The Banking Executive Magazine - June 2022 Issue

Saudi Kingdom Holding SAUDI KINGDOM HOLDING INVESTED $3.4BLN IN NEW SECTORS OVER TWO YEARS Kingdom Holding Co., controlled by Saudi Arabia's Prince Alwaleed bin Talal, has stated that it has in- vested 12.8 billion riyals ($3.4 bil- lion) in new sectors over the past two years. In a bourse disclosure to the Saudi Tadawul exchange, the company said the investments during the period Q2 2020 to Q2 2022, were made in the following sec- tors: integrated communication, alternative financing, mobility services, energy, digital media & entertainment, artificial intelli- gence e-commerce, insurance & asset management, commodities & funds. These new sectors will comple- ment the ones already part of the KHC portfolio such as banking, real estate, healthcare, education, petrochemical, hotel manage- ment, hotel real estate, social media, mining & commercial avi- ation, it added. Lately, Prince Alwaleed sold 16.87 percent of Kingdom Hold- ing to the Saudi sovereign wealth fund, the Public Investment Fund, for 5.68 billion riyals ($1.51 bil- lion). the BANKING EXECUTIVE 38 ISSUE 162 JUNE 2022