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Investor Presentaiton

Income Statement, National Bank of Iraq All values in USD thousands 2015 2016 2017 2018 2019 CAGR June 2019 June 2020 Growth Interest Income/ Lending 16,578 13,248 7,064 6,579 13,415 -5.2% 4,109 9,382 128% Commission Income/ Transaction 8,486 19,653 26,971 14,787 17,569 20.0% 9,030 9,628 7% Markets & Investment Banking 3,258 10,291 2,174 (4,501) 5,960 16.3% 3,322 6,434 94% Total Revenues 28,321 43,191 36,209 16,865 36,943 6.9% 16,460 25,444 55% Cost of Fund Gross Operating Income (6,054) (3,902) (5,499) (3,432) (4,946) -4.9% (1,878) (3,288) 75% 22,267 39,289 30,710 13,432 31,998 9.5% 14,582 22,156 52% Operating Expenses, Staff (4,745) (5,017) (5,716) (5,596) (5,832) 5.3% (2,789) (3,600) 29% Operating Expenses, Other (8,243) (8,478) (9,296) (11,090) (10,584) 6.4% (4,359) (5,397) 24% Net Operating Income 9,279 25,794 15,698 (3,253) 15,582 13.8% 7,434 13,159 77% Provisions & Non-Recurring (21,653) (8,727) (2,418) 16,801 (1,375) (154) (1,219) Income Tax (1,910) (3,412) (2,356) (1,982) (469) (886) (1,861) Net Income (14,284) 13,655 10,924 11,566 13,738 NA 6,394 10,079 58% Net Interest Margin 8.52% 8.84% 4.15% 4.99% 7.53% 4.52% 6.89% Efficiency Ratio (Ex. Dep.) 53.5% 29.1% 43.1% 110.6% 45.7% 42.7% 35.7% ROE -6.52% 6.59% 5.11% 5.57% 6.69% 6.34% 9.41% 23 23
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