Earnings release
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9M 2026 EARNINGS RELEASE Page 1 BSF reports 7% net income growth to 4,377mn in 9M 2026 12.4% ROAE on income momentum and stable cost of risk Total assets 338.6bn, up 8% YoY, mainly driven by increased lending and investments Loans and advances up 7% YoY to 230.4bn, supported by higher volumes in both commercial and consumer lending Customer deposits 203.2bn, up 9% YoY from increase in interest-bearing deposits Net income for 9M 2026 4,377mn, up 7% YoY on higher operating income Operating income 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 Tier 1 ratio of 18.1% and Capital Adequacy Ratio (CAR) of 20.2% Liquidity Coverage Ratio (LCR) of 170%; Net Stable Funding Ratio (NSFR) of 121.0% Riyadh , 26 October 2026 - BSF reported 7% net income growth to 4,377 million for 9M 2026, driven by a 6% rise in net interest income and an 8% rise in the non-interest income, partly offset by higher operating expenses. Total assets amounted to 338.6 billion as of 30 September 2026, an 8% rise year-on-year, primarily attributed to 7% loan growth and an 11% expansion of the investment portfolio. Total customers’ deposits increased by 9% year-on-year from an increase in non-CASA deposits. Billion 230.4 +7% year-on-year Loans & Advances Billion 203.2 +9% year-on-year Customers' Deposits Million 8,419 +6% year-on-year Operating Income Million 4,377 +7% year-on-year Net Income
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9M 2026 EARNINGS RELEASE Page 2 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. 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.” Performance Highlights Income Statement Highlights Mn 9M 2026 9M 2025 Δ% 3Q 2026 3Q 2025 Δ% Net interest income 6,863 6,476 +6% 2,303 2,162 +7% Non-interest income 1,556 1,439 +8% 559 437 +28% Operating income 8,419 7,916 +6% 2,862 2,599 +10% Operating expenses (2,773) (2,594) +7% (926) (854) +8% Pre-impairment operating income 5,646 5,322 +6% 1,936 1,745 +11% Impairment charge (784) (752) +4% (271) (237) +14% Net income before zakat 4,862 4,570 +6% 1,666 1,508 +10% Zakat (485) (476) +2% (157) (156) +1% Net income 4,377 4,094 +7% 1,509 1,353 +12% NIM 3.01% 3.06% -5bps 2.94% 2.96% -2bps Cost to income ratio 32.9% 32.8% +0.2ppts 32.3% 32.9% -0.5ppts Cost of risk 0.43% 0.44% -1bps 0.41% 0.33% +8bps EPS 1.62 1.53 +6% 0.56 0.50 +10% ROAE 12.4% 12.4% -1bps 12.8% 12.1% +77bps ROAA 1.79% 1.80% -0bps 1.81% 1.75% +6bps Net income for 9M 2026 improved 7% year-on-year to 4,377 million from a 6% rise in net interest income and 8% rise in the non-interest income, partly offset by 7% increase in operating expenses. Net income improved marginally quarter-on-quarter, driven by growth in non-interest income that more than offset the decline in net interest income. Total operating income increased by 6% year-on-year to 8,419 million for 9M 2026. Net interest income rose by 6% to 6,863 million, driven by an 8% increase in average interest earning assets on a 5bps lower net interest margin. Non-interest income increased by 8% year-on-year at 1,556 million, driven by increased trading and dividend income partly offset by lower fee and commission, and investment income. Total operating income rose marginally quarter-on-quarter, driven by a 10% increase in non- interest income, while net interest income declined 2%.
