Top 100 Listed Companies In The Arab World 2018

SABIC, Middle Eastern, Company, Forbes, Global 2000

With oil prices recovering steadily, it has been a good year for businesses across the region. After having bounced back from its lows in 2015 and 2016, crude prices are hovering close to the $80 per barrel mark. Global growth too has been robust and the increase in interest rates has improved margins for banks.

Stock market performance is often seen as a barometer of an economy and most of the region’s bourses have seen increases in their indices last year. Tadawul, the stock market of the Middle East’s biggest economy, has seen a growth of over 10% year to date. Some of the key reforms that most governments in the region are trying to implement are to reduce the reliance on the government and promote private companies. Factoring these into our calculations, Forbes Middle East presents the Top Companies in The Arab World 2018.

Companies in the region have seen significant growth with all four metrics that we track—namely revenues, profits, market value and total assets—seeing steady growth. Total assets of the top 100 listed companies have increased by $200 billion to $2.9 trillion.
Saudi Arabia tops the list, with nearly a third of the Top 100 Companies listed on Tadawul. Over half of the top companies in the list are banks.

Methodology

To rank the Top 100 Listed Companies in the Arab World 2018, we looked at all the listed companies in the region’s stock markets and ranked the companies based on four metrics:
• Revenues
• Profits
• Assets
• Market value
All of the metrics were given equal weights.

