PIF Reports Record SAR 4.54 Trillion in Assets Under Management
Net income climbed 152% to SAR 65.2 billion, supported by higher investment gains and operating income.
Saudi Arabia's Public Investment Fund (PIF) more than doubled its net income in 2025, reporting earnings of SAR 65.2 billion, up 152.4% year-on-year, while assets under management rose to SAR 4.54 trillion, surpassing its SAR 4 trillion target for the year.
According to the fund's latest financial results, total revenue increased 9% to SAR 449.9 billion, while operating income jumped 125% to SAR 78 billion, driven by stronger operating performance and higher fair-value gains on investments.
Income from investment activities reached SAR 137.9 billion, compared with SAR 129.4 billion in 2024. Income from fair-value changes in financial instruments nearly doubled to SAR 38.8 billion, while gains from managed funds increased to SAR 29.1 billion. Dividend income, however, declined to SAR 65.3 billion from SAR 84 billion a year earlier.
Operating performance also strengthened, with earnings from associates and joint ventures more than tripling to SAR 9.8 billion. Administrative costs fell 8.7% year-on-year to SAR 157 billion, while operating cash flow rose by around 25% to SAR 75.5 billion.
Banking and financial services generated the largest share of operating revenue at SAR 85.3 billion, followed by telecommunications at SAR 76.8 billion and mining at SAR 38.8 billion. Revenue from agriculture and livestock more than tripled to SAR 7.6 billion.
On the balance sheet, investments in associates and joint ventures increased to SAR 212.8 billion, while investment securities remained the fund's largest asset class at SAR 2.16 trillion. Investment properties rose 23% year-on-year to SAR 80.5 billion, and cash reserves stood at SAR 354.4 billion.
Loans and borrowings increased 27% to SAR 725.3 billion, representing around 16% of total assets.
