Gulf Bank K.S.C.P. (KWSE:GBK)

Gulf Bank K.S.C.P. Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	389.81	403.48	369.97	244.46	185.99	209.35
Interest Income on Investments	0.96	1	1.01	0.8	0.68	0.57
Total Interest Income	390.77	404.48	370.98	245.26	186.67	209.92
Interest Paid on Deposits	238.46	247.23	219.53	102.27	53.68	84.58
Net Interest Income	152.31	157.25	151.45	142.99	132.99	125.34
Net Interest Income Growth (YoY)	-3.23%	3.83%	5.91%	7.52%	6.11%	-24.28%
Gain (Loss) on Sale of Investments	0.04	0.06	0.1	0.04	-0.11	0.12
Other Non-Interest Income	41.89	42.08	38.81	38.07	37.07	32.93
Total Non-Interest Income	41.93	42.14	38.92	38.11	36.96	33.05
Non-Interest Income Growth (YoY)	11.69%	8.28%	2.12%	3.12%	11.82%	-21.52%
Revenues Before Loan Losses	194.25	199.39	190.36	181.1	169.95	158.39
Provision for Loan Losses	40.19	43.56	28.59	29.87	47.49	63.18
Revenue	154.06	155.83	161.77	151.23	122.46	95.21
Revenue Growth (YoY)	-0.70%	-3.68%	6.97%	23.50%	28.62%	-34.80%
Salaries and Employee Benefits	53.75	53.49	53.87	55.55	47.71	36.87
Occupancy Expenses	8.64	8.12	7.17	6.83	6.82	7.62
Selling, General & Administrative	2.95	3.02	3.28	2.91	2.81	2.9
Other Non-Interest Expense	31.56	29.77	24.67	22.71	22.12	17.42
Total Non-Interest Expense	97.49	95.03	89.74	88.65	79.9	65.12
EBT Excluding Unusual Items	56.57	60.8	72.03	62.58	42.55	30.09
Asset Writedown	-	-	-0.07	-0.13	-	-0.99
Pretax Income	56.57	60.8	71.96	62.45	42.55	29.1
Income Tax Expense	0.58	0.62	0.75	0.65	0.45	0.3
Net Income	56	60.17	71.21	61.8	42.11	28.8
Net Income to Common	56	60.17	71.21	61.8	42.11	28.8
Net Income Growth	-11.93%	-15.50%	15.22%	46.78%	46.20%	-54.75%
Basic Shares Outstanding	3,983	3,987	3,731	3,792	3,657	3,559
Diluted Shares Outstanding	3,983	3,987	3,731	3,792	3,657	3,559
Shares Change (YoY)	2.80%	6.85%	-1.59%	3.68%	2.76%	1.02%
EPS (Basic)	0.01	0.02	0.02	0.02	0.01	0.01
EPS (Diluted)	0.01	0.02	0.02	0.02	0.01	0.01
EPS Growth	-14.33%	-20.92%	17.08%	41.58%	42.28%	-55.21%
Dividend Per Share	0.009	0.009	0.011	0.009	0.006	0.004
Dividend Growth	-12.84%	-12.84%	25.29%	52.63%	39.02%	-54.95%
Effective Tax Rate	1.02%	1.03%	1.04%	1.04%	1.05%	1.04%

Updated Feb 10, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.