Saudi Arabian banknotes
Senior executives in the banking sector, in addition to ACWA Power Co. and Saudi Arabian Oil Co. (Saudi Aramco), received the highest annual salaries and remunerations in 2021, according to a study on Tadawul-listed companies conducted by Argaam.
Six senior executives in ACWA Power and Saudi Aramco received SAR 117.2 million and SAR 89.3 million, respectively. Meanwhile, six at Saudi National Bank (SNB) received SAR 60.3 million.
On the other hand, salaries and remunerations of top executives at Kingdom Holding Co. (KHC) reached SAR 57.6 million in 2021, compared with SAR 26 million in 2020. Thus, they moved to the 4th rank in 2021 from the 23rd a year before.
The study also showed a significant increase in some companies during 2021, including Saudi British Bank (SABB), Bupa Arabia for Cooperative Insurance Co., Al Rajhi Bank, Saudi Electricity Co. (SEC), Advanced Petrochemical Co. (APC), Arriyadh Development Co., United International Transportation Co. (Budget Saudi) and Saudi Ground Services Co. (SGS).
Meanwhile, other companies witnessed varying declines, including Saudi Aramco. Arab National Bank (ANB), BinDawood Holding Co., Almarai Co., Alinma Bank, Bank AlJazira, and Seera Group Holding.
|
Salaries and Remunerations of Top 50 Tadawul-Listed Firms in 2021 (SAR mln) |
||||||
|
Company |
Salaries and Remunerations |
Results |
Notes for 2021 |
|||
|
2019 |
2020 |
2021 |
2021 |
|||
|
ACWA Power |
NA |
NA |
117.2 |
758.8 |
Six top executives |
|
|
Aramco |
68.7 |
92.6 |
89.3 |
395203.0 |
Six top executives |
|
|
SNB |
73.2 |
54.8 |
60.3 |
12668.2 |
Six top executives |
|
|
Kingdom Holding |
27.3 |
26.0 |
57.6 |
1017.4 |
Five top executives |
|
|
SABB |
28.9 |
35.9 |
52.2 |
3204.4 |
Five top executives excluding those whose appointments require the approval of the Saudi Central Bank (SAMA) with SAR 33.6 million. |
|
|
ANB |
49.2 |
51.9 |
47.6 |
2176.6 |
-- |
|
|
stc |
39.4 |
45.8 |
47.1 |
11311.3 |
Five top executives |
|
|
BinDawood Holding |
NA |
55.0 |
45.7 |
240.6 |
Five top executives |
|
|
Bupa Arabia |
37.6 |
32.6 |
44.5 |
625.6 |
-- |
|
|
Bank Albilad |
29.0 |
40.2 |
41.8 |
1686.5 |
Seven top executives |
|
|
Al Rajhi Bank |
60.7 |
25.5 |
41.4 |
14746.2 |
Five top executives |
|
|
Riyad Bank |
23.6 |
37.0 |
37.6 |
6025.4 |
Six top executives |
|
|
Jarir |
32.1 |
34.4 |
36.6 |
991.9 |
Five top executives |
|
|
Banque Saudi Fransi |
36.2 |
34.7 |
36.2 |
3449.9 |
Five top executives excluding those whose appointments require the approval of the Saudi Central Bank (SAMA) with SAR 78.5 million. |
|
|
SAIB |
30.7 |
38.6 |
36.1 |
1061.7 |
-- |
|
|
Savola |
32.5 |
31.0 |
33.5 |
221.9 |
Five top executives |
|
|
SABIC |
41.4 |
39.5 |
32.7 |
