PIF owns 62% of stc Group. As of March 2025, the stc Group had about 29 million mobile subscribers in Saudi Arabia and 5.9 million fixed subscribers. In January 2025, the Saudi Central Bank (SAMA) approved stc Group’s digital bank, STC Bank. In the same month, the group signed a contract with a government entity for building, operating, and providing telecommunications infrastructure services, worth $8.7 billion. In February 2025, it transferred ownership of the Telecommunications Towers Company (TAWAL) to a new entity, which is 54.4% owned by the PIF, with 43.06% stake for stc Group, 1.3% for Prince Saud bin Fahd bin Abdulaziz, and 1.3% for the Sultan Holding Company.