PIF net profit leaps 153% to SAR 65.2B in 2025; assets top SAR 4.5T

Saudi Arabia's Public Investment Fund (PIF) published today, June 30, its independently audited consolidated financial statements for 2025 on the London Stock Exchange.

The financial statements showed that the fund delivered strong year-on-year (YoY) profit growth last year, with net profit more than doubling, alongside increases in operating profit and income.

Net profit rose 153% to SAR 65.2 billion in 2025, from SAR 25.8 billion in 2024, according to PIF's financial statement.

The increase was driven by higher total revenue, a larger share of profit from associates and joint ventures, and lower general and administrative (G&A) expenses.

Total revenue rose 8.8% to SAR 449.9 billion in 2025 from SAR 413.4 billion a year earlier.

Operating revenue increased to SAR 312.0 billion from SAR 284 billion in 2024, while investment income climbed to SAR 137.9 billion from SAR 129.4 billion.

Operating profit surged 125% to SAR 77.9 billion in 2025, compared to SAR 34.7 billion in 2024.

The fund's share of profit from associates and joint ventures increased to SAR 9.8 billion, up from SAR 2.8 billion in 2024.

Meanwhile, G&A expenses declined 8.7% YoY to SAR 157 billion last year.

Profit attributable to the owner rose to SAR 46.4 billion in 2025, from SAR 11 billion in 2024. Meanwhile, profit attributable to non-controlling interests increased to SAR 18.8 billion in 2025, up from SAR 14.8 billion.

Balance Sheet

PIF's total assets advanced to SAR 4.54 trillion by the end of 2025, from SAR 4.32 trillion a year earlier, up SAR 219.6 billion, or 5.1%.

The increase reflects PIF’s continued strategy to expand its asset base, while maintaining a strong financial position to support its long-term objectives.

Cash and deposits with banks and other financial institutions rose to SAR 354.4 billion from SAR 315.9 billion in 2024, while financing and advances increased to SAR 799.5 billion from SAR 713 billion.

Investments in securities rose slightly to SAR 2.16 trillion by 2025-end, while investments in associates and joint ventures increased to SAR 212.8 billion from SAR 196.9 billion in 2024.

Investment properties climbed to SAR 80.5 billion from SAR 65.5 billion, while property and equipment rose to SAR 429.6 billion from SAR 404.2 billion.

PIF Balance Sheet Highlights (SAR bln)

Investment Portfolio

Investments in securities stood at SAR 2.16 trillion by the end of 2025. Geographically, the portfolio comprised SAR 1.29 trillion in the Middle East and North Africa (MENA), SAR 547.1 billion in North America, SAR 167.6 billion in Europe and SAR 156.0 billion in other regions.

Securities Investments by Region (SAR bln)

By asset class, equities and investment funds accounted for SAR 1.78 trillion, followed by government bonds and sukuk at SAR 244.4 billion, bonds and sukuk issued by other entities at SAR 55.1 billion, and bonds and sukuk issued by banks and financial institutions at SAR 27.6 billion.

Breakdown by Investment Instrument (SAR bln)

The 2025 results reflected a marked improvement in PIF's profitability, supported by higher revenue, stronger returns from associates and joint ventures, and lower general and administrative expenses.

At the same time, the financial statements showed an increase in liabilities, particularly loans and borrowings and customer deposits, alongside continued growth in total assets to more than SAR 4.5 trillion.