Alinma Bank was established in 2006 by Saudi’s Public Investment Fund (PIF), the Public Pension Agency, and the General Organization for Social Insurance. Today, it serves 4.67 million customers through 108 branches in Saudi Arabia. In 2023, the bank recorded assets worth $63.1 billion and a net profit of $1.3 billion. In February 2024, Alinma Bank purchased Tokio Marine & Nichido Fire Insurance’s shares in Arabian Shield Cooperative Insurance Co. for $21.6 million, which represents 5.75% of the company. PIF owns a 10% stake in the bank.