Banque Saudi Fransi · TADAWUL:1050
Banque Saudi Fransi — 1H 2026 Earnings Presentation
63 slides from Banque Saudi Fransi's earnings presentation, 2026
Slide 1: BSF 1H 2026 Investor Presentation
BSF 1H 2026 Investor Presentation 1H 2026
Slide 2: Contents
Contents 03 BSF Profile 10 Operating Environment 13 Strategy 20 ESG Update 26 Financial Performance 49 Outlook & Guidance 52 Segmental Performance 58 Performance Track Record 61 Appendix BSF Investor Presentation | 1H 2026 2
Slide 3: BSF Profile
BSF Profile Investor Presentation 1H 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 78 branches across the Kingdom Saudi Fransi Capital (BSF Capital) 78 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 12.54% 12.39% 12.02% 12.12% 11.87% (Mn Shares) 1H 25 9M 25 FY 25 1Q 26 1H 26 Kingdom Foreign Holdings 15.9% 16.2% Dividends Per Share (SAR) Dividend payout ratio 58% 58% 54% 5
Slide 8: BSF’s share price has outperformed Tadawul Index
BSF’s share price has outperformed Tadawul Index Share Price Performance vs. Tadawul (%) Market Capitalization BSF Share Price 40% (¥ Bn) (¥) 30% 48.5 19.4 20% BSF, 22.5% 10% Tadawul Banks, 2.9% 0% -10% 4.83% of KSA banking sector 52 weeks range [15.5 - 21.0] Tadawul, -10.3% -20% 0.51% of KSA stock
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 1H 2026
Slide 11: Saudi Arabia’s real GDP growth projected at 1.7% in 2026, improving to 5.5% in 2027
Saudi Arabia’s real GDP growth projected at 1.7% in 2026, improving to 5.5% in 2027 Economic Outlook Real GDP Growth (%) Brent Avg Oil Price / Real GDP for Saudi Arabia is estimated to grow by 1.7% in 2026 and improve to 5.5% in Barrel (USD) 2027. 5.5% 4.5% 80.2 79.9 Interest rates are expected
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 20.9% 20.5% 1.8% 19.9% 20.1% 3,296 3,355 19.6% 2,956 1.5% 2,584 2,349 19.2% 18.6% 18.8% 1.2% 18.4% 18.3% 1.1% 1.0% +10% +14% +12% +2% 2022 2023 2024 2025 1Q 26 202
Slide 13: Strategy
Strategy Investor Presentation 1H 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 | 1H 2026 15
Slide 16: Our strategic priorities are expected to deliver ROE above 15% and SAR10bn 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: >50% of net income enhancement and 80% of 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: We are seeing balanced performance across the key strategic metrics
We are seeing balanced performance across the key strategic metrics KPI 2025 Baseline Current 2030 Target Status ~6% Net income market share ~6% 8–10% Watch 43% CASA ratio 43% ~40% Watch Better 18% Non-interest income share 18% 21% Watch 12.1% Return on Equity ~12% >15% On track 15.9% CET1 ratio 16.
