Banque Saudi Fransi · TADAWUL:1050
Banque Saudi Fransi — Q1 2026 Earnings Presentation
62 slides from Banque Saudi Fransi's earnings presentation, 2026
Slide 1: BSF 1Q 2026 Investor Presentation
BSF 1Q 2026 Investor Presentation 1Q 2026
Slide 2: Contents
Contents 03 BSF Profile 10 Operating Environment 13 Strategy 20 ESG Update 25 Financial Performance 48 Outlook & Guidance 51 Segmental Performance 57 Performance Track Record 60 Appendix BSF Investor Presentation | 1Q 2026 2
Slide 3: BSF Profile
BSF Profile Investor Presentation 1Q 2026
Slide 4: BSF presents a strong investment case underpinned by a clearly defined strategy
BSF presents a strong investment case underpinned by a clearly defined strategy Disciplined Consistent Attractive Building on capital growth returns our strengths allocation Positive demographic Attractive returns above cost Focus on value accretive Traditional strength in tailwinds from exp
Slide 5: We are a leading banking group in Saudi Arabia with a strong focus on domestic operations
We are a leading banking group in Saudi Arabia with a strong focus on domestic operations BSF is the successor to Banque de Headquartered in Riyadh: Subsidiaries in KSA: l’Indochine (est. 1949) Branches 79 branches across the Kingdom Saudi Fransi Capital (BSF Capital) 79 BSF was then established
Slide 6: A diversified business model and a wide range of product capabilities
A diversified business model and a wide range of product capabilities Corporate Retail Investment Banking Treasury and Brokerage One of the largest providers of A wide network of branches, A leader in investment banking, Diverse client services, market corporate banking services in ATMs, digital pla
Slide 7: Focus on consistent delivery of shareholder returns over the years
Focus on consistent delivery of shareholder returns over the years Shareholder Foreign Ownership ROAE (%) Composition* 2,500 12.34% 12.54% 12.39% 11.87% 12.02% (Mn Shares) 1Q 25 1H 25 9M 25 FY 25 1Q 26 Kingdom Foreign Holdings 15.1% 16.2% Dividends Per Share (SAR) Dividend payout ratio 59% 58% 58% 5
Slide 8: Market parameters and share price performance
Market parameters and share price performance Share Price Performance vs. Tadawul (%) Market Capitalization BSF Share Price 30% (¥ Bn) (¥) 25% BSF, 25.2% 49.6 19.8 20% 15% 10% Tadawul Banks, 10.3% 5% 0% -5% Tadawul, -6.5% -10% 4.59% of KSA banking sector 52 weeks range [15.5 - 20.10] -15% -20% 0.50%
Slide 9: Experienced and dynamic executive management team
Experienced and dynamic executive management team Bader Alsalloom Ramzy Darwish Majed Alsadhan Chief Executive Officer Chief Strategy and Finance Officer Chief Wholesale Banking Officer • Joined BSF in Apr-21, appointed CEO in Sep-22 • BSF: appointed CFO Dec-22 • BSF: appointed Head of WB Nov-22 • S
Slide 10: Operating Environment
Operating Environment Investor Presentation 1Q 2026
Slide 11: Saudi Arabia's real GDP growth projected at 3.1% in 2026, improving to 4.5% in 2027
Saudi Arabia’s real GDP growth projected at 3.1% in 2026, improving to 4.5% in 2027 Economic Outlook Real GDP Growth (%) Brent Avg Oil Price / Real GDP for Saudi Arabia is estimated to grow by 3.1% in 2026 and improve to 4.5% in Barrel (USD) 2027. Interest rates are expected to trend lower in 20
Slide 12: The Saudi banking sector is well positioned for both resilience and growth
The Saudi banking sector is well positioned for both resilience and growth Bank Credit (¥ Bn) Capitalization (%) NPL Ratio (%) +12% CAGR 20.5% 1.9% 19.9% 19.9% 20.1% 1.8% 19.6% 3,296 2,956 1.5% 2,349 2,584 2,059 18.6% 18.8% 1.2% 18.2% 18.4% 18.3% 1.0% +14% +10% +14% +12% 2021 2022 2023 2024 2025 202
Slide 13: Strategy
Strategy Investor Presentation 1Q 2026
Slide 14: Strategy 2030 will build a Better, Stronger, Faster bank
Strategy 2030 will build a Better, Stronger, Faster bank for customers, employees and shareholders Customers Employees Shareholders Our customers’ needs Support our employees with Deliver sustainable returns as our top priority the right tools… and drive long-term value Better, superior Better oppor
Slide 15: What would a Better, Stronger, Faster bank look like in 2030?
