BSF reports 7% growth in net income to SAR 4.4 billion for the first nine months of 2026

19/Oct/2026

Share on:

• Total assets SAR 338.6bn, up 8% YoY, mainly driven by increased lending and investments
• Loans and advances up 7% YoY to SAR 230.4bn, supported by higher volumes in both commercial and consumer lending
• Customer deposits SAR 203.2bn, up 9% YoY from increase in interest-bearing deposits
• Net income for 9M 2026 SAR 4,377mn, up 7% YoY on higher operating income
• Operating income SAR 8,419mn in 9M 2026, up 6% YoY, driven by a 6% increase in net interest income and 8% increase in non-interest income
• Net interest margin declined 5bps YoY to 3.01% in 9M 2026
• Cost-to-income ratio at 32.9% for 9M 2026, a modest 17bps increase YoY
• Cost of risk for 9M 2026 stable at 0.43%
• Return on equity at 12.4%, stable YoY
• Capitalization remained strong, while liquidity levels were healthy

Third-quarter net income rises 12% year-on-year to SAR 1.5 billion

Riyadh, Kingdom of Saudi Arabia - 19 October 2026: BSF reported net income of SAR 4,377 million for the nine months ended 30 September 2026, an increase of 7% compared with the same period last year, supported by higher operating income. Third-quarter net income reached SAR 1,509 million, up 12% year-on-year.

Operating income for the first nine months increased by 6% year-on-year to SAR 8,419 million, alongside growth in commercial and consumer lending. Asset quality and cost of risk remained broadly stable.

Bader AlSalloom, Chief Executive Officer of BSF, said: “Our results for the first nine months reflect continued growth across our business, with higher earnings, lending and deposits, while asset quality and cost of risk remained broadly stable. We continue to execute BSF Strategy 2030 by enhancing our services and customer experience and investing in the capabilities needed for our next phase of growth.”

He added: “We look to maintain this momentum in the fourth quarter, focusing on growing our business, supporting client activity and meeting our clients’ needs, while maintaining discipline in cost and risk management.”

Growth in operating income was driven by a 6% increase in net interest income to SAR 6,863 million. This was supported by an 8% increase in average interest-earning assets, despite a 5 basis point decline in net interest margin to 3.01%. Non-interest income increased by 8% to SAR 1,556 million, driven by higher trading and dividend income, partly offset by lower fee and investment income.
Operating expenses rose by 7% year-on-year to SAR 2,773 million, primarily reflecting higher employee costs, general and administrative expenses, and depreciation. The cost-to-income ratio increased marginally by 17 basis points to 32.9%.
Impairment charges increased by 4% to SAR 784 million. Alongside growth in the loan portfolio, this resulted in a broadly stable cost of risk of 0.43%. Return on average equity stood at 12.4%, stable year-on-year.

Total assets reached SAR 338.6 billion at the end of September 2026, up 8% year-on-year. Loans and advances increased by 7% to SAR 230.4 billion, supported by growth in commercial and consumer lending. Customer deposits rose by 9% to SAR 203.2 billion, driven by higher interest-bearing deposits. The investment portfolio reached SAR 73.0 billion, an increase of 6% compared with the end of December 2025.

Alongside its financial performance, BSF continued to advance its branch transformation programme under Strategy 2030. During the third quarter, the Bank opened its Muhammadiyah branch in Riyadh, showcasing a new branch model that brings together personalised service, digital solutions and self-service facilities for individuals, corporates, and small and medium-sized enterprises.

This transformation also includes the development of the Universal Banker model, designed to enable employees to address a broader range of customer needs and reduce handovers between staff, supporting a more seamless service experience.

BSF’s credit cards received two regional awards. The Lifestyle Card won the award for “Best Credit Card or Credit Facility in the Middle East” at The Card & Payments Awards 2026, while the Almosafer BSF Credit Card received Visa’s award for “Best Online Travel Agency Co-branded Credit Card in the GCC for 2026”.

The Bank also participated in Money20/20 as a golden Sponsor, as part of its efforts to strengthen engagement and partnerships across the financial services and technology sectors.
As part of its support for local initiatives and cultural projects, BSF sponsored “Saudi Emblem Archive” to mark Saudi National Day. The publication documents Saudi Arabia’s national emblem and brings together an archive of its visual history, helping preserve it for future generations.