Slide 20: ESG Update
ESG Update Investor Presentation 1H 2026
Slide 21: BSF has an integrated ESG governance framework linking strategic oversight with effective execution
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 Board Talal Board Strategy & ESG Committee: Strategy & Almaiman The Board Strategy &
Slide 22: Significance to stakeholders
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: BSF has translated its ESG priorities into measurable KPIs with clear timelines
BSF has translated its ESG priorities into measurable KPIs with clear timelines Pillars Selected ESG KPIs Achieved as of FY25 On track Exemplifying the Highest Independent Board members = 1/3 Zero material data security Embed climate & ESG risk into Ethical and Governance breaches strategy and risk
Slide 25: 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 26: Financial Performance
Financial Performance Investor Presentation 1H 2026
Slide 27: 5% net income growth YoY supported by top-line growth
5% net income growth YoY supported by top-line growth Balance Sheet Loans & Investments Customers' Advances Deposits Loan growth of 7% YoY, driven by both commercial (+5%) and 224.2 74.2 204.6 consumer (+15%). Investments increased 17% YoY, capturing higher yields to manage interest rate risk. ¥
Slide 28: 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 Coverage The NPL ratio was broadly stable YoY. 0.97% 159.3% 0.44% Coverage ratio remains comfortable, with the decline reflecting the write-off of two corporate accounts. Improved overal
Slide 29: Balance sheet growth driven by loans, investments and interbank
Balance sheet growth driven by loans, investments and interbank Balance Sheet Total Assets Movement YTD (¥ Bn) Growth in total assets of 6% YTD, mainly driven by loans, further aided by an increase in +6% investments and interbank placements. The investment portfolio expanded by 8% YTD, mainly f
Slide 30: Net income grew 5% YoY from higher net interest income, partially offset by higher operating expenses
Net income grew 5% YoY from higher net interest income, partially offset by higher operating expenses Income Statement Net Income Movement YoY (¥ Mn) Net income for 1H 2026 grew 5% YoY to ¥ 2,868mn from higher operating income, partially +5% offset by higher operating expenses. Total operating i
Slide 31: 4% YTD loan growth from both commercial and consumer sectors
4% YTD loan growth from both commercial and consumer sectors Loans & Advances Loans & Advances (¥ Bn) Composition Total loans and advances grew 7% YoY, driven by growth in both consumer and commercial lending. YTD growth was 4%, mainly driven by commercial loans and supported by growth in consumer
Slide 32: 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 177.0 +4% Other 23.9% 1.0 1.0 (0.8) 0.9 177.0 Contracting 2.3 2.3 8.2% 170.4 Manufacturing 10.9% (¥ Bn) Utilities Services +19% +6% +28% +32% -22% +1% 13.1% 22.6% Comm
Slide 33: Investment portfolio expanded 8% YTD
Investment portfolio expanded 8% YTD Investments Investments Composition by Category (¥ Bn) 74.2 Investments increased by 8% 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 34: High-quality investment portfolio
High-quality investment portfolio Investments Composition by Type Investments Composition by Sector (¥ Bn) 74.2 Fixed-rate - 67.8 Financials 15.3% (¥ Bn) Equities Floating-rate - 3.5 Corporate Government - 55.7 4.0% Government Equities - 3 9.7% 75.1% Financials - 11.3 Floating-rate Fixed-rate 4.7% 9
Slide 35: 5% YTD increase in customer deposits
5% YTD increase in customer deposits Customers’ Deposits Customers' Deposits (¥ Bn) Deposits grew 5% YTD, driven by increase in both NIBD and IBD balances. +5% IBDs grew 4% YTD, while NIBDs rose 6%. 195.2 199.6 204.6 182.7 185.9 As of 30 June 2026, 43.0% of deposits were non-interest bearing,
Slide 36: Efficient and diversified funding structure for balanced growth
Efficient and diversified funding structure for balanced growth Funding Structure Successful Track Record Accessing Capital Markets BSF’s funding is largely comprised of customers’ deposits which represented 74% of total Issuance Issuance liabilities and 62% of total liabilities and equity as of 3
Slide 37: Stable maturity profile backed by strong ratings
Stable maturity profile backed by strong ratings Credit Ratings Standard & Poor's Maturity Profile (¥ Bn) Tier 2 Notes Certificate of Deposit 10.4 Syndicated facilities A- Bonds Sukuk Tier 1 Sukuk 3.8 7.9 7.7 Stable outlook 6.5 6.0 4.3 2.4 4.4 3.8 2.8 Moody's Fitch 7.9 0.9 A1 A- 0.1 0.6 3.2 2.8 3.