What would a Better, Stronger, Faster bank look like in 2030? 2025 2030 Target Net Income market ~6% 8-10% Better share (%) Return on Equity (%) ~12% >15% Stronger % of STP processes <20% >75% Faster BSF Investor Presentation | 1Q 2026 15
Slide 16: Our strategic priorities are expected to deliver ROE above 15% and SAR 10bn net income
Our strategic priorities are expected to deliver ROE above 15% and ¥10bn net income by 2030 Intensified focus in RBG, TIG and BSFC Cross-sell acceleration Capture more share in RBG via better client Fee income acceleration through segmentation and penetration enhanced offerings and better client pen
Slide 17: Net income enhancement and ROE improvement driven by RBG, TIG and BSFC
>50% of net income enhancement and 80% of ROE improvement driven by RBG, TIG and BSFC segments Net income Movement (¥ Bn) Return on Equity Movement (%) Net income 5.4 ROE 2025 ~12% 2025 WBG PBG PBG JB RBG Private Private Banking RBG Banking JB TIG TIG BSFC BSFC WBG Net income 10 ROE 2030F >15% 2030
Slide 18: Strategy 2030 is built on core strengths to reinforce today and prepare for the future
Strategy 2030 is built on core strengths to reinforce today and prepare for the future Wholesale Private Retail Strengthen the core Treasury BSF Capital Group Wide- Support Functions and Initiatives Banking Banking & Affluent “Strengthen and Strengthen IT/ Digital strategically reposition Wealth Pow
Slide 19: Our 2026 focus is on institutionalizing the capabilities and models for sustainable performance
Our 2026 focus is on institutionalizing the capabilities and models for sustainable performance Institutionalizing Fee Establishing Business Strengthening Corporate Driving Healthy Deposit Income & Cross-Sell Banking as a Vertical Coverage & Institutional Growth Through New-to- Banking Bank Acquisit
Slide 20: ESG Update
ESG Update Investor Presentation 1Q 2026
Slide 21: BSF has an integrated ESG governance framework
BSF has an integrated ESG governance framework linking strategic oversight with effective execution Nomination & BSF Board of Executive Board Risk Audit Committee Renumeration Directors Committee Committee Committee Talal Board Strategy & ESG Committee: Board Almaiman The ESG Board Committee & the B
Slide 22: Significance to stakeholders: ESG materiality
We are focused on enhancing our materiality practices that have a substantial impact on our strategic objectives and are deemed crucial by our stakeholders ESG Materiality Overview Materiality Matrix 1 Governance, Accountability, Transparency & Ethics GRI-based materiality 2 Financial & Economic P
Slide 23: The Sustainability Framework defines BSF's ESG priorities across five core pillars
The Sustainability Framework defines BSF’s ESG priorities across five core pillars Five key activity pillars Accelerating Sustainable Economic Data Privacy Financial and Growth and Security Economic Performance Risk Sustainable Serving Our Clients Management Lending and Investment Creating a T
Slide 24: Sustained improvement in ESG ratings reflects continued progress on ESG priorities
Sustained improvement in ESG ratings reflects continued progress on ESG priorities Year Sustainalytics MSCI S&P 2022 30.8 BB 25 2023 27.8 BBB 30 2024 21.2 BBB 39 . 2025 15.5 BBB 42 2026 15.5 A 42 as of November 2025 as of March 2026 as of December 2025 BSF achieved an “A” MSCI ESG rating (up from
Slide 25: Financial Performance
Financial Performance Investor Presentation 1Q 2026
Slide 26: 3% net income growth YoY supported by top-line growth and lower impairments
3% net income growth YoY supported by top-line growth and lower impairments Balance Sheet Loans & Investments Customers' Loan growth of 6% YoY, driven by Advances Deposits both commercial (+4%) and 221.9 71.6 199.6 consumer (+15%). Investments increased 16% YoY, capturing higher yields to manage
