Gulf Bank K.S.C. · KSE:GBK
Gulf Bank K.S.C — Gulf Bank — FY2019 Earnings Presentation
13 slides from Gulf Bank K.S.C's earnings presentation, Feb 11, 2020
Slide 1: Gulf Bank Earnings Call Year End 2019
Gulf Bank Earnings Call Year End 2019 Gulf Bank Earnings Call Year End 2019 11 February 2020
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: 2019 Net profit up 12% to KD 63.6 million
1. 2019 Net profit up 12% to KD 63.6 million 70.0 63.6 +12% 60.0 56.7 50.0 KD Million 40.0 30.0 20.0 10.0 2018 2019 3
Slide 4: Earnings per share up 12% to 22 fils; recommending dividend of 11 fils
2. Earnings per share up 12% to 22 fils...Recommending dividend of 11 fils per share (50% payout ratio) 25 22 20 +12% 20 15 Fils 10 5 10 11 0 2018 DPS EPS 2019 Payout Ratio 51% 50% Note: 2019 Dividends are subject to AGM Approval 4
Slide 5: Customer Loans reached another all-time high of KD 4.5 billion
3. Customer Loans reached another all-time high of KD 4.5 billion.. up KD 261 million (+6.2%) vs. 2018 5,000 4,506 4,244 4,060 4,000 3,756 3,000 2,915 KD Million 2,787 2,749 2,509 2,000 1,000 1,457 1,590 1,247 1,310 - 2016 2017 2018 2019 Consumer Corporate 5
Slide 6: Non-performing loans stabilizing near industry norms
4. Non-performing loans stabilizing near industry norms 150 3.0% 2.4% 2.5% 120 2.0% 1.7% 90 KD Million 1.5% 60 1.1% 1.0% 1.0% 30 0.5% 0 0.0% 2016 2017 2018 2019 NPL % NPL Ratio 6
Slide 7: Maintaining 'A' ratings from all four major credit rating agencies
5. Maintaining ‘A’ ratings from all four major credit rating agencies Rating Agency Criteria Rating Long-Term Deposits A3 Outlook Positive Long-Term Issuer Default Rating A+ Outlook Stable Issuer Credit Rating A- Outlook Stable Long-Term Foreign Currency A+ Outlook Stable 7
Slide 8: Balance Sheet
Balance Sheet 31-Dec-19 KD Millions 31-Dec-18 % of Total 31-Dec-19 % of Total vs 31-Dec-18 ASSETS 1 Cash and cash equivalents 742 12% 848 14% 106 14% 2 Kuwait Government Bonds 396 7% 232 4% (164) -41% 3 CBK Bills 322 5% 279 4% (43) -13% 4 Deposits with banks and OFIs 157 3% 128 2% (28) -18% 5 Liquid
Slide 9: Total Credit Provisions exceed IFRS9 accounting requirements by KD 106 million
Total Credit Provisions exceed IFRS9 accounting requirements by KD 106 million Comparison between total provisions and IFRS 9 Excess Credit Loss Total Credit Provision (ECL) on credit facilities 350 312 296 300 (KD Millions) 2018 2019 250 112 106 Provision on cash facilities 296 282 KD Million 200 P
Slide 10: Income Statement
Income Statement % of Avg. % of Avg. % of Avg. KD Millions 2017 17 vs 16 2018 18 vs 17 2019 19 vs 18 Assets Assets Assets 1 Interest Income 206 3.7% 26 15% 243 4.2% 37 18% 276 4.6% 33 14% 2 Interest Expense (74) -1.3% (11) -17% (90) -1.5% (16) 22% (111) -1.8% (21) 23% 3 Net Interest Income 132 2.36%
Slide 11: Capital Ratios well above regulatory requirements
Capital Ratios well above regulatory requirements Tier I Capital* Risk Weighted Assets 15% 4,900 4,809 14.1% 13.8% 700 13% Minimum 4,700 650 12% 4,466 664 11% 4,500 Capital- KD Million +5.7% +7.7% 600 629 % of RWA KD Million 9% 4,300 550 7% 4,100 500 5% 3,900 450 3% 3,700 400 1% 3,500 2018 Tier I Ca
Slide 12: Liquidity Ratios
Liquidity Ratios Liquidity Coverage Ratio Net Stable Funding Ratio 350% 325% 313% 120% 120% 300% 111% Minimum 100% 100% 250% 80% 200% 60% 150% Minimum 100% 40% 100% 50% 20% 0% 0% 2018 2019 2018 2019 12
Slide 13: Q&A Gulf Bank Investor Relations Team
Q&A Gulf Bank Investor Relations Team Tel : +965 22449501 Fax : +965 2243-7872 P.O. Box 3200, Safat, 13032 Kuwait [email protected] 13