Logo of Public Investment Fund (PIF)
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:
|
Key Income Statement Items (SAR bln) |
|||
|
Period |
2020 |
2021 |
Change |
|
Revenue |
179.0 |
228.2 |
+27% |
|
Cost of Revenue |
(66.7) |
(82.2) |
+23% |
|
Other Operating Income |
2.5 |
7.6 |
+204% |
|
Share from Associates |
4.9 |
8.6 |
+75% |
|
Operating Profit |
77.1 |
85.5 |
+11% |
|
Cost/ Finance Income |
2.4 |
4.5 |
+87% |
|
Profit from Continuing Operations |
76.1 |
85.7 |
+13% |
|
Profit from Discontinuing Operations |
*221.2 |
85.7 |
(61%) |
*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).
|
Key Balance Sheet Items (SAR bln) |
|||
|
Period |
2020 |
2021 |
Change |
|
Fixed Assets |
205.0 |
292.8 |
+43% |
|
Associate Investments |
116.5 |
118.5 |
+2% |
|
Investments in Securities |
715.5 |
920.2 |
+29% |
|
Loans & Advances |
382.7 |
535.3 |
+40% |
|
Total Assets |
2059.8 |
2539.0 |
+23% |
|
Loans |
196.6 |
249.3 |
+27% |
|
Customer Deposits |
447.2 |
603.3 |
+35% |
|
Total Liabilities |
784.9 |
1035.3 |
+32% |
|
Total Shareholders’ Equity |
1274.8 |
1503.8 |
+18% |
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