Forbes top 3 Middle East listed companies in 2022

1. Saudi Aramco

Saudi Aramco is the world’s largest oil producer. Officially known as Saudi Arabian Oil Company, the company is primarily state-owned and is based in Dhahran, Saudi Arabia. It is the world’s most profitable company, eclipsing even tech giants such as Apple.

Saudi Aramco began attracting increased investor attention in 2016 when Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud announced plans to list 5% at a valuation of approximately $2 trillion in what became the largest initial public offering (IPO).

Country: Saudi Arabia

Sector: Energy

Market value: $2.3 trillion

Sales: $400.5 billion

Profits: $110 billion

Assets: $576.7 billion

2. Sabic

Ranked among the world’s largest petrochemicals manufacturers, SABIC is a public company based in Riyadh, Saudi Arabia. 70% of the company’s shares are owned by Saudi Aramco, with the remaining 30% publicly traded on the Saudi stock exchange. SABIC’s growth has been nothing short of miraculous. Today, the company has operations in around 50 countries with a global workforce of over 31,000 talented individuals.

SABIC operates through three Strategic Business Units – Petrochemicals, Agri-Nutrients and Specialties – and one standalone organization, Metals (Hadeed). They support customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.

Country: Saudi Arabia

Sector: Industrials

Market value: $100.5 billion

Sales: $46.6 billion

Profits: $8.1 billion

Assets: $84.9 billion

3. QNB Group

Since its establishment in 1964, QNB Group has steadily grown to be the biggest bank in Qatar and the largest financial institution in the Middle East and Africa (MEA) region.

Net Profit for the three months ended 31 March 2022 reached QAR3.6 billion (USD1.0 billion), an increase of 9% compared the same period last year. Operating Income up by 16% to reach QAR7.7 billion (USD2.1 billion) which reflects the Group’s success in maintaining growth across a range of revenue sources.

Total Assets as at 31 March 2022 reached QAR1,108 billion (USD304 billion), an increase of 6% from 31 March 2021, mainly driven by growth in Loans and advances by 6% to reach QAR763 billion (USD210 billion).

Country: Qatar

Sector: Banks & Financial Services

Market value: $59.1 billion

Sales: $14 billion

Profits: $3.6 billion

Assets: $300.3 billion


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