Slide 38: 6% YoY growth in NII driven by earning assets growth, partly offset by modest margin contraction
6% 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 1H 2026 increased by 6% YoY to ¥ 4,560mn, driven by 8% average earnings assets +6% growth. Higher NII from due to banks, loans and
Slide 39: NIM declined 7bps YoY, but improved 4bps QoQ
NIM declined 7bps YoY, but improved 4bps QoQ Net Interest Margin YTD NIM Trend Quarterly NIM Trend NIM moderated by 7bps YoY to 3.04% for 1H 2026, primarily reflecting a 13bps decline in 6.15% 6.15% 6.14% 6.04% 6.02% 6.16% 6.18% 6.07% 6.04% 5.98% asset yields, partly offset by a 9bps reduction in
Slide 40: BSF has limited sensitivity to interest rate changes
BSF has limited sensitivity to interest rate changes NIM Sensitivity Balance Sheet Repricing Profile As of 30 June 2026, BSF estimates a 1-year NIM sensitivity of a 100bps rates change at as at 31 December 2025 (¥ Bn) ±7bps; this would translate into a ¥ ±216mn NII delta. 177.2 The net open shor
Slide 41: Non-interest income held steady YoY
Non-interest income held steady YoY Non-Interest Income Non-interest Income (¥ Mn) Non-interest income for 1H 2026 remained broadly stable YoY at ¥ 997mn as lower fee and 2Q 25 482 commission income and exchange income were offset by improved investment-related and trading income. 3Q 25 437 Net
Slide 42: Fee & commission income decreased 14% YoY, led by higher card losses
Fee & commission income decreased 14% YoY, led by higher card losses Fee & Commission Non-funded Exposure* Fee & Commission Income (¥ Mn) Income (¥ Bn) 2Q 25 281 Net fee & commission income fell 14% YoY to ¥ 465mn in 1H 2026 due 2Q 25 65.3 3Q 25 212 to lower brokerage & asset management fees and l
Slide 43: Operating expenses rose 6% YoY on higher employee expenses, G&A expenses and depreciation
Operating expenses rose 6% YoY on higher employee expenses, G&A expenses and depreciation, but was stable QoQ Operating Expenses Operating Expenses Cost Ratios (%) Operating expenses increased 6% YoY to ¥ 1,848mn in 1H 2026 mainly reflecting higher (¥ Mn) 32.7% 32.8% 33.8% 34.1% 33.2% employee cos
Slide 44: Cost of risk decreased by 6bps YoY to 0.44% driven by overall portfolio growth
Cost of risk decreased by 6bps YoY to 0.44% driven by overall portfolio growth Impairment Charge Cost of Credit Risk (%) Impairment Charge Impairment Charge The total impairment charge for 1H 2026 (¥ Mn) (¥ Mn) +13% was steady YoY at ¥ 513mn. In combination with healthy loan growth, 0.50% 2Q 25 23
Slide 45: Asset quality remains strong with stable NPL ratio YTD
Asset quality remains strong with stable NPL ratio YTD NPL Ratio NPL Ratio (%) Non Performing Loans Non Performing Loans The NPL ratio improved to 0.97% in & Advances (¥ Bn) & Advances (¥ Bn) 2Q 2026 from 1.01% in 1Q 2026 and +4% remained stable YTD. During the 2.3 2Q 25 2.1 2.1 2.2 quarter, the s
Slide 46: NPL coverage robust at 159.3%
NPL coverage robust at 159.3% NPL Coverage NPL Coverage Ratio (%) Stage-Wise Provision Allowance for The NPL coverage ratio decreased Coverage (%) Impairment (¥ Bn) by 19ppts YTD to 159.3%, as the 64.9% 64.8% 70.5% 68.9% -7% newly downgraded NPLs carry 183.1% 178.4% 175.8% 56.9% 4.0 lower reserve
Slide 47: Healthy capital levels maintained
Healthy capital levels maintained Total capital (Tier 1 + Tier 2 regulatory capital) increased Total Capital (¥ Bn) RWA (¥ Bn) marginally YTD to ¥ 57.1bn during 1H 2026 from net income, partially +1% +4% offset by dividends paid and OCI. RWAs increased by 4% YTD to ¥ 54.1 58.2 56.5 57.6 57.1 257
Slide 48: 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 24.8ppts YTD to 168.9% during 1H 2026. 114.9% 116.0% NSFR moderated by 1ppts YTD to 13.8% 13.6% 110.1% 111.2% 13.4% 109.6% 125% as of 30