23066.0 |
Five top executives |
|
|
Sulaiman Al Habib |
26.0 |
31.1 |
29.9 |
1376.6 |
Five top executives |
|
|
Saudi Electricity
|
14.1 |
17.4 |
29.6 |
6729.5 |
Five top executives |
|
|
Elm |
NA |
NA |
28.5 |
566.9 |
Five top executives with leaving indemnity of SAR 11.02 million. |
|
|
Nahdi Medical |
NA |
NA |
27.3 |
812.5 |
Five top executives |
|
|
Tasnee |
40.2 |
29.3 |
27.2 |
1356.4 |
Four top executives |
|
|
Advanced |
34.0 |
12.2 |
26.7 |
815.4 |
Seven top executives |
|
|
Mouwasat |
18.9 |
23.3 |
26.4 |
578.2 |
Five top executives |
|
|
Mobily |
38.5 |
21.0 |
26.1 |
1071.5 |
Five top executives |
|
|
Almarai |
51.9 |
32.1 |
24.5 |
1563.5 |
Five top executives |
|
|
solutions |
NA |
NA |
24.4 |
832.9 |
Five top executives |
|
|
Maaden |
19.4 |
21.7 |
23.8 |
5227.7 |
Five top executives |
|
|
Sipchem |
18.2 |
19.5 |
23.6 |
3591.8 |
Five top executives |
|
|
Bahri |
15.4 |
17.3 |
23.1 |
192.4 |
Five top executives |
|
|
Tawuniya |
15.5 |
21.4 |
22.8 |
266.3 |
Five top executives |
|
|
Aldrees |
29.4 |
18.0 |
22.2 |
176.8 |
Five top executives |
|
|
eXtra |
22.5 |
19.7 |
21.6 |
396.8 |
Five top executives |
|
|
Alinma Bank |
47.1 |
37.2 |
20.8 |
2709.4 |
Six top executives |
|
|
Bank AlJazira |
35.7 |
44.5 |
20.4 |
1006.1 |
Five top executives |
|
|
Tadawul Group |
17.3 |
26.3 |
20.4 |
587.7 |
Five top executives |
|
|
Arabian Contracting Services |
NA |
NA |
20.0 |
206.2 |
Five top executives |
|
|
Emaar EC |
15.8 |
15.0 |
18.4 |
(827.0) |
Five top executives |
|
|
Al Othaim |
11.9 |
13.4 |
18.4 |
305.1 |
Five top executives |
|
|
Saudi Cement |
14.0 |
16.4 |
16.9 |
331.9 |
Five top executives |
|
|
Arriyadh Development |
7.0 |
7.8 |
16.6 |
318.3 |
Five top executives |
|
|
Budget Saudi |
14.6 |
9.5 |
15.9 |
219.9 |
Five top executives |
|
|
Tanmiah Food |
NA |
11.9 |
15.4 |
13.6 |
Eight top executives |
|
|
Seera |
24.3 |
30.5 |
15.3 |
(376.0) |
-- |
|
|
Aldawaa |
NA |
NA |
15.2 |
239.2 |
Five top executives |
|
|
SGS |
8.4 |
8.3 |
14.4 |
(254.4) |
Six top executives |
|
|
Aseer |
9.4 |
8.4 |
13.8 |
(63.5) |
Seven top executives |
|
|
Dallah Healthcare |
12.0 |
12.3 |
13.7 |
258.6 |
Five top executives |
|
|
Zain KSA |
16.8 |
16.1 |
13.5 |
214.3 |
Five top executives |
|
|
Dar Al-Arkan |
8.7 |
10.7 |
13.5 |
132.5 |
Five top executives |
|
|
|
||||
|
Company |
Top Executives 2020 (SAR mln) |
Number |
Top Executives 2021 (SAR mln) |
Number |
|
Banking Sector |
||||
|
Riyad |
37.0 |
6 |
37.6 |
6 |
|
AlJazira |
44.5 |
5 |
20.4 |
5 |
|
SAIB |
38.6 |
NA |
36.1 |
NA |
|
Saudi Fransi |
34.7 |
5 |
36.2 |
5 |
|
SABB |
35.9 |
5 |
52.2 |
5 |
|
ANB |
51.9 |
NA |
47.6 |
NA |
|
Al Rajhi |
25.5 |
5 |
41.4 |
5 |
|
Albilad |
40.2 |
7 |
41.8 |
7 |
|
Alinma |
37.2 |
6 |
