BSF reports SAR 1,381 million net profit in Q1 2026, up 3%, marking a strong acceleration in BSF 2030 execution

21/Apr/2026

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Balanced growth driven by lending expansion, improved efficiency, and a redefined customer experience powered by digital and AI

Riyadh, Kingdom of Saudi Arabia – 21 April 2026: BSF announce of reported a net profit of SAR 1,381 million for the first quarter of 2026, representing a 3% year-on-year increase, reflecting a strong start to the year and accelerating execution of its BSF 2030 strategy, with a continued focus on sustainable growth, operational discipline, and effective risk management.

This performance was supported by an improvement in operating income, which increased by 3% to SAR 2,708 million, driven primarily by growth in net interest income, alongside a continued improvement in the cost of risk.
On the balance sheet front, the Bank maintained its strong position, with total assets reaching SAR 324.8 billion, up 5% since year-end 2025. Loans and advances grew by 3% to SAR 221.9 billion, reflecting a disciplined expansion across both retail and corporate segments.

Customer deposits stood at SAR 199.6 billion, reinforcing the stability and quality of the Bank’s funding base.
The Bank continued to enhance its operational efficiency, the cost-to-income ratio stood at 34.1%, reflecting a balanced approach between investing in growth and maintaining cost discipline.
In terms of asset quality, BSF continued to strengthen its risk profile, with cost of risk improving to 0.48%, supported by prudent risk management practices and a resilient credit portfolio, alongside strong provisioning levels.
The Bank also maintained solid capital and liquidity positions, reinforcing its ability to support future growth with confidence.

Mr. Bader AlSalloom, Chief Executive Officer of BSF, said:
“Our Q1 2026 results reflect a strong start to the year and mark a clear shift from building the foundation to accelerating performance under our BSF 2030 strategy. Growth has been driven by disciplined lending expansion, improved operational efficiency, and a continued focus on risk management.”

He added:
"We are further strengthening our growth engines while continuing to enhance our capabilities to drive greater diversification of income streams and improve revenue quality. At the same time, we are redefining the customer experience across all touchpoints, supported by investments in digital capabilities and artificial intelligence to deliver simpler, faster, and more intuitive banking experiences.”

BSF continues to position Business Banking as a key growth engine under its BSF 2030 strategy, with a strong focus on supporting SMEs and mid-sized businesses across Saudi Arabia.

This segment contributed directly to lending growth in Q1 2026, driven by targeted expansion in both commercial and SME financing. The Bank is strengthening its proposition through tailored solutions across trade, cash management, and payments, supported by an integrated coverage model and enhanced digital capabilities.
In parallel, BSF is leveraging data and advanced analytics to improve credit decision-making and accelerate service delivery, enabling businesses to operate more efficiently while supporting sustainable portfolio growth and improved asset quality.

As part of its customer-centric strategy, BSF continues to roll out a new generation of branches designed to deliver a seamless, high-quality banking experience.

These branches combine modern design, simplified customer journeys, and fully enabled digital services, transforming physical locations into advisory-led environments that provide greater value to customers.

This transformation reflects the Bank’s commitment to enhancing customer satisfaction and elevating service quality across all interaction points.

BSF is further accelerating its investments in technology and artificial intelligence to deliver smarter, more intuitive banking experiences.

By simplifying processes, enabling faster decision-making, and offering more personalized solutions, the Bank aims to enhance customer engagement, improve operational efficiency, and strengthen its innovation capabilities.
This approach reinforces BSF’s commitment to placing the customer at the center of its strategy while building a future-ready banking model.

The first quarter of 2026 marked continued momentum in the execution of BSF 2030, which focuses on enhancing service quality, improving customer experience, and accelerating digital transformation.

BSF continues to expand its presence through strategic partnerships and targeted initiatives that strengthen its role as a key financial partner in supporting the Kingdom’s economic growth, in line with Vision 2030.

As part of its commitment to social responsibility, BSF continues to deliver its community initiatives under the “Athar” program, which serves as a unified platform for its social impact efforts.

The program focuses on promoting financial awareness, improving quality of life, and supporting charitable initiatives, aligned with the Kingdom’s sustainable development goals and Vision 2030.

BSF remains focused on building on this momentum, delivering sustainable growth, enhancing operational efficiency, and creating long-term value for its customers and shareholders, while reinforcing its position as a leading financial institution in the Kingdom.