ImageRankCompany nameCountrySectorRevenuesProfitAssetsMarket Value
1SABICSaudi ArabiaIndustrials$ 40.7 B$ 4.9 B$ 86 B$ 93.9 B
2QNBQatarBanks and Financial Services$ 13 B$ 3.6 B$ 222 B$ 39.3 B
3First Abu Dhabi BankU.A.E.Banks and Financial Services$ 7.3 B$ 3 B$ 182 B$ 34 B
4National Commercial BankSaudi ArabiaBanks and Financial Services$ 9.6 B$ 2.6 B$ 118 B$ 37.8 B
5Saudi ElectricitySaudi ArabiaUtilities and Energy$ 15.5 B$ 1.8 B$ 119 B$ 23.3 B
6Al Rajhi BankSaudi ArabiaBanks and Financial Services$ 4.2 B$ 2.4 B$ 91.4 B$ 35.7 B
7EtisalatU.A.E.Telecommunication$ 14.1 B$ 2.7 B$ 34.9 B$ 37.7 B
8Emirates NBDU.A.E.Banks and Financial Services$ 6 B$ 2.3 B$ 128 B$ 15 B
9Saudi TelecomSaudi ArabiaTelecommunication$ 13.5 B$ 2.7 B$ 28.8 B$ 44.1 B
10National Bank of KuwaitKuwaitBanks and Financial Services$ 3.6 B$ 1.1 B$ 86.2 B$ 15.2 B
11Emaar PropertiesU.A.E.Real estate and Construction$ 5.1 B$ 1.8 B$ 30.7 B$ 11.8 B
12Abu Dhabi Commercial BankU.A.E.Banks and Financial Services$ 3.3 B$ 1.2 B$ 72.2 B$ 9.4 B
13Samba Financial GroupSaudi ArabiaBanks and Financial Services$ 2.4 B$ 1.3 B$ 60.7 B$ 15.3 B
14DP WorldU.A.E.Logistics$ 4.7 B$ 1.3 B$ 23.1 B$ 18.3 B
15Riyad BankSaudi ArabiaBanks and Financial Services$ 2.6 B$ 1.1 B$ 57.7 B$ 11.8 B
16Kuwait Finance HouseKuwaitBanks and Financial Services$ 3.2 B$ 708 M$ 57.5 B$ 10.9 B
17Attijariwafa BankMoroccoBanks and Financial Services$ 3.8 B$ 572 M$ 50.4 B$ 10.3 B
18Dubai Islamic BankU.A.E.Banks and Financial Services$ 2.8 B$ 1.2 B$ 56.4 B$ 8.3 B
19Saudi British BankSaudi ArabiaBanks and Financial Services$ 2.2 B$ 1.1 B$ 50 B$ 12.4 B
20Banque Saudi FransiSaudi ArabiaBanks and Financial Services$ 2.3 B$ 941 M$ 51 B$ 10.3 B
21Arab National BankSaudi ArabiaBanks and Financial Services$ 2.1 B$ 807 M$ 45.8 B$ 8.5 B
22Arab BankJordanBanks and Financial Services$ 2.8 B$ 523 M$ 48.2 B$ 6.4 B
23AlmaraiSaudi ArabiaFood and Beverages$ 3.7 B$ 581 M$ 8.5 B$ 16.2 B
24Qatar Islamic BankQatarBanks and Financial Services$ 1.7 B$ 618 M$ 41.3 B$ 7.2 B
25Banque Centrale PopulaireMoroccoBanks and Financial Services$ 2.8 B$ 361 M$ 40.7 B$ 5.6 B
26Petro RabighSaudi ArabiaIndustrials$ 9.2 B$ 379 M$ 16.4 B$ 5.8 B
27OoredooQatarTelecommunication$ 9 B$ 658 M$ 7.5 B$ 5.8 B
28MashreqbankU.A.E.Banks and Financial Services$ 2.5 B$ 569 M$ 34.1 B$ 3.6 B
29Saudi Arabian MiningSaudi ArabiaIndustrials$ 3.3 B$ 191 M$ 25.4 B$ 17.3 B
30Bank AudiLebanonBanks and Financial Services$ 3.3 B$ 559 M$ 43.8 B$ 2.3 B
31Ahli United BankBahrainBanks and Financial Services$ 1.6 B$ 667 M$ 33.2 B$ 4.8 B
32ZainKuwaitTelecommunication$ 3.4 B$ 543 M$ 10 B$ 5.4 B
33Abu Dhabi Islamic BankU.A.E.Banks and Financial Services$ 1.7 B$ 626 M$ 33.6 B$ 3.3 B
34Industries QatarQatarIndustrials$ 1.3 B$ 910 M$ 9.7 B$ 18 B
35Alinma BankSaudi ArabiaBanks and Financial Services$ 1.6 B$ 536 M$ 30.7 B$ 8.2 B
36Masraf Al RayanQatarBanks and Financial Services$ 1.2 B$ 560 M$ 28.3 B$ 6.9 B
37BLOM BankLebanonBanks and Financial Services$ 2.2 B$ 485 M$ 32.5 B$ 2.5 B
38Commercial International BankEgyptBanks and Financial Services$ 1.8 B$ 421 M$ 16.4 B$ 5.6 B
39Savola GroupSaudi ArabiaFood and Beverages$ 6.8 B$ 274 M$ 6.2 B$ 5.4 B
40DAMAC PropertiesU.A.E.Real estate and Construction$ 2 B$ 751 M$ 6.9 B$ 5.4 B
41duU.A.E.Telecommunication$ 3.5 B$ 466 M$ 4.9 B$ 6.4 B
42BMCE BankMoroccoBanks and Financial Services$ 1.4 B$ 301 M$ 32.4 B$ 4.1 B
43TAQAU.A.E.Industrials$ 4.5 B$ 284 M$ 28 B$ 2 B
44Alawwal BankSaudi ArabiaBanks and Financial Services$ 2.3 B$ 356 M$ 26.6 B$ 4.3 B
45ALDAR PropertiesU.A.E.Real estate and Construction$ 1.7 B$ 546 M$ 9.9 B$ 4.5 B
46Bank MuscatOmanBanks and Financial Services$ 1.5 B$ 459 M$ 29 B$ 2.9 B
47Union National BankU.A.E.Banks and Financial Services$ 1.5 B$ 451 M$ 29.3 B$ 2.8 B
48Commercial Bank of QatarQatarBanks and Financial Services$ 1.8 B$ 166 M$ 38 B$ 4.3 B
49National IndustrializationSaudi ArabiaIndustrials$ 3.3 B$ 191 M$ 9.1 B$ 3.7 B
