operating Income 16.5 +40% +8% 83.2 77.2 KD millions 11.8 KD millions H1 2020 H1 2021 H1 2020 H1 2021 3 Asset Quality 4 Capital Ratios 5 Credit Ratings Tier 1 % CAR % Current Old Credit Rating Criteria Outlook Rating 325% Coverage Ratio(1) 443% Minimums Mi
Slide 3: 1st Half 2021 Net Profit vs. 1st Half 2020 Net Profit Evolution
1st Half 2021 Net Profit vs. 1st Half 2020 Net Profit Evolution ROE 3.7% +1.3% +0.8% -0.2% -2.1% +1.7% 5.2% 20 ( 0.5 ) 2.6 15 ( 6.7 ) 4.0 5.4 KD Million 10 16.5 11.8 5 0 Net Profit Net Interest Income Fees/ Foreign Exchange Other Income Operating Expenses Credit Net Profit H1 2020 Income Costs (1) H
Slide 4: Income Statement
Income Statement Q1 Q2 Q3 Q4 Q1 Q2 Q2 21A vs Q2 20A H1 H1 H1 21A vs H1 20A KD Millions 2020A 2020A 2020A 2020A 2021A 2021A Amt % 2020A 2021A Amt % 1 Interest Income 58.0 55.2 49.3 46.8 45.3 46.0 (9.3) -17% 113.3 91.2 (22.0) -19% 2 Interest Expense (29.1) (22.8) (17.8) (14.8) (12.6) (13.3) 9.6 42% (5
Slide 5: Balance Sheet
Balance Sheet Var June 21 vs June 20 Var June 21 vs Dec 20 KD Millions 30-Jun-20 % of Total 31-Dec-20 % of Total 30-Jun-21 % of Total Amount % Amount % ASSETS 1 Cash and cash equivalents 812 13% 1,106 18% 1,101 17% 289 36% (5) 0% 2 Kuwait Government Bonds 166 3% 109 2% 91 1% (75) -45% (18) -16% 3 CB
Slide 6: Total Credit Provisions exceed IFRS accounting requirements by KD 107 million
Total Credit Provisions exceed IFRS 9 accounting requirements by KD 107 million Total Provisions on Credit Facilities Comparison between total provisions and IFRS 9 Expected Credit Loss (ECL) on credit facilities 400 30 June 31 Dec 30 June (KD Millions) 2020 2020 2021 325 298 Provision on cash facil
Slide 7: With stable Gross Loans stage composition and coverage
With stable Gross Loans stage composition and coverage Gross Loans by Stages %(1) 30-Jun-20 31-Dec-20 30-Jun-21 7.7% 2.2% 6.1% 1.1% 5.6% 1.5% Stage 1 KD KD KD Stage 2 4.70 bn 4.58 bn 4.80 bn Stage 3 90.0% 92.8% 92.9% IFRS 9 ECL by Stages % IFRS 9 ECL Coverage by Total Credit Facilities Stages %(2) 2
Slide 8: Capital and Leverage Ratios
Capital and Leverage Ratios Tier I Capital(1)(3) Risk Weighted Assets 1,000 18% 6,000 14.9% 14.3% 16% 13.4% 5,000 4,687 4,576 4,674 800 14% 12% Minimum 4,000 600 680 668 9.5% 630 10% 3,000 8% 400 6% 2,000 KD Million KD Million % of RWA 200 4% 1,000 2% - 0% - 30-Jun-20 31-Dec-20 30-Jun-21 30-Jun-20 3
Slide 9: Liquidity Ratios
Liquidity Ratios Liquidity Coverage Ratio(1) Net Stable Funding Ratio(1) 400% 150% 324% 300% 111% 110% 300% 109% 100% 206% Minimum 200% 80% 50% 100% Minimum 80% 0% 0% 30-Jun-20 31-Dec-20 30-Jun-21 30-Jun-20 31-Dec-20 30-Jun-21 (1) Liquidity Coverage Ratio and Net Stable Funding Ratio regulatory mini
Slide 10: 'A' ratings from three major credit rating agencies
‘A’ ratings from three major credit rating agencies Rating Agency Criteria Rating Long-Term Deposits A3 Outlook Stable Long-Term Issuer Default Rating A+ Outlook Negative Long-Term Foreign Currency A+ Outlook Stable Issuer Credit Rating BBB+ Outlook Stable 10 [GBK Classification: PUBLIC]
Slide 11: 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] 11 [GBK Classification: PUBLIC]
Slide 12: 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