Balance Sheet Kuwait Finance House K.S.C.P.

Equities

KFH

KW0EQ0100085

Banks

End-of-day quote Kuwait S.E. Other stock markets 2024-09-18			5-day change	1st Jan Change
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Aug. 23	Kuwait Finance House to Sell Entire Stake in Sharjah Islamic Bank for AED1.3 Billion	MT
Aug. 20	Messrs Endowment of Sheikh Sultan bin Mohammed bin Saqer Al Qasimia and Sharjah Social Security Fund has signed an Off-Market Sale and Transfer of Shares agreement to acquire unknown minority stake in Sharjah Islamic Bank PJSC from Kuwait Finance House K.S.C.P..	CI

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Published financial data: KUWAIT FINANCE HOUSE K.S.C.P.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	932M	893M	871M	1.32B	2.19B
Interest Income, Total	932M	893M	871M	1.32B	2.19B
Interest On Deposits	401M	279M	286M	522M	1.23B
Interest Expense, Total	401M	279M	286M	522M	1.23B
Net Interest Income	530M	614M	586M	801M	966M
Gain (Loss) on Sale of Assets	20.08M	15.22M	20.38M	3.67M	71.7M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	32.64M	-6.12M	15.39M	7.45M	100M
Income (Loss) on Equity Invest. (Income Block)	22.41M	-7.06M	-3.36M	7.05M	30.43M
Total Other Non Interest Income	209M	179M	193M	254M	292M
Non Interest Income, Total	284M	181M	225M	272M	495M
Revenues Before Provison For Loan Losses	814M	796M	811M	1.07B	1.46B
Provision For Loan Losses	187M	258M	133M	50.19M	41.42M
Total Revenues	628M	538M	678M	1.02B	1.42B
Salaries And Other Employee Benefits	182M	172M	184M	209M	287M
Occupancy Expense	42.99M	42.6M	41.78M	45.32M	78.58M
Selling General & Admin Expenses, Total	79.78M	81.76M	83.28M	95.68M	151M
Total Other Non Interest Expense	-	-	-	-	-
Non Operating (Income) Expenses	-	-	-	-	-
Non Interest Expense, Total	305M	297M	309M	350M	517M
EBT, Excl. Unusual Items	322M	241M	369M	672M	903M
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-10.03M	-26.51M	-1.9M	-11.89M	-2.95M
Other Unusual Items	-	-	-	-128M	-72.81M
EBT, Incl. Unusual Items	312M	215M	367M	532M	827M
Income Tax Expense	50.46M	30.66M	56.47M	97.88M	152M
Earnings From Continuing Operations	262M	184M	310M	435M	675M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	262M	184M	310M	435M	675M
Minority Interest	-10.8M	-35.82M	-66.72M	-76.89M	-90.58M
Net Income - (IS)	251M	148M	243M	358M	585M
Preferred Dividend and Other Adjustments	-	-	4.08M	14.52M	21.73M
Net Income to Common Incl Extra Items	251M	148M	239M	343M	563M
Net Income to Common Excl. Extra Items	251M	148M	239M	343M	563M
Per Share Items
Net EPS - Basic	0.02	0.01	0.02	0.03	0.04
Basic EPS - Continuing Operations	0.02	0.01	0.02	0.03	0.04
Basic Weighted Average Shares Outstanding	10.99B	11.03B	11.04B	12.26B	15.94B
Net EPS - Diluted	0.02	0.01	0.02	0.03	0.04
Diluted EPS - Continuing Operations	0.02	0.01	0.02	0.03	0.04
Diluted Weighted Average Shares Outstanding	10.99B	11.03B	11.04B	12.26B	15.94B
Normalized Basic EPS	0.02	0.01	0.01	0.03	0.03
Normalized Diluted EPS	0.02	0.01	0.01	0.03	0.03
Dividend Per Share	0.01	0.01	0.01	0.01	0.02
Payout Ratio	49.83	92.98	32.94	32.39	62.52
Supplemental Items
Effective Tax Rate - (Ratio)	16.16	14.27	15.4	18.38	18.36
Normalized Net Income	191M	115M	164M	343M	474M
Non-Cash Pension Expense	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.52B	3.35B	2.89B	3.2B	3.05B
Investment Securities, Total	2.87B	3.07B	3.03B	6.44B	7.26B
Trading Asset Securities, Total	122M	386M	412M	650M	774M
Total investments	2.99B	3.46B	3.45B	7.09B	8.04B
Gross Loans	11.13B	12.7B	13.38B	21.4B	22.52B
Allowance For Loan Losses	-473M	-571M	-651M	-887M	-948M
Other Adjustments to Gross Loans	-1.32B	-1.39B	-1.38B	-1.67B	-2.15B