Slide 27: Healthy asset quality and comfortable capital and liquidity levels
Healthy asset quality and comfortable capital and liquidity levels Asset Quality NPL Ratio NPL Cost of Risk NPL ratio increased by 17bps Coverage YoY, due to higher NPLs in both 1.01% 175.8% 0.48% commercial and consumer portfolios. Coverage ratio remains robust. Improved overall COR driven by
Slide 28: Balance sheet growth driven by loans, interbank and investments
Balance sheet growth driven by loans, interbank and investments Balance Sheet Total Assets Movement YTD (¥ Bn) Growth in total assets of 5% YTD, mainly driven by 3% loan growth, further aided by an +5% increase in interbank lending, investments and other assets. The investment portfolio expanded
Slide 29: Net income grew 3% YoY from higher net interest income and lower cost of risk
Net income grew 3% YoY from higher net interest income and lower cost of risk, partially offset by operating expenses Income Statement Net Income Movement YoY (¥ Mn) Net income for 1Q 2026 grew 3% YoY to ¥ 1,381mn from higher operating income and lower +3% cost of risk, partially offset by higher
Slide 30: 3% YTD loan growth from both commercial and consumer sectors
3% YTD loan growth from both commercial and consumer sectors Loans & Advances Loans & Advances (¥ Bn) Composition Total loans and advances grew 6% YoY, driven by growth in both consumer and commercial lending. YTD growth was 3%, mainly driven by commercial loans and supported by growth in consumer
Slide 31: Well-diversified portfolio in both commercial and consumer sectors
Well-diversified portfolio in both commercial and consumer sectors Commercial Loans Movement YTD (¥ Bn) Commercial Loans Composition 176.5 +4% Other 23.9% 2.0 0.7 0.6 (1.4) 1.0 176.5 Contracting 3.2 170.4 7.1% Manufacturing 11.6% (¥ Bn) Utilities Commerce +9% +5% +3% +17% -6% +2% 11.9% 23.1% Service
Slide 32: Investment portfolio expanded 4% YTD
Investment portfolio expanded 4% YTD Investments Investments Composition by Category (¥ Bn) 71.6 Investments increased by 4% YTD mainly from fixed-rate debt securities. FVSI - Debt/equity FVOCI - Debt instruments instruments The investment portfolio is of high quality with a significant portion
Slide 33: High-quality investment portfolio
High-quality investment portfolio Investments Composition by Type Investments Composition by Sector (¥ Bn) Equities 71.6 Fixed-rate - 64.5 Financials 22.0% (¥ Bn) 4.1% Floating-rate - 4.2 Government Government - 48.6 Corporate 67.8% Floating-rate Equities - 2.9 Financials - 15.8 Fixed-rate 10.2% 5.8
Slide 34: 2% YTD increase in customer deposits, driven by NIBD balances
2% YTD increase in customer deposits, driven by NIBD balances Customers’ Deposits Customers' Deposits (¥ Bn) Deposits grew 2% YTD, driven by increased NIBD balances. +5% IBDs remained broadly stable YTD, while NIBDs rose 5% YTD. 190.7 185.9 195.2 199.6 182.7 As of 31 March 2026, 43.9% of depos
Slide 35: Efficient and diversified funding structure for accelerated growth
Efficient and diversified funding structure for accelerated growth Funding Structure Successful Track Record Accessing Capital Markets BSF’s funding is largely comprised of customers’ deposits which represented 73% of total Issuance Issuance Type Maturity/Call Pricing liabilities and 61% of total
Slide 36: Stable maturity profile backed by strong ratings
Stable maturity profile backed by strong ratings Tier 2 Notes Credit Ratings Standard & Poor's Maturity Profile (¥ Bn) Certificate of Deposit Syndicated facilities Bonds A- Sukuk Tier 1 Sukuk 10.4 8.6 3.8 7.9 7.7 Stable outlook 6.0 4.3 Moody's Fitch 7.4 4.5 2.8 3.8 0.4 7.9 A1 A- 0.9 0.1 0.6 2.8 3.