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9M 2026 EARNINGS RELEASE Page 3 Operating expenses rose 7% year-on-year to 2,773 million in 9M 2026, due to higher employee costs, general and administrative expenses and depreciation. As a result, the cost-to-income ratio marginally increased by 17 basis points year-on-year to 32.9% for 9M 2026. The impairment charge increased 4% year-on-year to 784 million. Combined with 7% loan growth, this led to relative stability in the cost of risk at 0.43% for 9M 2026. Balance Sheet Highlights Mn 3Q 2026 2Q 2026 Δ% 4Q 2025 Δ% 3Q 2025 Δ% Cash & SAMA balances 11,954 11,299 +6% 10,931 +9% 13,008 -8% Due from banks 8,535 8,196 +4% 3,817 +124% 9,734 -12% Investments 73,013 74,208 -2% 68,682 +6% 65,820 +11% Loans & advances 230,399 224,241 +3% 214,891 +7% 215,592 +7% Other assets 14,743 10,038 +47% 10,685 +38% 10,792 +37% Total assets 338,643 327,983 +3% 309,006 +10% 314,946 +8% Due to banks, other FI & SAMA 32,259 25,319 +27% 12,885 +150% 29,469 +9% Customers' deposits 203,227 204,588 -1% 195,219 +4% 185,868 +9% Debt securities & term loans 36,487 35,758 +2% 38,877 -6% 36,116 +1% Other liabilities 16,264 10,924 +49% 11,366 +43% 11,418 +42% Total liabilities 288,237 276,589 +4% 258,346 +12% 262,871 +10% Share capital 25,000 25,000 +0% 25,000 +0% 25,000 +0% Retained earnings 7,965 8,008 -1% 5,388 +48% 6,926 +15% Other 9,504 10,449 -9% 12,334 -23% 9,711 -2% Equity attributable to shareholders 42,469 43,457 -2% 42,722 -1% 41,637 +2% Tier 1 sukuk 7,938 7,938 +0% 7,938 +0% 10,438 -24% Total equity 50,406 51,394 -2% 50,659 -1% 52,075 -3% NPL ratio 0.95% 0.97% -2bps 0.97% -2bps 0.99% -4bps NPL coverage ratio 165.3% 159.3% +6.0ppts 178.4% -13.1ppts 174.5% -9.2ppts T1 ratio 18.1% 18.8% -72bps 19.2% -112bps 19.6% -152bps CAR 20.2% 20.8% -66bps 21.4% -119bps 21.9% -167bps LCR 170.5% 168.9% +1.6ppts 193.8% -23.3ppts 160.4% +10.1ppts NSFR 121.0% 125.0% -4.0ppts 126.0% -5.0ppts 120.0% +1.0ppts LTD SAMA ratio 79.7% 77.8% +1.9ppts 74.7% +5.0ppts 77.5% +2.2ppts Headline LTD Ratio 113.4% 109.6% +3.8ppts 110.1% +3.3ppts 116.0% -2.6ppts Total assets as of 30 September 2026 amounted to 338,643 million, an increase of 10% from 31 December 2025. Loans and advances rose 7% year-to-date to 230,399 million, driven by both commercial and consumer lending. The non-performing loans ratio stood at 0.95% as of 30 September 2026, improving 2 bps year- to-date, supported by the write-off of two fully provided corporate accounts during the
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9M 2026 EARNINGS RELEASE Page 4 previous quarter. The coverage of non-performing loans stood at 165.3%, with the decline driven by the write-off of these accounts. The investment portfolio expanded by 6% year-to-date to 73,013 million. Customers’ deposits increased by 4% year-to-date to 203,227 million, primarily driven by a rise in non-CASA deposits and further supported by CASA deposits. Debt securities and term loans fell by 6% year-to-date from planned maturities, while Tier 1 Sukuk remained stable year-to-date. Capital levels remained healthy, with the capital adequacy ratio at 20.2%, the Tier 1 capital ratio at 18.1% and the common equity Tier 1 (CET1) ratio at 15.3%. The bank’s liquidity remained strong and comfortably within regulatory limits, with a liquidity coverage ratio of 170.5%, a net stable funding ratio of 121.0%, a SAMA regulatory loan-to- deposit ratio of 79.7%, and a headline loan-to-deposit ratio of 113.4%. Operating Segment Highlights Corporate Banking Income Statement Highlights Mn 9M 2026 