Net Loans	9.34B	10.75B	11.36B	18.84B	19.43B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	229M	230M	204M	335M	359M
Goodwill	292K	-	-	2.13B	2.1B
Other Intangibles, Total	31.04M	32.39M	32.35M	335M	299M
Investment in Real Estate	455M	351M	325M	384M	377M
Other Receivables	2.51B	1.73B	1.61B	2.55B	1.79B
Restricted Cash	757M	821M	1.24B	1.45B	1.86B
Other Current Assets, Total	275M	162M	254M	246M	208M
Deferred Tax Assets Long-Term (Collected)	22.54M	43.94M	48.31M	28.94M	74.63M
Other Long-Term Assets, Total	265M	575M	383M	385M	433M
Total Assets	19.39B	21.5B	21.79B	36.97B	38.01B
Liabilities
Accounts Payable, Total	197M	222M	248M	274M	340M
Accrued Expenses, Total	293M	186M	177M	246M	192M
Interest Bearing Deposits	13.55B	15.32B	15.87B	22.48B	21.81B
Non-Interest Bearing Deposits	-	-	-	-	-
Total Deposits	13.55B	15.32B	15.87B	22.48B	21.81B
Short-Term Borrowings	-	-	-	75.08M	95.48M
Current Portion of Long-Term Debt	2.14B	2.82B	2.59B	5.31B	5.72B
Current Portion of Leases	-	-	-	-	-
Long-Term Debt	603M	453M	224M	1.66B	2.9B
Long-Term Leases	-	-	-	-	-
Other Current Liabilities - (Bank / Utility Template)	57.58M	66.93M	72.95M	84.34M	62.97M
Unearned Revenue Non Current	31.65M	34.22M	34.31M	10.82M	10.39M
Pension & Other Post Retirement Benefits	76.1M	78.2M	84.62M	110M	117M
Other Non Current Liabilities	193M	227M	186M	434M	597M
Total Liabilities	17.15B	19.4B	19.48B	30.68B	31.85B
Common Stock, Total	698M	767M	844M	1.34B	1.48B
Additional Paid In Capital	732M	735M	735M	3.63B	3.63B
Retained Earnings	828M	647M	701M	884M	1.03B
Treasury Stock	-36.24M	-27.74M	-27.74M	-41.76M	-113M
Comprehensive Income and Other	-161M	-186M	-94.47M	48.15M	-205M
Total Common Equity	2.06B	1.94B	2.16B	5.86B	5.82B
Minority Interest	183M	165M	149M	427M	345M
Total Equity	2.24B	2.1B	2.31B	6.29B	6.16B
Total Liabilities And Equity	19.39B	21.5B	21.79B	36.97B	38.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	11.01B	11.04B	11.04B	15.98B	15.87B
ECS Total Common Shares Outstanding	11.01B	11.04B	11.04B	15.98B	15.87B
Book Value / Share	0.19	0.18	0.17	0.34	0.33
Tangible Book Value	2.03B	1.9B	2.13B	3.4B	3.42B
Tangible Book Value Per Share	0.18	0.17	0.17	0.18	0.18
Total Debt	2.75B	3.27B	2.81B	7.04B	8.71B
Deposits at Interest - Cash	1.65B	2.62B	2.13B	1.97B	1.71B
Net Debt	105M	-469M	-489M	3.19B	4.89B
Equity Method Investments, Total	504M	521M	492M	520M	543M
Full Time Employees	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	251M	148M	243M	358M	585M
Depreciation, Depletion & Amortization	39.03M	40.28M	38.41M	36.35M	48.73M
Amortization of Goodwill and Intangible Assets - (CF)	3.96M	2.31M	3.37M	8.97M	29.85M
Total Depreciation, Depletion & Amortization	42.99M	42.6M	41.78M	45.32M	78.58M
(Gain) Loss On Sale of Asset - (CF)	-17.9M	-12.62M	-14.02M	-1.3M	-60.4M
(Gain) Loss on Sale of Investments - (CF)	-16.4M	70.32M	-19.31M	21.55M	-93.41M
Total Asset Writedown	21.82M	26.51M	1.9M	11.89M	2.95M
Provision for Credit Losses	199M	185M	147M	39.08M	78.39M
(Income) Loss On Equity Investments - (CF)	-22.41M	7.06M	3.36M	-7.05M	-30.43M
Change In Inventories	42.64M	4.64M	6.09M	1.19M	-10.16M
Change in Other Net Operating Assets (Collected)	-1.49B	-1.28B	-1.54B	-250M	-870M
Other Operating Activities	-75.65M	41.74M	54.24M	183M	114M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	-1.07B	-768M	-1.08B	401M	-206M
Capital Expenditure	-33.83M	-34.44M	-18.83M	-22.23M	-35.22M
Sale of Property, Plant, and Equipment	3.06M	5.44M	9.39M	2.22M	2.61M
Cash Acquisitions	-	-	-	778M	-127M
Divestitures	307K	2.73M	-	3.14M	-
Purchase / Sale of Intangible Assets	-4.59M	-4.41M	39K	-1.54M	-1.89M
Sale (Purchase) of Real Estate Properties (Collected)	38.61M	15.58M	39.84M	34.48M	97.07M
Investment in Marketable and Equity Securities, Total	152M	-3.36M	-14.22M	17.94M	-54.73M