50AgilityKuwaitLogistics$ 4.7 B$ 272 M$ 5.7 B$ 3.3 B
51Saudi Investment BankSaudi ArabiaBanks and Financial Services$ 1.1 B$ 376 M$ 25 B$ 3.5 B
52Ezdan HoldingQatarReal Estate and Construction$ 724 M$ 462 M$ 13.5 B$ 6.4 B
53Qatar FuelQatarConsumer Goods and Services$ 4.7 B$ 301 M$ 3.4 B$ 3.7 B
54Doha BankQatarBanks and Financial Services$ 1.2 B$ 305 M$ 25.7 B$ 2.3 B
55Saudi Industrial Investment GroupSaudi ArabiaIndustrials$ 2.2 B$ 268 M$ 6.7 B$ 3.2 B
56KIPCOKuwaitInvestments$ 2.3 B$ 207 M$ 34.3 B$ 1.3 B
57Kingdom HoldingSaudi ArabiaInvestments$ 880 M$ 176 M$ 13 B$ 8.7 B
58Commercial Bank of DubaiU.A.E.Banks and Financial Services$ 908 M$ 273 M$ 19.2 B$ 3.1 B
59Bank AlbiladSaudi ArabiaBanks and Financial Services$ 789 M$ 251 M$ 16.9 B$ 3.6 B
60Qatar InsuranceQatarInsurance$ 3.2 B$ 116 M$ 9.5 B$ 3.1 B
61BarwaQatarReal Estate and Construction$ 760 M$ 471 M$ 8.2 B$ 3.7 B
62Bank AljaziraSaudi ArabiaBanks and Financial Services$ 937 M$ 229 M$ 18.2 B$ 3 B
63OmantelOmanTelecommunication$ 1.9 B$ 278 M$ 11.6 B$ 1.5 B
64Arab Banking CorporationBahrainBanks and Financial Services$ 1.8 B$ 253 M$ 29.5 B$ 982 M
65Qatar Electricity and WaterQatarUtilities and Energy$ 843 M$ 450 M$ 4.3 B$ 5.9 B
66Aluminum BahrainBahrainIndustrials$ 2.3 B$ 246 M$ 4.5 B$ 2.3 B
67National Shipping Company of Saudi ArabiaSaudi ArabiaLogistics$ 1.6 B$ 213 M$ 5.6 B$ 3 B
68RAKBANKU.A.E.Banks and Financial Services$ 1.1 B$ 221 M$ 13.2 B$ 2 B
69Elswedey ElectricEgyptIndustrials$ 2.4 B$ 362 M$ 2.4 B$ 2.6 B
70Housing BankJordanBanks and Financial Services$ 615 M$ 177 M$ 11.5 B$ 3.7 B
71Gulf BankKuwaitBanks and Financial Services$ 844 M$ 159 M$ 18.8 B$ 2.6 B
72Commercial Bank of KuwaitKuwaitBanks and Financial Services$ 631 M$ 184 M$ 14.5 B$ 2.9 B
73Dar Al ArkanSaudi ArabiaReal estate and Construction$ 1.3 B$ 148 M$ 7 B$ 3.3 B
74MobilySaudi ArabiaTelecommunication$ 3 B$ -189 M$ 10.8 B$ 3.8 B
75NakilatQatarTransportation$ 994 M$ 233 M$ 8.2 B$ 2.1 B
76Byblos BankLebanonBanks and Financial Services$ 1.3 B$ 170 M$ 22.7 B$ 844 M
77International Islamic BankQatarBanks and Financial Services$ 531 M$ 229 M$ 12.8 B$ 2.2 B
78Jarir MarketingSaudi ArabiaBanks and Financial Services$ 1.9 B$ 231 M$ 767 M$ 4.1 B
79Bank Of BeirutLebanonBanks and Financial Services$ 1 B$ 204 M$ 18.4 B$ 999 M
80Dubai InvestmentsU.A.E.Investments$ 758 M$ 253 M$ 4.6 B$ 2.6 B
81Al Baraka Banking GroupBahrainBanks and Financial Services$ 998 M$ 207 M$ 25.5 B$ 386 M
82Orascom Construction LimitedEgyptReal estate and Construction$ 3.7 B$ 85 M$ 2.9 B$ 2.1 B
83Al Ahli Bank of KuwaitKuwaitBanks and Financial Services$ 773 M$ 118 M$ 14.4 B$ 1.8 B
84MesaieedQatarIndustrials$ 275 M$ 299 M$ 4 B$ 5.1 B
85Ahli BankQatarBanks and Financial Services$ 497 M$ 175 M$ 11 B$1.8 B
86Bupa Arabia for Cooperative InsuranceSaudi ArabiaInsurance$ 2 B$ 133 M$ 2 B$2.1 B
87Fawaz Abdulaziz AlhokairSaudi ArabiaRetail$ 1.8 B$ 241 M$ 1.8 B$ 1.6 B
88National Bank of BahrainBahrainBanks and Financial Services$ 355 M$ 162 M$ 8.2 B$ 2.3 B
89Saudi International PetrochemicalSaudi ArabiaIndustrials$ 1.2 B$ 117 M$ 4.3 B$ 2 B
90Air ArabiaU.A.E.Transportation$ 1.1 B$ 180 M$ 3.5 B$ 1.7 B
91Emaar The Economic CitySaudi ArabiaReal estate and Construction$ 383 M$ 161 M$ 4.6 B$ 3 B
92BBKBahrainBanks and Financial Services$ 503 M$ 157 M$ 10 B$1.3 B
93Qatar NavigationQatarTransportation$ 684 M$ 132 M$ 5.2 B$ 1.9 B
94BankDhofarOmanBanks and Financial Services$ 566 M$ 124 M$ 11 B$ 1.1 B
95Global Telecom HoldingEgyptTelecommunication$ 3 B$ -41.8 M$ 5.3 B$ 1.4 B
96Advanced PetrochemicalSaudi ArabiaIndustrials$ 654 M$ 168 M$ 1.2 B$ 2.7 B
97National Bank of FujairahU.A.E.Banks and Financial Services$ 521 M$ 129 M$ 10 B$ 1.1 B
98Abdullah Al Othaim MarketsSaudi ArabiaRetail$ 2.2 B$ 119.9 M$ 892 M$1.7 B
99United Development CompanyQatarReal Estate and Construction$ 558 M$ 167 M$ 5 B$ 1.4 B
100Mannai CorporationQatarConsumer Goods and Services$ 1.9 B$ 145 M$ 3.2 B$563 M