Top 100 companies in Arab world revealed
Oil price decline hits firms' finances, with market value of top 100 companies dropping 15.5%
Dubai: Forbes Middle East announced on Wednesday its annual ranking of the Arab world’s 100 top companies, with at least 19 organisations based in the UAE making the cut this year.
However, due to the decline in oil prices, coupled with political instability, the financial performance of the region’s businesses suffered a setback, with the total market value for the 100 biggest firms dropping 15.5 per cent to $689 billion between April 1, 2015 and April 6, 2016.
“Political instability and plunging oil prices were the main reason affecting the financial performance,” Forbes said in a statement.
Aggregate sales and profits dropped nearly 3 per cent to $281.5 billion and $58.6 billion, respectively, although total assets posted a 4 per cent increase to $2.6 trillion.
Taking the top spot is Saudi Arabia’s Sabic, which has registered profits worth $5 billion and assets worth $87.5 billion. The petrochemicals giant based in Riyadh has a market value of $60.4 billion and assets worth $87.5 billion. Its sales accounted for $39.5 billion.
Despite the 29.5 per cent slump in the Saudi stock market, companies from Saudi dominated the list, making up more than one-third of the top 100 and five of the ten.
Banks represent half of the list, followed by telecom operators and real estate developers. The majority of the companies who have made it into the top 100 are from Gulf countries.
Etisalat emerged as this year’s biggest Arab telecommunications company, ranking fourth in the overall list. Among the banks, QNB took the crown as the largest, ranking first in terms of assets.
Forbes ranked the companies by analysing data from 1,316 publicly-traded companies in Saudi Arabia, Qatar, Oman, Jordan, Egypt, Kuwait, Bahrain, UAE, Lebanon, Morocco and Tunisia. The companies were rated based on four categories: sales, net profits, assets and market value.
Subsidiaries, as well as companies who have been suspended from trading and those who failed to release audited 2015 financial statements, were excluded from the list.
The top companies were recognised during a networking event hosted by Forbes Middle East. “The main objective of such networking events is our constant effort to support and encourage business leaders. Such events connect companies with decision makers, which will eventually help in success and development of the country,” said Dr. Nasser bin Aqeel Al Tayyar, president and publisher of Arab Publishing House.
Forbes’ Top 100 companies in the Arab region:
Ranking
Company name
Country
Sector
1
SABIC
Saudi Arabia
Petrochemicals
2
QNB
Qatar
Banks & Financial Services
3
National Commercial Bank
Saudi Arabia
Banks & Financial Services
4
Etisalat
U.A.E.
Telecommunications
5
Emirates NBD
U.A.E.
Banks & Financial Services
6
Al Rajhi Bank
Saudi Arabia
Banks & Financial Services
7
National Bank of Abu Dhabi
U.A.E.
Banks & Financial Services
7
Saudi Telecom
Saudi Arabia
Telecommunications
9
FGB
U.A.E.
Banks & Financial Services
10
Saudi Electricity
Saudi Arabia
Services & Utilities
11
Abu Dhabi Commercial Bank
U.A.E.
Banks & Financial Services
12
National Bank of Kuwait
Kuwait
Banks & Financial Services
13
Samba Financial Group
Saudi Arabia
Banks & Financial Services
14
Riyad Bank
Saudi Arabia
Banks & Financial Services
15
Kuwait Finance House
Kuwait
Banks & Financial Services
15
DP World
U.A.E.
Logistics
17
Ooredoo
Qatar
Telecommunications
17
Emaar Properties
U.A.E.
Real Estate & Construction
19
Saudi British Bank
Saudi Arabia
Banks & Financial Services
20
Banque Saudi Fransi
Saudi Arabia
Banks & Financial Services
21
Dubai Islamic Bank
U.A.E.
Banks & Financial Services
22
Attijariwafa Bank
Morocco
Banks & Financial Services
23
Arab Bank
Jordan
Banks & Financial Services
24
Arab National Bank
Saudi Arabia
Banks & Financial Services
25
Mashreq Bank
U.A.E.
Banks & Financial Services
26
Zain
Kuwait
Telecommunications
27
Almarai
Saudi Arabia
Food & Beverages
28
Industries Qatar
Qatar
Industrials
28
Savola Group
Saudi Arabia
Food & Beverages
30
Qatar Islamic Bank
Qatar
Banks & Financial Services
31
Saudi Arabian Mining
Saudi Arabia
Industrials
32
Commercial International Bank
Egypt
Banks & Financial Services
33
Ahli United Bank
Bahrain
Banks & Financial Services
34
Bank Audi
Lebanon
Banks & Financial Services
35
Banque Centrale Populaire
Morocco
Banks & Financial Services
36
DAMAC Properties
U.A.E.
