In 2008 it reported a 30.98 billion riyal ($8.26 billion) net loss for the same period. It attributed the improvement to the fact that "results for the fourth-quarter of 2008 included provisions to compensate for the decline in investments and also realised losses in some financial investments of 30.5 billion riyals". Annual earnings per share stood at 0.06 riyals against a net loss per share of 4.75 riyals in 2008, it added.
Operating profit amounted to 549 million riyals, compared to 14.26 billion in operating losses in 2008. Kingdom Holding, an investment company that has minority stakes in some of the world's top companies, is a main shareholder in Citigroup Inc. It said on January 5 that it would cut its capital by 41 percent, a move analysts said aimed at wiping out accumulated and unrealised losses which reached 65 percent of its capital at the end of the third quarter of 2009.