Riyadh – Mubasher: Saudi Arabia’s sovereign wealth fund is owning SAR 89.13 billion, or 2.59 billion shares, at a number of local banks which are listed on the Saudi Stock Exchange (Tadawul), according to recent data by Kuwait's Al Joman Center For Economic Consultancy.
The Public Investment Fund’s (PIF) ownership is distributed over four banks, namely the National Commercial Bank (NCB), Samba Financial Group, Riyad Bank, and Alinma Bank.
The Saudi investment body owns NCB’s biggest stake which amounts to 44.3%, or 1.33 billion shares, at a combined value of SAR 60.32 billion.
The PIF aims to raise its assets to $400 billion by 2020.
Earlier on Thursday, the Saudi sovereign fund unveiled plans to invest in the private healthcare sector and hospitals in the kingdom over the coming period.
