This year’s Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine’s ranking of the world’s top 2,000 companies, based on assets, profits, revenues, and market value, Zawya reports.
Oil giant Saudi Aramco made its debut in the fifth place as the most valuable company in the world with a market value worth $1.6 trillion, after completing the largest-ever IPO in the world last year. Aramco was also listed as the most profitable company worldwide with $88.2 billion in profits, and the only firm in the top 100 companies.
Saudi Arabia contributed 14 names to the list, becoming the most represented Middle Eastern country on the list.
The second most valuable company in the MENA region was the Saudi Basic Industries Corporation (SABIC), which ranked third regionally on the list and 212th globally with a market value of $59.8 billion and profits of $1.5 billion.
Saudi Telecom Company (stc) held the fifth rank regionally and the 335th overall with a market value worth $48.3 billion. The National Commercial Bank (NCB) was the 396th globally with assets worth $135.2 billion and a market value of $29.6 billion.
The list included a number of Saudi banks namely, Al Rajhi Bank, Riyad Bank, Saudi British Bank (SABB), Banque Saudi Fransi (BSF), Arab National Bank (ANB), and Alinma Bank.
Saudi Electricity Company (SEC), Saudi Arabian Mining Company (Maaden), and Almarai Company followed and were ranked 590, 1508, and 1618, respectively.
The UAE had the second biggest representation on the list with nine companies. First Abu Dhabi Bank (FAB) ranked the fourth regionally and the 303rd globally with a market value of $34.4 billion and $227.4 billion in assets. Emirates NBD was ranked the sixth regionally and the 351st globally, followed by Emirates Telecommunication Group (Etisalat), which came in the seventh place regionally and the 358 on the global list.
Moreover, the list included other Emirati banks, such as the Abu Dhabi Commercial Bank (ADCB), the Dubai Islamic Bank (DIB), Abu Dhabi Islamic Bank (ADIB), and Mashreq Bank.
In addition, DP World and Emaar Properties were featured on the list, placed 715 and 981 worldwide with assets worth $34.1 billion and $31.8 billion, respectively.
Bahrain’s Ahli United Bank (AUB) and Oman’s Bank Muscat were on the list with assets of $40.3 billion and $31.9 billion, respectively.
Egypt’s Commercial International Bank (CIB) made the list with a market value and assets worth $6 billion and $24.1 billion, respectively.
The National Bank of Kuwait (NBK) headed Kuwaiti companies on the list with $96.5 billion in assets. Kuwait Finance House (KFH) and Mobile Telecommunications (Zain) managed to make the list with assets worth $63.9 billion and $15.6 billion, respectively.
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