Over this period, BSF strengthened its core franchises, modernized technology and operating models, and embedded Environmental, Social, and Governance (ESG) principles more deeply into management and decision-making. This disciplined execution enhanced resilience, sharpened customer focus, and reinforced the Bank’s ability to deliver sustainable value as it transitions confidently into its next strategic phase.
It is a pleasure to share BSF’s 2025 Annual Report with our shareholders, regulators, customers, partners, and the wider financial and business community. This inaugural Integrated Annual Report reflects our deepening commitment to ESG accountability and embedding these principles at the heart of our long-term value creation.
Over the past five years, BSF undertook a period of focused transformation, strengthening its core, modernizing its technology foundations, sharpening its customer proposition, and integrating ESG into how it operates. As the cycle concludes, the Board acknowledges the significant advancement made across the Bank’s operations and capabilities.
In 2025, we continued to operate in a competitive and evolving banking environment, characterized by changing customer demographics and expectations, and ongoing pressure on funding and margins. Against this backdrop, we remained focused on balancing profitability, and customer experience – the three pillars that have guided strategic execution in our five-year cycle. Our continued investment in digital transformation and data-enabled decision-making has supported resilience, efficiency, and service quality.
BSF sustained strong momentum in Retail and Personal Banking through digital engagement and product optimization, while Wholesale and Institutional Banking supported national economic priorities. The Bank upheld disciplined risk management and governance. Our subsidiaries, JB and BSF Capital, advanced digital finance and wealth solutions, aligned with our strategic goals.
As a result of these initiatives, the Bank grew net income by 18.0% Year-on-Year (YoY) to X 5.353 billion, with total assets reaching X 309.1 billion, up 5% YoY. The year also saw the loan and advances portfolio rising by 5% YoY to X 214.9 billion, while customer deposits reached X 195.2 billion.
Stakeholders at the Core
Stakeholder trust remains fundamental to BSF’s success. Our shareholders, customers, employees, regulators, and communities play a critical role in shaping the Bank’s long-term resilience. In 2025, we continued to uphold strong governance practices, with Board oversight supported by independent representation and dedicated ESG governance structures.
Our people remain a key driver of our progress. The Bank sustained high Saudization levels and continued our progress on diversity and inclusion, reinforcing the commitment to developing national talent and fostering an inclusive workplace. Investment in capability building and leadership development supports both organizational performance and long-term resilience.
Embedding ESG and Responsible Banking
ESG considerations are embedded across BSF’s operations and decision-making. Building on the ESG framework, we continued to integrate ESG into governance, risk management, financing activities, operations, and community engagement.
In the environmental and social dimensions, we maintained our focus on sustainable finance, financial inclusion, and community investment, whilst strengthening internal ESG capabilities and disclosures.
Enabling the Saudi Vision. Embracing the Future.
BSF remains strongly aligned with the ambitions of Saudi Vision 2030, supporting economic diversification, financial inclusion, and private-sector development. We continued to play an active role in financing priority sectors, enabling small and medium-sized enterprises (SMEs), and contributing to the resilience of the Saudi financial system.
Looking ahead, our 2030 Strategy is designed to build on the Bank’s momentum, advancing growth across core verticals while strengthening digital, risk, and ESG capabilities. The Board remains focused on disciplined execution and positioning BSF as a future-ready financial institution aligned with Saudi Vision 2030.
On behalf of the Board of Directors, I extend my sincere appreciation to our employees, customers, shareholders, regulators, and partners for their continued trust and support.
Together, we are shaping a future built on resilience, growth, and shared values.
Sincerely,
Mazin Al Romaih
Chairman
BSF