The Top 100 Companies In The Arab World 2017

COVER-TopCompanies2017

Companies in the Arab region breathed a sigh of relief in 2016, as oil prices picked up again compared to the previous year. As a result, stock markets across the region also began to rise, although some countries are still facing challenges in implementing planned reforms.

The total market value of the top 100 companies in the Arab world reached $772 billion in April 2017, gaining 12% on the previous year.

Although aggregate net profits decreased by 9.7% to reach $52.9 billion, sales and total assets increased by 2.4% and 3.8% to reach $288.3 billion and $2.7 trillion respectively during 2016, as companies’ operational performance was relatively stable.

Saudi Arabia still dominates the list with 36 companies, followed by Qatar and the U.A.E. with 19 and 17 companies respectively, with SABIC (#1) being the biggest company in the kingdom and the Arab world.

49% are from the banks and financial services sector, which is witnessing a wave of mergers and acquisitions in the U.A.E., Saudi Arabia, Qatar, Morocco and Egypt. QNB (#2) still holds its position as the top listed bank in the region, closely followed by the fruit of the NBAD and FGB merger, First Abu Dhabi Bank (#3), headquartered in Abu Dhabi, U.A.E.

The telecommunications and industrial sectors came in the second and third with Etisalat (#5) being the biggest telecommunications company in all metrics and Industries Qatar (#31) the biggest industrial company in the list.

Although the Egyptian currency was hit hard last year off the back of the devaluation, Egypt holds its share in the top 100 companies in the Arab world list with three companies, as the Egyptian stock exchange (EGX 30) gained 75%, making it the biggest gainer in the Arab world.

Global Telecom Holding (#33) was the top gainer in the list and Americana was excluded from this year’s list as the company is on its way to delist from the stock market.

This year we welcome 10 new entrants: Omantel (#71), National Bank of Bahrain (#83), LafargeHolcim Maroc (#89), Elsewedy Electric (#92), Emaar The Economic City (#94), Saudi Ground Services (#94), Advanced Petrochemical Company (#97), BBK (#98), National Bank of Oman (#99) and Mannai Corporation (#100).

Methodology:

We started with 1,300 listed companies in the Arab stock markets from Saudi Arabia, Qatar, Oman, Jordan, Egypt, Kuwait, Bahrain, U.A.E. (Abu Dhabi and Dubai), Lebanon, Morocco and Tunisia. We excluded publicly-traded subsidiaries of listed companies, those suspended from trading, as well as companies that didn’t disclose their 2016 financial statements.

To rank the top 100 companies in the Arab world, we measured four metrics: market value, sales, net profits and total assets. Market value and currency conversions are as of April 6, 2017.

The cut-off was $1.9 billion for market value, $849 million for sales, $133 million for net profits and $5 billion for total assets. Each company received four separate scores based on where it ranked in each metric within the list.

To qualify, a company had to meet the minimum for at least one metric. It received a zero score if it fell below the stated cut-off. 154 listed companies qualified at minimum one metric. We added all four scores (equally weighted) to reach a composite score and rank the companies. SABIC was the highest, while Mannai Corporation came in at 100.

