Al Salam Bank B.S.C. (BAX:SALAM)

Al Salam Bank B.S.C. Income Statement

Financials in millions BHD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	358.44	333.38	222.76	129.94	98.78	94.34
Total Interest Income	358.44	333.38	222.76	129.94	98.78	94.34
Interest Paid on Borrowings	44.89	41.89	33.96	11	7.03	9.82
Total Interest Expense	44.89	41.89	33.96	11	7.03	9.82
Net Interest Income	313.55	291.49	188.8	118.94	91.75	84.52
Net Interest Income Growth (YoY)	50.77%	54.39%	58.74%	29.63%	8.55%	26.10%
Gain (Loss) on Sale of Assets	-	-	-	-0.02	0.17	-0.08
Gain (Loss) on Sale of Investments	-0.77	-0.77	-9.13	2.51	-0.05	-9.12
Gain (Loss) on Sale of Equity Investments	18.69	18.17	21.04	9.33	2.7	1.95
Other Non-Interest Income	42.42	40.02	29.03	-34.15	-28.06	-18.11
Total Non-Interest Income	60.34	57.42	40.94	-22.34	-25.25	-25.35
Non-Interest Income Growth (YoY)	38.97%	40.26%	-	-	-	-
Revenues Before Loan Losses	373.89	348.91	229.74	96.6	66.5	59.17
Provision for Loan Losses	27.53	21.17	22.99	12.68	12.51	18.28
Revenue	346.36	327.74	206.75	83.91	53.99	40.89
Revenue Growth (YoY)	52.10%	58.52%	146.38%	55.44%	32.02%	-21.45%
Salaries and Employee Benefits	46.64	44.35	31.77	23.56	17.03	14.76
Occupancy Expenses	8.06	8.06	4.32	2.29	1.28	1.88
Selling, General & Administrative	4.49	4.49	3.42	1.99	1.87	2.29
Other Non-Interest Expense	210.25	197.53	130.12	22.8	12.82	11.09
Total Non-Interest Expense	269.44	254.43	169.62	50.64	33	30.03
EBT Excluding Unusual Items	76.92	73.31	37.13	33.27	20.99	10.87
Asset Writedown	-	-	-	-0.2	-0.11	-1.75
Other Unusual Items	2.68	2.68	15.56	-	0.35	-
Pretax Income	79.6	75.99	52.69	33.07	21.22	9.12
Income Tax Expense	6.45	6.49	4.51	-	-	-
Earnings From Continuing Operations	73.16	69.5	48.18	33.07	21.22	9.12
Minority Interest in Earnings	-9.56	-10.49	-5.95	-1.48	0.14	0.02
Net Income	63.6	59.01	42.23	31.59	21.37	9.14
Net Income to Common	63.6	59.01	42.23	31.59	21.37	9.14
Net Income Growth	38.38%	39.75%	33.66%	47.86%	133.72%	-56.66%
Basic Shares Outstanding	2,914	2,867	2,793	2,794	2,891	2,866
Diluted Shares Outstanding	2,914	2,867	2,793	2,794	2,891	2,866
Shares Change (YoY)	5.90%	2.65%	-0.05%	-3.35%	0.85%	-1.10%
EPS (Basic)	0.02	0.02	0.02	0.01	0.01	0.00
EPS (Diluted)	0.02	0.02	0.02	0.01	0.01	0.00
EPS Growth	30.67%	36.14%	33.73%	52.98%	131.76%	-56.18%
Dividend Per Share	0.006	0.006	0.006	0.004	0.003	0.004
Dividend Growth	-9.68%	-9.68%	47.62%	27.27%	-15.38%	-35.00%
Effective Tax Rate	8.10%	8.54%	8.56%	-	-	-

Updated Feb 6, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.