Other Investing Activities, Total	14.43M	17.27M	6.69M	14.43M	15.02M
Cash from Investing	170M	-1.19M	22.92M	827M	-104M
Long-Term Debt Repaid, Total	-	-4.86M	-98.39M	-98.86M	-149M
Total Debt Repaid	-	-4.86M	-98.39M	-98.86M	-149M
Issuance of Common Stock	13.16M	11.63M	226M	-	-
Repurchase of Common Stock	-	-	-	-14.02M	-71.34M
Common Dividends Paid	-125M	-138M	-80.18M	-116M	-365M
Common & Preferred Stock Dividends Paid	-125M	-138M	-80.18M	-116M	-365M
Net Increase (Decrease) in Deposit Accounts - (CF)	1.77B	1.76B	550M	-681M	782M
Other Financing Activities, Total	-14.28M	-32.54M	-7.74M	-5.59M	-40.56M
Cash from Financing	1.65B	1.6B	589M	-915M	156M
Net Change in Cash	750M	832M	-463M	313M	-153M
Supplemental Items
Net Debt Issued / Repaid	-	-4.86M	-98.39M	-98.86M	-149M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.41	0.9	1.43	1.48	1.8
Return On Equity %	12.13	8.48	14.07	10.11	10.85
Return on Common Equity	12.7	7.43	11.69	8.56	9.64
Shareholders Value Added	17.73M	-89.08M	1.11M	-114M	-86.3M
Margin Analysis
SG&A Margin	48.64	55.13	45.61	34.25	36.41
Net Interest Income / Total Revenues %	84.5	114.16	86.44	78.32	68.05
EBT Excl. Non-Recurring Items Margin %	51.36	44.87	54.39	65.75	63.59
Income From Continuing Operations Margin %	41.72	34.24	45.77	42.52	47.56
Net Income Margin %	40	27.58	35.93	35	41.18
Net Avail. For Common Margin %	40	27.58	35.32	33.58	39.65
Normalized Net Income Margin	30.38	21.38	24.15	33.57	33.36
Asset quality
Nonperforming Loans / Total Loans %	1.9	2.07	1.53	1.27	1.43
Nonperforming Loans / Total Assets %	1.09	1.22	0.94	0.73	0.85
Nonperforming Assets / Total Assets %	1.09	1.22	0.94	0.73	0.85
NPAs / Loans and OREO	1.9	2.07	1.53	1.27	1.43
NPAs / Equity	9.41	12.52	8.86	4.32	5.22
Allowance for Credit Losses / Net Charge-offs %	373.54	665.26	967.88	1.83K	2.1K
Allowance for Credit Losses / Nonperforming Loans %	224.15	216.98	318.67	326.89	294.46
Allowance for Credit Losses / Total Loans %	4.25	4.49	4.87	4.14	4.21
Provision for Loan Losses / Net Charge-offs %	147.54	300.08	198.32	103.46	91.95
Capital And Funding
Total Average Common Equity / Total Average Assets %	10.64	9.77	9.46	13.65	15.57
Total Average Equity / Total Average Assets %	11.62	10.62	10.18	14.62	16.6
Total Equity + Allowance for Loan Losses / Total Loans %	22.75	19.73	21	31.53	30.05
Gross Loans / Total Deposits %	82.16	82.94	84.34	95.18	103.24
Net Loans / Total Deposits %	68.89	70.17	71.57	83.8	89.05
Tier 1 Capital Ratio %	16.11	15.97	17.16	15.99	16.43
Total Capital Ratio %	17.67	17.53	18.69	17.66	18.18
Tier 2 Capital Ratio	1.57	1.56	1.52	1.68	1.75
Coverage Ratio	61.03	56.27	64.62	99.27	104.72
Interbank Ratio	102.04	62.92	80.22	48.38	33.07
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	1.78	1.77	2.28	2.02	1.67
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	0.57	15.84	-4.64	36.67	20.66
Non Interest Income, 1 Yr. Growth %	29.9	-36.17	24.22	20.62	82.11
Provision For Loan Losses, 1 Yr. Growth %	107.06	37.82	-48.18	-62.39	-17.47
Total Revenues, 1 Yr. Growth %	-4.31	-14.26	25.93	50.85	38.88
Earnings From Cont. Operations, 1 Yr. Growth %	-0.49	-29.64	68.35	40.13	55.34
Net Income, 1 Yr. Growth %	10.38	-40.88	64.03	46.96	63.4
Normalized Net Income, 1 Yr. Growth %	0.15	-39.65	42.2	109.73	38.03
Diluted EPS Before Extra, 1 Yr. Growth %	10.46	-41.08	61.18	29.17	29.57
Dividend Per Share, 1 Yr. Growth %	9.65	-44.8	31.88	37.36	46.4
Gross Loans, 1 Yr. Growth %	2.77	12.71	5.34	59.9	5.24
Allowance For Loan Losses, 1 Yr. Growth %	26.45	20.68	14.08	36.14	2.35
Net Loans, 1 Yr. Growth %	1.59	13.45	5.66	65.91	3.32
Non Performing Loans, 1 Yr. Growth %	-3.06	24.67	-22.32	32.71	18.64
Non Performing Assets, 1 Yr. Growth %	-3.06	24.67	-22.32	32.71	18.64
Total Assets, 1 Yr. Growth %	9.12	10.89