RankImageCompany nameCountrySectorSalesProfitsAssetsMarket Value
1SABIC ►Saudi ArabiaPetrochemicals$ 35.4 B$ 4.8 B$ 84.5 B$ 80.7 B
2QNB ►QatarBanks and Financial Services$ 11.7 B$ 3.4 B$ 197.7 B$ 37.7 B
3First Abu Dhabi Bank ▲U.A.E.Banks and Financial Services$ 6.9 B$ 3.1 B$ 182.5 B$ 33.7 B
4National Commercial Bank ▼Saudi ArabiaBanks and Financial Services$ 6.1 B$ 2.5 B$ 117.7 B$ 20.7 B
5Etisalat ▼U.A.E.Telecommunications$ 14.3 B$ 2.6 B$ 33.4 B$ 43.1 B
6Al Rajhi Bank ►Saudi ArabiaBanks and Financial Services$ 4.2 B$ 2.2 B$ 90.6 B$ 27.7 B
7Emirates NBD ▼U.A.E.Banks and Financial Services$ 5.6 B$ 2 B$ 122 B$ 13.1 B
8Saudi Electricity ▲Saudi ArabiaServices and Utilities$ 13.3 B$ 561 M$ 107.4 B$ 26.7 B
9Saudi Telecom ▼Saudi ArabiaTelecommunications$ 13.8 B$ 2.3 B$ 27.1 B$ 37.5 B
10National Bank of Kuwait ▲KuwaitBanks and Financial Services$ 3.2 B$ 1 B$ 79.4 B$ 13.4 B
11Abu Dhabi Commercial Bank ►U.A.E.Banks and Financial Services$ 3 B$ 1.1 B$ 70.3 B$ 9.8 B
12Samba Financial Group ▲Saudi ArabiaBanks and Financial Services$ 2.4 B$ 1.3 B$ 61.7 B$ 11.3 B
12Emaar Properties ▲U.A.E.Real Estate and Construction$ 4.2 B$ 1.6 B$ 26.2 B$ 14.6 B
14DP World ▲U.A.E.Logistics$ 4.2 B$ 1.1 B$ 20.7 B$ 18 B
15Riyad Bank ▼Saudi ArabiaBanks and Financial Services$ 2.6 B$ 891 M$ 58 B$ 8.2 B
16Ooredoo ▲QatarTelecommunications$ 8.9 B$ 755 M$ 24.9 B$ 9.1 B
17Saudi British Bank ▲Saudi ArabiaBanks and Financial Services$ 2.2 B$ 1 B$ 49.6 B$ 8.8 B
17Kuwait Finance House ▼KuwaitBanks and Financial Services$ 3.1 B$ 531 M$ 54.1 B$ 9.4 B
19Dubai Islamic Bank ▲U.A.E.Banks and Financial Services$ 2.3 B$ 1.1 B$ 47.6 B$ 7.7 B
20Banque Saudi Fransi ►Saudi ArabiaBanks and Financial Services$ 2.2 B$ 936 M$ 54.2 B$ 8.4 B
20Attijariwafa Bank ▲MoroccoBanks and Financial Services$ 3.2 B$ 563 M$ 42.7 B$ 8.1 B
22Arab Bank ▲JordanBanks and Financial Services$ 2.7 B$ 533 M$ 47.5 B$ 5.7 B
23Arab National Bank ▲Saudi ArabiaBanks and Financial Services$ 2 B$ 763 M$ 45.3 B$ 5.3 B
24Qatar Islamic Bank ▲QatarBanks and Financial Services$ 1.5 B$ 580 M$ 38.4 B$ 6.6 B
24Mashreq Bank ▲U.A.E.Banks and Financial Services$ 2.4 B$ 532 M$ 33.4 B$ 3.9 B
24Almarai ▲Saudi ArabiaFood and Beverages$ 4 B$ 555 M$ 7.7 B$ 15.1 B
27Bank Audi ▲LebanonBanks and Financial Services$ 4 B$ 469 M$ 44.1 B$ 2.8 B
28Ahli United Bank ▲BahrainBanks and Financial Services$ 1.6 B$ 624 M$ 31.3 B$ 5.4 B
29Zain ▼KuwaitTelecommunications$ 3.6 B$ 521 M$ 10.1 B$ 6.5 B
30Banque Centrale Populaire ▲MoroccoBanks and Financial Services$ 2.4 B$ 263 M$ 35 B$ 4.7 B
