9M'21 Performance: Kuwait & International Operations
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Summary
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2
PERFORMANCE HIGHLIGHTS
Solid Revenue
Levels
Stable Margins(1)
Reduced
Credit Costs(2)
Healthy Bottomline(3)
Q3'21
KD 55mn
(-)KD 2mn y-o-y(4)
2.1%
(-)10bpsy-o-y(4)
KD 9mn
(-)61.8%y-o-y(4)
KD 16mn
+65.3% y-o-y(4)
9M'21
KD 167mn
+KD 2mn y-o-y(5)
2.1%
(-)20bpsy-o-y(5)
KD 48mn
(-)11.6%y-o-y(5)
KD 40mn
+23.6% y-o-y(5)
Notes: (1) Refers to Net Interest Margins; annualized; (2) Refer to Loan Loss Provisions; (3) Refers to Net Income attributed to equity
holders of bank before perpetual cost; (4) Compared to Q3'20; (5) Compared to 9M'20.
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SOLID REVENUE LEVELS WITH STABLE MARGINS
Revenue | KD mn
Net Interest Margins* | %
165
167
2.3%
2.2%
2.1%
2.1%
81
71
1.6%
1.5%
1.6%
1.6%
57
55
89
98
27
23
33
35
9M'20
9M'21
Q3'20
Q3'21
9M'20
9M'21
Q3'20
Q3'21
Kuwait
International
Consol. Adj & Others
NIM - Kuwait
NIM - Group
Operating Profit | KD mn
Cost to Income Ratio** | %
46.2%
96
96
41.9%
42.1%
39.0%
45
38
36.7%
34.6%
33.1%
33.1%
35
29
58
66
16
12
22
22
9M'20
9M'21
Q3'20
Q3'21
9M'20
9M'21
Q3'20
Q3'21
Kuwait
International
Consol. Adj & Others
CIR - Kuwait
CIR - Group
* NIMs have been annualized; ** Cost to Income ratio has been computed as Operating Expenses / Revenues.
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STRONG REBOUND IN BOTTOM-LINE
Loan Loss Provisions | KD mn
Cost of Credit(1) | %
5448
22
9
9M'20
9M'21
Q3'20
Q3'21
Net Income(2) & Returns(3) | KD mn
1.9%
1.6%
1.4%
0.7%
0.9%
0.9%
0.9%
0.7%
9M'20
9M'21
Q3'20
Q3'21
CoC - Kuwait
CoC - Group
Earnings Per Share (EPS)(4) | Fils
6.6%
8.4%
4.6%
4.1%
13
33
40
1016
10
4
6
9M'20
9M'21
Q3'20
Q3'21
9M'20
9M'21
Q3'20
Q3'21
Net Income
RoE
Notes: (1) Cost of Credit based on Loan Loss Provisions over Gross Loans; annualized; (2) Net Income attributed to equity holders of bank
before perpetual cost; (3) ROE is based on Net Income after perpetual cost and calculated on opening equity; RoE% annualized; (4) EPS as
reported in financials.
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Disclaimer
Burgan Bank SAKP published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 14:17:22 UTC.
Burgan Bank KPSC is a Kuwait-based entity which is primarily engaged in banking and investment services to individuals and corporations. The Bank is organized into four business segments which includes corporate banking segment provides comprehensive product and services to corporate customers and financial institutions including lending, deposits, trade services, foreign exchange, advisory services; Retail and Private banking segment provides wide range of products and services to retail and private bank customers including loans, deposits, credit and debit cards, foreign exchange; Treasury and investment banking segment includes treasury activities, investment services and management. It also provides products and services to banks including money markets, lending, deposits, foreign exchange; Central office segment includes liquidity and funding management, any residual in respect of transfer pricing and other unallocated activities.