The profits of the 100 most powerful companies jumped to $201.7 billion in 2021 (Al-Araby Al-Jadeed)
topped 6 Saudi companies And 4 Emirati and a Qatari company, the list of the 100 most financially powerful companies in the world Arab region for 2022, according to a Forbes assessment.
The profits of the 100 largest public companies in the Arab region jumped to $201.7 billion last year, compared to $91 billion in 2020, an increase of 121%, while their market value exceeded hundreds of billions of dollars.
Saudi Arabia topped the 100 list with 33 companies, then the Emirates 25 companies, Qatar 13 companies, Kuwait 8 companies, and 21 companies distributed over the rest of the Arab countries.
Forbes’ classification was adopted to rank companies, which are their market value, sales, net profits, and assets owned by them.
The oil and gas giant occupied “Aramco Saudi Arabia” Top of the list, with sales of $400.5 billion in 2021, assets of about $576.7 billion, and a market value of $2.3 trillion on April 21, 2022.
While its subsidiary SABIC ranked second with a market value of 100.5 billion and sales of 46.6 billion, while the value of assets amounted to about 84.9 billion dollars, then the Qatar National Bank (QNB) Group with a market value of 59.1 billion and sales of 14 billion dollars, while the value of Assets are about $300.3 billion.
In fourth place is the National Bank of Saudi Arabia, with a market value of about 87.3 billion, sales of about 8.6 billion, and assets of 243.8 billion dollars. And the fifth, Al-Rajhi Bank, with a market value of about 119.9 billion, sales of about 7.1 billion, and assets of $166.3 billion.
And First Abu Dhabi Bank came in sixth place with a market value of 68.8 billion, sales of about 8.2 billion, and assets of $272.4 billion. It was followed by the Saudi Electricity Company with a market value of 29.8 billion, sales of 18.5 billion dollars, and assets of 126.6 billion dollars. Then Emirates NBD Bank with a market value of 25.8 billion, sales of $9.8 billion, and assets of $187.2 billion.
Emirates Telecommunications Company (&e) came in ninth place with a market value of 83.1 billion, sales of 14.5 billion dollars, and assets of 34.9 billion dollars.
While the Abu Dhabi National Energy Company (TAQA) and the Saudi Telecom Company (stc) participated in the tenth place, with a market value of “TAQA” of 41 billion dollars and sales of about 12.4 billion dollars and assets of 49.1 billion dollars, and “stc” with a market value of 60.8 billion and sales of about $16.9 billion and assets $34.1 billion.