31Industries Qatar ▼QatarIndustrials$ 1.3 B$ 812 M$ 9.7 B$ 18.4 B
32Abu Dhabi Islamic Bank ▲U.A.E.Banks and Financial Services$ 1.6 B$ 532 M$ 33.3 B$ 3.4 B
33Masraf Al Rayan ▲QatarBanks and Financial Services$ 1 B$ 570 M$ 25.1 B$ 8.8 B
34BLOM Bank ▲LebanonBanks and Financial Services$ 2.3 B$ 463 M$ 29.5 B$ 2.6 B
35du ▲U.A.E.Telecommunications$ 3.5 B$ 477 M$ 5 B$ 7.4 B
36ALDAR Properties ▲U.A.E.Real Estate and Construction$ 1.7 B$ 749 M$ 9.7 B$ 4.9 B
36DAMAC Properties ►U.A.E.Real estate and Construction$ 1.9 B$ 1 B$ 6.7 B$ 4.7 B
38Alinma Bank ▲Saudi ArabiaBanks and Financial Services$ 1.1 B$ 401 M$ 27.9 B$ 6 B
39Qatar Insurance ▲QatarInsurance$ 2.5 B$ 289 M$ 7.9 B$ 5.4 B
40KIPCO ▼KuwaitInvestments$ 2.2 B$ 289 M$ 32.7 B$ 2.4 B
41BMCE Bank ▲MoroccoBanks and Financial Services$ 1.9 B$ 203 M$ 30.4 B$ 3.5 B
42Union National Bank ►U.A.E.Banks and Financial Services$ 1.4 B$ 431 M$ 28.3 B$ 3.3 B
43Alawwal Bank ▼Saudi ArabiaBanks and Financial Services$ 1.4 B$ 284 M$ 28 B$ 3.3 B
44Bank Muscat ►OmanBanks and Financial Services$ 1.4 B$ 459 M$ 28.1 B$ 2.7 B
45Commercial International Bank ▼EgyptBanks and Financial Services$ 1.2 B$ 335 M$ 14.9 B$ 5.1 B
46Commercial Bank of Qatar ▼QatarBanks and Financial Services$ 1.7 B$ 138 M$ 35.8 B$ 3.5 B
47Bahri ▲Saudi ArabiaLogistics$ 1.8 B$ 469 M$ 5.7 B$ 3.7 B
48Saudi Investment Bank ▲Saudi ArabiaBanks and Financial Services$ 1 B$ 281 M$ 25.2 B$ 2.6 B
49Agility ▲KuwaitLogistics$ 4 B$ 222 M$ 5.1 B$ 2.6 B
50Doha Bank ▼QatarBanks and Financial Services$ 1.1 B$ 289 M$ 24.8 B$ 2.2 B
51Nakilat ▲QatarLogistics$ 1 B$ 262 M$ 8.3 B$ 3.2 B
52Global Telecom Holding ▲EgyptTelecommunications$ 3 B$ 194 M$ 5.6 B$ 2 B
53RAKBANK ▼U.A.E.Banks and Financial Services$ 1.1 B$ 180 M$ 11.6 B$ 2.2 B
54Saudi Industrial Investment Group ▲Saudi ArabiaPetrochemicals$ 1.6 B$ 133 M$ 7.1 B$ 2.3 B
55Saudi Arabian Mining ▼Saudi ArabiaIndustrials$ 2.5 B$ 107 M$ 25.9 B$ 12.6 B
56Ezdan Holding ▼QatarReal Estate and Construction$ 799 M$ 496 M$ 13.7 B$ 11.5 B
57Petro Rabigh ▲Saudi ArabiaPetrochemicals$ 6.7 B$ 10 M$ 15.5 B$ 3 B
58Savola Group ▼Saudi ArabiaFood and Beverages$ 6.7 B$ -166 M$ 6.4 B$ 6 B
59WOQOD ▼QatarServices and Utilities$ 3.8 B$ 268 M$ 3.1 B$ 3.7 B
60Mobily ▼Saudi ArabiaTelecommunications$ 3.3 B$ -54 M$ 11 B$ 4.6 B
61TASNEE ▲Saudi ArabiaIndustrials$ 4 B$ 55 M$ 11.6 B$ 3.1 B
62Arab Banking Corporation ►BahrainBanks and Financial Services$ 1.7 B$ 234 M$ 30.1 B$ 1.1 B
63Commercial Bank of Dubai ▼U.A.E.Banks and Financial Services$ 823 M$ 273 M$ 17.4 B$ 3.7 B