Slide 37: 5% YoY growth in NII driven by earning assets growth
5% YoY growth in NII driven by earning assets growth, partly offset by modest margin contraction Net Interest Income Net Interest Income Movement YoY (¥ Mn) NII for 1Q 2026 increased by 5% YoY to ¥ 2,217mn, driven by 7% average earnings assets +5% growth. Higher NII from loans, investments, due
Slide 38: YoY margin decline but QoQ improvement to 3.02%
YOY margin decline but QoQ improvement to 3.02% Net Interest Margin YTD NIM Trend Quarterly NIM Trend NIM moderated by 7bps YoY to 3.02% for 1Q 2026, primarily reflecting an 8bps decline in 6.12% 6.15% 6.15% 6.14% 6.04% 6.12% 6.16% 6.18% 6.07% 6.04% asset yields, partly offset by a 2bps reduction
Slide 39: BSF has limited sensitivity to interest rate changes
BSF has limited sensitivity to interest rate changes NIM Sensitivity Balance Sheet Repricing Profile As of 31 March 2026, BSF estimates a 1-year NIM sensitivity of a 100bps rates change at as at 31 December 2025 (¥ Bn) ±3bps; this would translate into a ¥ ±100mn NII delta. 177.2 161.0 The net op
Slide 40: Non-interest income decreased 5% YoY on lower fees and FX income
Non-interest income decreased 5% YoY on lower fees and FX income partly offset by higher investment income Non-Interest Income Non-interest Income (¥ Mn) Non-interest income for 1Q 2026 decreased 5% YoY to ¥ 491mn on lower fee and commission income and exchange income partly offset by improved inv
Slide 41: Fee & commission income decreased 17% YoY, led by lower brokerage fees and higher card losses
Fee & commission income decreased 17% YoY, led by lower brokerage fees and higher card losses Fee & Commission Non-funded Exposure* Fee & Commission Income (¥ Mn) Income (¥ Bn) 1Q 25 262 Net fee & commission income fell 17% YoY to ¥ 218mn in 1Q 2026 due 1Q 25 81.0 2Q 25 281 to lower brokerage & as
Slide 42: Operating expenses rose 6% YoY on higher employee expenses and depreciation
Operating expenses rose 6% YoY on higher employee expenses and depreciation, but decreased 4% QoQ on lower G&A expenses Operating Expenses Operating Expenses Cost Ratios (%) Operating expenses increased 6% YoY to ¥ 922mn in 1Q 2026 mainly due to higher (¥ Mn) employee costs driven by annual salary
Slide 43: Cost of risk decreased by 4bps YoY to 0.48%
Cost of risk decreased by 4bps YoY to 0.48% driven by overall portfolio growth Impairment Charge Cost of Credit Risk (%) Impairment Charge Impairment Charge The total impairment charge for 1Q 2026 (¥ Mn) (¥ Mn) decreased by 12% YoY to ¥ 246mn, from lower commercial impairments and -12% 0.51% 1Q 25
Slide 44: Asset quality remains strong with modest increase in NPL ratio YTD
Asset quality remains strong with modest increase in NPL ratio YTD and robust coverage NPL Ratio NPL Ratio (%) Non Performing Loans Non Performing Loans The NPL ratio increased 4bps YTD & Advances (¥ Bn) & Advances (¥ Bn) to 1.01% as NPLs increased by 8% +27% relative to 3% gross loan growth. 1.01
Slide 45: NPL coverage robust at 175.8%
NPL coverage robust at 175.8% NPL Coverage NPL Coverage Ratio (%) Stage-Wise Provision Allowance for The NPL coverage ratio decreased Coverage (%) Impairment (¥ Bn) by 2.6ppts YTD to 175.8%, mainly 70.5% 68.9% from lower commercial loan 63.2% 64.9% 64.8% +13% coverage. 198.5% 3.8 4.0 183.1% 178.4%
Slide 46: Healthy capital levels maintained
Healthy capital levels maintained Total capital (Tier 1 + Tier 2 regulatory capital) increased 2% Total Capital (¥ Bn) RWA (¥ Bn) YTD to ¥ 57.6bn during 1Q 2026 from net income and Tier 2 +7% +11% issuance, partially offset by OCI. RWAs increased by 7% YoY and 4% 58.2 56.5 57.6 255.5 257.8 266.3
Slide 47: Liquidity remains strong and comfortably within regulatory limits
Liquidity remains strong and comfortably within regulatory limits Leverage Ratio (%) LTD Ratios (%) Headline LTD Ratio Liquidity LTD SAMA ratio LCR declined by 8ppts YTD to 185.6% during 1Q 2026. 114.9% 116.0% NSFR moderated by 2ppts YTD to 13.8% 13.6% 111.2% 13.4% 109.6% 110.1% 124% as of 31 Ma
Slide 48: Outlook & Guidance
