PIF reports SAR 85.7 bln profit in 2021
- Date: 27-Oct-2022
- Source: Argaam
- Sector:Industrial
- Country:Saudi Arabia
PIF reports SAR 85.7 bln profit in 2021
The Public Investment Fund (PIF) recorded profits of SAR 85.7 billion in 2021 from continuing operations, compared to SAR 76.1 billion a year earlier.
The PIF generated profits of SAR 221.2 billion in 2020, including one-off gains of SAR 145 billion on the sale of its stake in Saudi Basic Industries Corp. (SABIC), as shown in the following table:
*Including SAR 145 bln gain from the sale of SABIC stake
The Kingdom’s sovereign wealth fund’s assets grew by 23%, or SAR 479 billion, on new investments, and the merger between Samba Financial Group and Saudi National Bank (SNB).
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