Juber Al-haddad via flickr
PIF's net profit was 25.8 billion Saudi riyals ($6.9 billion) last year, compared to 64.4 billion riyals the previous year.
The reduction in the indicator was driven by elevated interest rates, inflation, and write-offs in project costs, primarily resulting from alterations in operational plans and a rise in estimated expenses.
The overall financial outcome (factoring in unrealized gains and losses) for 2024 was negative, totaling minus 138.1 billion riyals compared to plus 138.1 billion riyals in 2023.
The assets of the fund rose by 18% in the previous year, reaching 4.321 trillion riyals.
source: bloomberg.com
The reduction in the indicator was driven by elevated interest rates, inflation, and write-offs in project costs, primarily resulting from alterations in operational plans and a rise in estimated expenses.
The overall financial outcome (factoring in unrealized gains and losses) for 2024 was negative, totaling minus 138.1 billion riyals compared to plus 138.1 billion riyals in 2023.
The assets of the fund rose by 18% in the previous year, reaching 4.321 trillion riyals.
source: bloomberg.com