SABIC tops Forbes list of biggest Arab companies

Saudi Basic Industries Corp (SABIC), the largest listed company on Tadawul with a market value of $80.7 billion and assets worth $84.5 billion, ranked first on the Forbes list of the Top 100 Companies in the Arab World 2017.

The petrochemical producer recorded sales and profit of $35.4 billion and $4.8 billion, respectively.

Qatar National Bank (QNB) came second with a market value of $37.7 billion and assets worth $197.7 billion, followed by First Abu Dhabi Bank, which is valued at $33.7 billion with assets of $182.5 billion.

Saudi-based National Commercial Bank (NCB) came in the fourth place with market value and assets of $ 20.7 billion and $117.7 billion, respectively. The lender reported sales of $ 6.1 billion with $ 2.6 billion in net profit.

The UAE’s Etisalat Group landed the fifth place, while Al Rajhi Bank ranked sixth on the list with $27.7 billion market value and assets worth $ 90.6 billion.

Emirates NBD came seventh in the Forbes list, followed by Saudi Electricity Co. (SEC), which came in the eighth place with $26.7 billion market value and assets of $ 107.4 billion.

Saudi Telecom Co. (STC) was ranked ninth with a market value of 37.5 billion, followed by National Bank of Kuwait came last among the top 10 with $13.4 billion market value.