BSF profit rises 7% to SAR 4.38B in 9M 2026; Q3 at SAR 1.51B

Banque Saudi Fransi (BSF) reported a 7% increase in net profit to SAR 4.38 billion in the first nine months of 2026, compared to SAR 4.09 billion in the same period last year.

The bank attributed the annual growth in profit to a 4.9% increase in total special commission income, mainly driven by higher returns on financing and investments. However, net special commission income (NSCI) rose 6% year-on-year (YoY).

Total operating income improved, supported by higher NSCI, trading and dividend income. However, this was partially offset by lower other operating income and net fee and commission income.

These gains were partly offset by higher operating expenses, driven by increased salaries and employee-related expenses, other operating expenses, general and administrative (G&A) costs, depreciation and amortization, and expected credit loss provisions on loans and advances.

Net provisions for financing and other financial assets rose by 4.3% YoY, mainly due to higher expected credit loss (ECL) provisions on loans and advances.

In Q3 2026, net profit increased 11.5% YoY, supported by a 3.2% rise in total special commission income, mainly reflecting higher returns on financing and investments. NSCI grew by 6.5%.

Total operating income also increased, driven by higher NSCI, net fee and commission income, trading income, and foreign exchange (FX) income. However, this was partially offset by lower gains on investments held for purposes other than trading.

The increase was partly offset by higher operating expenses, mainly due to increased expected credit loss provisions on loans and advances, salaries and employee-related expenses, other operating expenses, and G&A costs, while provisions for other financial assets declined.

Net provisions for financing and other financial assets rose by 14.3% YoY, mainly due to higher ECL provisions on loans and advances.

Sequentially, net profit grew 1.5%. Total special commission income rose by 1.8%, mainly due to higher returns on financing and investments, while NSCI declined by 1.7%.

Total operating income increased, supported by higher net fee and commission income, FX income, and trading income, partially offset by lower NSCI and gains on investments held for purposes other than trading.

Meanwhile, operating expenses increased, mainly due to higher ECL provisions on loans and advances and salaries and employee-related expenses. This was partly offset by lower provisions for other financial assets, other operating expenses, and G&A costs.

Net provisions for financing and other financial assets increased by 1.5% quarter-on-quarter (QoQ), mainly due to higher expected credit loss provisions on loans and advances.

Shareholders’ equity, no minority interest and after sukuk, amounted to SAR 42.47 billion by the end of 9M 2026, compared to SAR 41.64 billion a year earlier.

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