Real Estate & Construction
37
Abu Dhabi Islamic Bank
U.A.E.
Banks & Financial Services
38
Commercial Bank of Qatar
Qatar
Banks & Financial Services
39
KIPCO
Kuwait
Investments
40
Saudi Hollandi Bank
Saudi Arabia
Banks & Financial Services
41
Aldar Properties
U.A.E.
Real Estate & Construction
42
BMCE Bank
Morocco
Banks & Financial Services
42
Union National Bank
U.A.E.
Banks & Financial Services
44
Bank Muscat
Oman
Banks & Financial Services
45
BLOM Bank
Lebanon
Banks & Financial Services
46
Barwa
Qatar
Real Estate & Construction
47
Qatar Insurance
Qatar
Insurance
48
du
U.A.E.
Telecommunications
49
Kingdom Holding
Saudi Arabia
Investments
49
Doha Bank
Qatar
Banks & Financial Services
51
Ezdan Holding
Qatar
Real Estate & Construction
52
RAKBANK
U.A.E.
Banks & Financial Services
53
Masraf Al Rayan
Qatar
Banks & Financial Services
54
Mobily
Saudi Arabia
Telecommunications
55
Nakilat
Qatar
Logistics
55
WOQOD
Qatar
Services & Utilities
57
Bahri
Saudi Arabia
Logistics
58
Alinma Bank
Saudi Arabia
Banks & Financial Services
59
Petro Rabigh
Saudi Arabia
Petrochemicals
60
Commercial Bank of Dubai
U.A.E.
Banks & Financial Services
61
Saudi Investment Bank
Saudi Arabia
Banks & Financial Services
62
Arab Banking Corporation
Bahrain
Banks & Financial Services
63
Americana Group
Kuwait
Food & Beverages
64
Al Tayyar Travel Group
Saudi Arabia
Travel & Tourism
65
Bank Albilad
Saudi Arabia
Banks & Financial Services
66
Al Baraka Banking Group
Bahrain
Banks & Financial Services
67
Jarir Marketing
Saudi Arabia
Retail
68
TAQA
U.A.E.
Petrochemicals
68
Bank AlJazira
Saudi Arabia
Banks & Financial Services
70
Qatar International Islamic Bank
Qatar
Banks & Financial Services
71
Housing Bank
Jordan
Banks & Financial Services
72
Saudi Industrial Investment Group
Saudi Arabia
Petrochemicals
72
Fawaz Abdulaziz Alhokair
Saudi Arabia
Retail
74
MILAHA Maritime & Logistics
Qatar
Logistics
75
Bupa Arabia
Saudi Arabia
Insurance
75
Byblos Bank
Lebanon
Banks & Financial Services
77
TASNEE
Saudi Arabia
Industrials
77
Ahli Bank Qatar
Qatar
Banks & Financial Services
79
Qatar Electricity and Water
Qatar
Services & Utilities
80
The Company for Cooperative Insurance
Saudi Arabia
Insurance
81
Agility
Kuwait
Logistics
82
Mesaieed Petrochemical Holding
Qatar
Petrochemicals
83
Jabal Omar Development
Saudi Arabia
Real Estate & Construction
84
United Development Company
Qatar
Real Estate & Construction
85
Global Telecom Holding
Egypt
Telecommunications
86
Telecom Egypt
Egypt
Telecommunications
87
Southern Province Cement
Saudi Arabia
Industrials
88
Bank Of Beirut
Lebanon
Banks & Financial Services
89
Gulf Bank
Kuwait
Banks & Financial Services
90
Arabtec Holding
U.A.E.
Real Estate & Construction
91
Dubai Investments
U.A.E.
Investments
92
Zain KSA
Saudi Arabia
Telecommunications
93
Alba
Bahrain
Industrials
93
Saudi Cement
Saudi Arabia
Industrials
93
Al Khalij Commercial Bank
Qatar
Banks & Financial Services
96
Commercial Bank of Kuwait
Kuwait
Banks & Financial Services
97
Gulf International Services
Qatar
Investments
97
Al Ahli Bank Of Kuwait
Kuwait
Banks & Financial Services
99
Saudi Airlines Catering
Saudi Arabia
Services & Utilities
100
Arab Potash
Jordan
Industrials
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