9M 2025 Δ% 3Q 2026 3Q 2025 Δ% Net interest income 3,283 3,716 -12% 1,096 1,279 -14% Fee & other income 477 470 +1% 177 142 +24% Total operating income 3,760 4,186 -10% 1,273 1,421 -10% Expenses (669) (660) +1% (221) (210) +5% Pre-impairment operating income 3,091 3,526 -12% 1,052 1,211 -13% Impairments (385) (569) -32% (139) (201) -31% Net income before zakat 2,706 2,957 -9% 914 1,010 -9% NIM 2.76% 3.24% -48bps 2.70% 3.31% -61bps Cost to income ratio 17.8% 15.8% +2.0ppts 17.3% 14.8% +2.5ppts Commercial Cost of risk 0.27% 0.39% -12bps 0.27% 0.21% +6bps
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9M 2026 EARNINGS RELEASE Page 5 Balance Sheet Highlights Mn 3Q 2026 2Q 2026 Δ% 4Q 2025 Δ% Loans & advances 161,658 160,297 +1% 153,249 +5% Total assets 163,620 162,156 +1% 154,717 +6% Customers' deposits 134,699 134,733 -0% 124,196 +8% Total liabilities 138,735 136,225 +2% 125,994 +10% The corporate banking segment reported a 9% year-on-year decline in net income before zakat to 2,706 million. This resulted from 10% lower operating income at 3,760 million partly offset by lower impairments. Net interest income has been reallocated across the Corporate, Retail, and Treasury segments following enhancements to the internal funds transfer pricing methodology. While this has affected the comparability of segment-level trends across reporting periods, the reallocation offsets across segments and does not change the net interest income reported at the group level. Total assets for the corporate segment grew 6% year-to-date in 9M 2026 to 163,620 million from a corresponding increase in loans and advances. Corporate liabilities grew 10% year-to- date to 138,735 million, from increased deposits. Retail Banking Income Statement Highlights Mn 9M 2026 9M 2025 Δ% 3Q 2026 3Q 2025 Δ% Net interest income 2,709 2,221 +22% 909 758 +20% Fee & other income 8 37 -78% 9 (25) +135% Total operating income 2,717 2,258 +20% 918 732 +25% Expenses (1,546) (1,397) +11% (524) (467) +12% Pre-impairment operating income 1,171 861 +36% 394 265 +49% Impairments (392) (180) +118% (128) (33) +289% Net income before zakat 779 681 +14% 266 232 +15% NIM 5.80% 5.43% +37bps 5.57% 5.21% +36bps Cost to income ratio 56.9% 61.9% -5.0ppts 57.1% 63.8% -6.8ppts Consumer Cost of risk 1.03% 0.75% +28bps 0.91% 0.86% +6bps Balance Sheet Highlights Mn 3Q 2026 2Q 2026 Δ% 4Q 2025 Δ% Loans & advances 67,037 62,377 +7% 59,854 +12% Total assets 69,009 64,108 +8% 61,447 +12% Customers' deposits 68,528 69,855 -2% 71,024 -4% Total liabilities 71,644 72,388 -1% 73,056 -2%
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9M 2026 EARNINGS RELEASE Page 6 Retail net income before zakat increased 14% year-on-year to 779 million in 9M 2026. This was driven by a 20% increase in operating income, primarily reflecting higher net interest income, partly offset by higher costs and impairment charges. The increase in impairment charges was in line with expectations, reflecting growth in the unsecured retail lending portfolio. The cost-to-income ratio decreased by 5ppts year-on-year, with expenses up 11% against the 20% rise in operating income. Total retail assets increased by 12% year-to-date to 69,009 million from a corresponding increase in retail loans. Total liabilities decreased 2% year-to-date to 71,644 million from decrease in customer deposits. Treasury Income Statement Highlights Mn 9M 2026 9M 2025 Δ% 3Q 2026 3Q 2025 Δ% Net interest income 743 361 +106% 254 68 +273% Fee & other income 742 616 +21% 259 214 +21% Total operating income 1,485 977 +52% 513 282 +82% Expenses (309) (313) -1% (99) (101) -2% Pre-impairment operating income 1,176 664 +77% 414 181 +129% Impairments (7) (2) +200% (4) (3) +66% Net income before zakat 1,170 662 +77% 410 179 +130% Balance Sheet Highlights Mn 3Q 2026 2Q 2026 Δ% 4Q 2025 Δ% Investments 73,013 74,208 -2% 68,682 +6% Total assets 102,336 98,212 +4% 89,434 +14% Total liabilities 76,566 66,705 +15% 57,691 +33% Treasury reported net income before zakat of 1,170 million for 9M 2026, up 77% year-on-year. This improvement was mainly driven by a 52% increase in operating income to 1,485 million, resulting from a 106% increase in net interest income and 21% growth in fee and other income. Treasury assets increased by 14% year-to-date during 9M 2026, supported by growth in the investment portfolio and interbank. Treasury liabilities grew 33% year-to-date due to increase in interbank and FI funding.
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9M 2026 EARNINGS RELEASE Page 7 Investment Banking and Brokerage Income Statement Highlights Mn 9M 2026 9M 2025 Δ% 3Q 2026 3Q 2025 Δ% Net interest income 128 178 -28% 44 58 -23% Fee & other income 328 316 +4% 113 106 +7% Total operating income 456 494 -8% 158 163 -3% Expenses (249) (224) +11% (82) (75) +10% Net income before zakat 208 270 -23% 75 88 -15% Brokerage value 44,711 59,727 -25% 13,033 21,126 -38% Cost to income ratio 54.5% 45.3% +9.3ppts 52.2% 46.0% +6.2ppts Balance Sheet Highlights Mn 3Q 2026 2Q 2026 Δ% 4Q 2025 Δ% AUM 37,028 34,773 +6% 30,971 +20% Loans & advances 1,704 1,567 +9% 1,788 -5% Total assets 3,678 3,507 +5% 3,408 +8% Total liabilities 1,292 1,271 +2% 1,606 -20% The Investment Banking and Brokerage segment registered a 23% year-on-year decline in net income before zakat to 208 million for 9M 2026. This was driven by 28% lower net interest income on account of lower margin trading activity and 11% higher expenses. Outlook The operating environment has become more challenging since our last reporting period. The IMF’s October 2026 World Economic Outlook projects Saudi Arabia’s GDP to contract by 3.3% in 2026, a significant downward revision from its July forecast of 1.7% growth, reflecting the ongoing conflicts and their impact on energy exports. However, the IMF expects growth to rebound to 7.9% in 2027 as conditions stabilize. The Saudi economy is expected to remain resilient, supported by its diversified non-oil economy and continued reform momentum. BSF will continue to execute against its Strategy 2030 priorities with discipline. The near -term headwinds have not changed the Bank's strategic direction, and the foundations built across our key business lines position us to benefit as conditions recover. The Board and Management remain focused on prudent risk management and maintaining the balance sheet flexibility needed to support clients through this period, fully expecting to pivot to growth as conditions improve.
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9M 2026 EARNINGS RELEASE Page 8 Additional Information The 9M 2026 financial statements, earnings release, earnings presentation, investor presentation and financial data supplement will be available on the website of BSF at: BSF IR Website Financial Disclosures For more information, please contact the bank at: BSF P.O. Box 56006, Riyadh 11554 Kingdom of Saudi Arabia IR@bsf.sa Institutional investor contact Yasminah Abbas Head of Group Commercial Delivery and Investor Relations BSF Investor Relations YAbbas@bsf.sa T: +966 11 289 1406 Media contact Corporate Communications Marketing-Corporate-Communication@bsf.sa