64Barwa ▼QatarReal Estate and Construction$ 711 M$ 445 M$ 8 B$ 3.9 B
65Qatar Electricity and Water ▲QatarServices and Utilities$ 852 M$ 432 M$ 4.2 B$ 6.5 B
66Kingdom Holding Company ▼Saudi ArabiaInvestments$ 765 M$ 136 M$ 11.1 B$ 10.4 B
67Al Baraka Banking Group ▼BahrainBanks and Financial Services$ 1.1 B$ 268 M$ 23.4 B$ 537 M
68Bank Albilad ▼Saudi ArabiaBanks and Financial Services$ 788 M$ 216 M$ 14.4 B$ 3 B
69The Company for Cooperative Insurance ▲Saudi ArabiaInsurance$ 1.9 B$ 195 M$ 3.6 B$ 3.2 B
70Jabal Omar Development ▲Saudi ArabiaReal estate and Construction$ 395 M$ 162 M$ 6 B$ 16.9 B
71Omantel ★OmanTelecommunications$ 1.4 B$ 301 M$ 2.1 B$ 2.7 B
72Housing Bank ▼JordanBanks and Financial Services$ 644 M$ 185 M$ 11 B$ 3.8 B
73Jarir Marketing ▼Saudi ArabiaRetail$ 1.6 B$ 197 M$ 703 M$ 3.2 B
74Byblos Bank ▲LebanonBanks and Financial Services$ 1.5 B$ 165 M$ 20.8 B$ 956 M
75Qatar International Islamic Bank ▼QatarBanks and Financial Services$ 486 M$ 216 M$ 11.7 B$ 2.7 B
76Bupa Arabia ▼Saudi ArabiaInsurance$ 2.1 B$ 168 M$ 1.9 B$ 2.6 B
77Bank AlJazira ▼Saudi ArabiaBanks and Financial Services$ 962 M$ 232 M$ 17.7 B$ 1.8 B
78Bank of Beirut ▲LebanonBanks and Financial Services$ 936 M$ 198 M$ 17.1 B$ 1 B
79Gulf Bank ▲KuwaitBanks and Financial Services$ 759 M$ 141 M$ 17.9 B$ 2.5 B
80Commercial Bank of Kuwait ▲KuwaitBanks and Financial Services$ 576 M$ 165 M$ 13.5 B$ 2.1 B
81Ahli Bank ▼QatarBanks and Financial Services$ 414 M$ 173 M$ 10.5 B$ 1.9 B
82Milaha ▼QatarLogistics$ 701 M$ 193 M$ 6.1 B$ 2.3 B
83National Bank of Bahrain ★BahrainBanks and Financial Services$ 317 M$ 155 M$ 7.9 B$ 2.3 B
84United Development Company ►QatarReal Estate and Construction$ 657 M$ 187 M$ 5.1 B$ 2 B
85TAQA ▼U.A.E.Petrochemicals$ 4.4 B$ -5 B$ 28.4 B$ 875 M
86Mesaieed ▼QatarIndustrials$ 253 M$ 273 M$ 4 B$ 5.1 B
87Altayyar Travel Group ▼Saudi ArabiaTravel and Tourism$ 2.1 B$ 220 M$ 2.5 B$ 1.7 B
88Dubai Investments ▲U.A.E.Investments$ 831 M$ 328 M$ 4.4 B$ 2.8 B
89LafargeHolcim Maroc ★MoroccoIndustrials$ 664 M$ 163 M$ 2.1 B$ 5 B
90Zain KSA ▲Saudi ArabiaTelecommunications$ 1.8 B$ -261 M$ 7.1 B$ 1.4 B
90Fawaz Abdulaziz Alhokair ▼Saudi ArabiaRetail$ 1.9 B$ 164 M$ 2 B$ 1.8 B
92Elsewedy Electric ★EgyptIndustrials$ 1.4 B$ 220 M$ 2.1 B$ 1 B
93Saudi Cement ►Saudi ArabiaIndustrials$ 474 M$ 240 M$ 1.1 B$ 2.4 B
94Emaar The Economic City ★Saudi ArabiaReal estate and Construction$ 304 M$ 26 M$ 5 B$ 3.9 B

Researchers:

Ahmed Mabrouk, Ranju Warrier, Jason Lasrado