Outlook & Guidance Investor Presentation 1Q 2026
Slide 49: Saudi Arabia's macro outlook remains supportive, alongside gradual decline in interest rates
Saudi Arabia’s macro outlook remains supportive, alongside expectations of a gradual decline in interest rates Metric 2025 2026 Outlook Trend +4.5% Saudi Arabia 4.5% 4.5% Real GDP Growth +3.1% 3.1% 3.6% #N/A 2.6% 2024 2025 2026E 2027E 2028E +4.9% Saudi Arabia 6.0% Non-oil GDP Growth +4.3% 4.9% 4.7
Slide 50: Positive outlook for the year ahead and 2026 guidance
Positive outlook for the year ahead, supported by sustained loan growth, resilient margins, and efficiency gains driving profitability Metric 1Q 2026 Outcome 2026 Guidance 1Q 2026 Revision Guidance Drivers The guidance reflects stronger volumes in both Loans & Advances Growth +3.3% YTD High single d
Slide 51: Segmental Performance
Segmental Performance Investor Presentation 1Q 2026
Slide 52: Profitability driven by growth in Retail and Treasury
Profitability driven by growth in Retail and Treasury, partly offset by Corporate and Investment Banking & Brokerage Operating Income Movement YoY (¥ Mn) Net Income Before Zakat Movement YoY (¥ Mn) +3% +3% 154 (167) 112 (29) 2,708 50 (70) 108 (40) 1,540 2,638 1,492 +21% -12% +31% -18% +23% -8% +41%
Slide 53: Retail Segment: Net income grew 23% YoY
Retail Segment: Net income grew 23% YoY driven mainly by increased net interest income partly offset by lower fee income and higher expenses and impairments Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) +23% 1Q 25 741 1Q 25 213 167 (13) (43)
Slide 54: Corporate Segment: 8% YoY decline in profitability
Corporate Segment: 8% YoY decline in profitability mainly from lower net interest income partly offset by lower impairments Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) -8% 1Q 25 1,371 1Q 25 924 924 (149) 98 854 (17) (2) 2Q 25 1,394 2Q 25 1
Slide 55: Treasury Segment: Net income growth driven by investment portfolio expansion
Treasury Segment: Net income growth driven by investment portfolio expansion at higher yields and stronger fee and other income Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) +41% 1Q 25 362 1Q 25 263 97 14 (1) (3) 372 2Q 25 332 2Q 25 219 263
Slide 56: Investment Banking and Brokerage Segment: YoY profitability declined
Investment Banking and Brokerage Segment: YoY profitability declined mainly from lower operating income and higher expenses Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) -44% 1Q 25 164 1Q 25 91 91 (17) (12) 2Q 25 167 2Q 25 91 (11) 51 3Q 25 1
Slide 57: Performance Track Record
Performance Track Record Investor Presentation 1Q 2026
Slide 58: Balance Sheet Metrics
Balance Sheet Metrics Loans & Advances Total Assets LCR (%) CAR (%) CAR (¥ Bn) (¥ Bn) T1 ratio 21.1% 21.4% 196% 196% 194% 2021 147.8 2021 215.8 19.9% 19.8% 19.6% 179% 2022 159.0 2022 232.1 19.9% 162% 18.9% 19.0% 18.9% 19.2% 2023 179.4 +10% CAGR 2023 253.7 +9% CAGR 2024 204.2 2024 293.3 2025 +5% YoY
Slide 59: Income Statement Metrics
Income Statement Metrics Total Operating NIM (%) Cost to Income Ratio (%) Cost of Risk (%) Income (¥ Mn) 0.96% 2021 7,128 3.54% 35.3% 34.3% 33.8% 0.85% 2022 8,017 33.1% 32.4% 0.67% 3.04% 3.08% 3.04% 3.04% 0.58% 2023 9,324 +10% CAGR 0.45% 2024 9,658 2025 +9% YoY 10,537 2021 2022 2023 2024 2025 2021 2
Slide 60: Appendix
Appendix Investor Presentation 1Q 2026
Slide 61: Please contact the Investor Relations team for additional information
Please contact the Investor Relations team for additional information or download BSF’s IR App For more information, please contact us at: Access our IR website: BSF BSF IR Website P.O. Box 56006, Riyadh 11554 Kingdom of Saudi Arabia Find our disclosures: IR@bsf.sa Financial Disclosures Strategy Day
Slide 62: Disclaimer
Disclaimer This presentation is being provided to you for general information purposes. The information contained in the presentation has been obtained from sources believed by BSF to be up to date, correct and reliable, but BSF does not make any representation or warranty, express or implied, with