Slide 49: Outlook & Guidance
Outlook & Guidance Investor Presentation 1H 2026
Slide 50: Saudi Arabia’s macro outlook remains resilient despite geopolitical uncertainty
Saudi Arabia’s macro outlook remains resilient despite geopolitical uncertainty supported by higher oil prices and stable interest rates Metric 2025 2026 Outlook Trend 5.5% Saudi Arabia +4.5% +1.7% 4.5% 3.6% Real GDP Growth 2.6% #N/A 1.7% 2024 2025 2026E 2027E 2028E 6.0% Saudi Arabia Non-oil GDP G
Slide 51: Positive outlook for the year ahead, supported by sustained loan growth, resilient margins, and efficiency gains
Positive outlook for the year ahead, supported by sustained loan growth, resilient margins, and efficiency gains driving profitability Metric 1H 2026 Outcome 2026 Guidance 1H 2026 Revision Guidance Drivers The guidance reflects stronger volumes in both Loans & Advances Growth +4.4% YTD High single d
Slide 52: Segmental Performance
Segmental Performance Investor Presentation 1H 2026
Slide 53: Profitability driven by net income growth in Treasury and Retail, partly offset by Corporate
Profitability driven by net income growth in Treasury and Retail, partly offset by Corporate due to a change in FTP and Investment Banking & Brokerage Operating Income Movement YoY (¥ Mn) Net Income Before Zakat Movement YoY (¥ Mn) +5% +4% 5,317 274 (278) 277 (32) 5,557 64 (156) 277 (50) 3,196 3,061
Slide 54: Retail Segment: Net income grew 14% YoY
Retail Segment: Net income grew 14% YoY, driven by higher net interest income from loan growth and positive impact from change in FTP, with offset in Corporate Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) +14% 2Q 25 785 2Q 25 235 336 (63) (
Slide 55: Corporate Segment: 8% YoY profit decline from lower net interest income due to FTP
Corporate Segment: 8% YoY profit decline from lower net interest income due to FTP impact, while interest received on loans increased, partly offset by lower impairments Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) -8% 2Q 25 1,394 2Q 25 1,0
Slide 56: Treasury Segment: Net income growth driven by investment portfolio expansion
Treasury Segment: Net income growth driven by investment portfolio expansion at higher yields, positive impact from change in FTP and stronger fee and other income Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) +57% 2Q 25 332 2Q 25 219 82 2 (
Slide 57: Investment Banking and Brokerage Segment: YoY profitability declined
Investment Banking and Brokerage Segment: YoY profitability declined mainly from lower net interest income and higher expenses Net Income Before Zakat Movement YoY (¥ Mn) Total Operating Net Income Before Income (¥ Mn) Zakat (¥ Mn) -27% 2Q 25 167 2Q 25 91 182 (37) 5 (18) 3Q 25 163 3Q 25 88 132 4Q 25
Slide 58: Performance Track Record
Performance Track Record Investor Presentation 1H 2026
Slide 59: Balance Sheet Metrics
Balance Sheet Metrics Loans & Advances Total Assets LCR (%) CAR (%) CAR (¥ Bn) (¥ Bn) T1 ratio 194% 21.4% 2021 147.8 2021 215.8 196% 196% 21.1% 19.9% 2022 159.0 2022 232.1 179% 19.6% 19.8% 162% 19.9% 2023 179.4 +10% CAGR 2023 253.7 +9% CAGR 18.9% 19.0% 18.9% 19.2% 2024 204.2 2024 293.3 2025 +5% YoY
Slide 60: 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% 2023 9,324 +10% CAGR 0.58% 0.45% 2024 9,658 2025 +9% YoY 10,537 2021 2022 2023 2024 2025 2021 2
Slide 61: Appendix
Appendix Investor Presentation 1H 2026
Slide 62: Please contact the Investor Relations team for additional information or download BSF’s IR App
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: [email protected] Financial Disclosures Strategy Day
Slide 63: 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