BSF Bank's profits rose 11.5% to $402.4 million in the third quarter

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The net profit of Banque Saudi Fransi (BSF) increased by 11.53% to $402.4 million (1.52 billion riyals) in the third quarter of 2026, compared to about $360.8 million (1.35 billion riyals) in the same quarter of 2025.

On a quarterly basis, the bank’s profits increased by 1.48%, compared to about $396.5 million (1.48 billion riyals) in the second quarter of this year.

The bank explained, in a statement on Tadawul Saudi Arabia today, Monday, that the increase in net profit during the third quarter is due to the growth in total operating income by 10.1%, which was offset by a partial increase in total operating expenses by 9.7%.

He pointed out that the growth in operating income was driven by an increase in net special commission income, net fee and commission income, trading income, and foreign exchange income, while this growth was limited by a decline in gains from investments acquired for non-trading purposes.

The bank attributed the increase in operating expenses mainly to an increase in the provision for impairment of expected credit losses on loans and advances, employee salaries and related expenses, in addition to other operating expenses and general and administrative expenses, while the provision for other financial assets decreased.

The net provision for expected credit losses and other losses increased by 14.35% to $72.3 million (271 million riyals) in the third quarter of the current year, compared to about $63.2 million (237 million riyals) in the same quarter of last year.

In the first nine months of 2026, Banque Saudi Fransi’s net profit increased by 6.91% to $1.17 billion (4.38 billion riyals), compared to about $1.09 billion (4.09 billion riyals) in the same period in 2025.

The profit growth was supported by an increase in total operating income by 6.4%, offset by an increase in total operating expenses by 6.3%.

According to the statement, total special commission income increased by 4.9%, driven by increased returns on financing and investment, while net special commission income increased by 6%.

In contrast, net fee and commission income and other operating income declined, partially limiting the growth in total operating income.

The net provision for expected credit losses and other losses also increased by 4.26% to $209.1 million (784 million riyals) during the first nine months of the current year, compared to about $200.5 million (752 million riyals) in the same period last year, as a result of the increase in the provision for impairment of expected credit losses on loans and advances.

The portfolio of loans and advances increased by 6.87% to $61.44 billion (230.40 billion riyals) by the end of the first nine months of 2026, compared to about $57.49 billion (215.59 billion riyals) in the same period last year.

Customer deposits also increased by 9.34% to $54.19 billion (203.23 billion riyals), compared to about $49.57 billion (185.87 billion riyals) a year ago.

Total assets increased by 7.52% to $90.30 billion (338.64 billion riyals), compared to about $83.99 billion (314.95 billion riyals) in the same period in 2025.

Investments also increased by 10.93% to $19.47 billion (73.01 billion riyals), compared to $17.55 billion (65.82 billion riyals).

On the other hand, total ownership rights, after excluding non-controlling interests, declined by 3.20% to $13.44 billion (50.41 billion riyals), compared to about $13.89 billion (52.08 billion riyals) in the same period of the previous year.