20.8 |
6 |
|
SNB |
54.8 |
5 |
60.3 |
6 |
|
Amlak |
9.5 |
5 |
10.4 |
5 |
|
Materials |
||||
|
Chemanol |
6.7 |
NA |
5.7 |
NA |
|
Petrochem |
7.4 |
5 |
6.5 |
5 |
|
SABIC |
39.5 |
5 |
|
5 |
|
SABIC Agri-Nutrients |
7.4 |
5 |
9.5 |
5 |
|
Tasnee |
29.3 |
6 |
27.2 |
4 |
|
Alujain |
1.4 |
2 |
1.2 |
2 |
|
Nama Chemicals |
3.5 |
4 |
4.7 |
NA |
|
SIIG |
8.2 |
NA |
7.1 |
NA |
|
Yansab |
7.4 |
6 |
6.4 |
5 |
|
Sipchem |
19.5 |
5 |
23.6 |
5 |
|
Advanced |
12.2 |
7 |
26.7 |
7 |
|
Kayan |
5.7 |
NA |
5.2 |
5 |
|
Hail Cement |
4.2 |
4 |
5.3 |
NA |
|
Najran Cement |
5.2 |
NA |
6.7 |
NA |
|
City Cement |
3.2 |
5 |
7.7 |
5 |
|
Northern Cement |
4.8 |
5 |
5.9 |
5 |
|
Umm Al Qura Cement |
4.4 |
NA |
5.7 |
NA |
|
Arabian Cement |
6.7 |
5 |
4.8 |
5 |
|
Yamamah Cement |
8.4 |
5 |
8.0 |
6 |
|
Saudi Cement |
16.4 |
5 |
16.9 |
5 |
|
Qassim Cement |
11.2 |
5 |
13.4 |
5 |
|
Southern Cement |
4.9 |
6 |
6.9 |
6 |
|
Yanbu Cement |
8.2 |
5 |
12.3 |
7 |
|
Eastern Cement |
11.8 |
5 |
12.4 |
5 |
|
Tabuk Cement |
1.9 |
NA |
2.8 |
NA |
|
Al Jouf Cement |
2.9 |
5 |
3.3 |
NA |
|
Al Kathiri |
0.7 |
2 |
0.7 |
2 |
|
Takween |
7.6 |
3 |
8.8 |
4 |
|
Basic Chemical |
6.4 |
4 |
6.9 |
8 |
|
Maaden |
21.7 |
6 |
23.8 |
5 |
|
Zahrat Al Waha |
9.8 |
5 |
4.3 |
5 |
|
MEPCO |
3.2 |
5 |
13.0 |
5 |
|
AMAK |
NA |
NA |
7.3 |
NA |
|
Zoujaj* |
1.7 |
5 |
NA |
NA |
|
FIPCO |
5.1 |
5 |
4.1 |
6 |
|
Maadaniyah |
4.8 |
5 |
5.5 |
NA |
|
Saudi Paper |
7.56 |
6 |
8.1 |
7 |
|
Al Yamamah Steel |
6.5 |
5 |
8.3 |
NA |
|
Aslak |
3.5 |
NA |
5.4 |
5 |
|
Saudi Steel Pipe |
5.0 |
6 |
3.5 |
3 |
|
National Gypsum |
1.5 |
5 |
1.7 |
5 |
|
Arabian Pipes* |
4.7 |
5 |
4.9 |
5 |
|
Zamil Industrial |
5.6 |
4 |
5.7 |
4 |
|
Capital Goods |
||||
|
Al-Omran |
1.4 |
3 |
2.0 |
3 |
|
Astra |
9.6 |
5 |
11.6 |
5 |
|
SIECO* |
1.6 |
2 |
1.6 |
2 |
|
Bawan |
1.5 |
NA |
3.2 |
NA |
|
Electrical Industries |
5.3 |
5 |
6.8 |
5 |
|
Saudi Ceramic |
6.3 |
6 |
7.3 |
5 |
|
Saudi Cable* |
6.7 |
5 |
NA |
NA |
|
Amiantit |
8.4 |
NA |
11.4 |
5 |
|
Al-Babtain |
4.7 |
NA |
4.2 |
NA |
|
SVCP |
12.4 |
5 |
10.5 |
5 |
|
MESC |
4.7 |
5 |
4.2 |
5 |
|
Energy |
||||
|
Petro Rabigh |
8.9 |
NA |
5.7 |
5 |
|
Aldrees |
18.0 |
5 |
22.2 |
5 |
|
Aramco |
92.6 |
6 |
89.3 |
6 |
|
SARCO |
0.7 |
3 |
0.7 |
3 |
|
Bahri |
17.3 |
5 |
23.1 |
5 |
|
Health Care Equipment |
||||
|
Sulaiman Al Habib |
31.1 |
5 |
29.9 |
5 |
|
Saudi German Hospital |
4.1 |
5 |
5.3 |
5 |
|
Mouwasat |
23.3 |
5 |
26.4 |
5 |
|
Al Hammadi |
7.7 |
5 |
7.7 |
5 |
|
Scientific and Medical Equipment* |
NA |
NA |
NA |
NA |
|
Dallah Healthcare |
12.3 |
5 |
13.7 |
5 |
|
Care |
8.9 |
5 |
8.9 |
NA |
|
Ayyan Investment |
1.8 |
5 |
1.7 |
5 |
|
Saudi Chemical |
12.3 |
5 |
11.2 |
5 |
|
Consumer Durables |
||||
|
Thob Al Aseel |
7.5 |
5 |
5.4 |
NA |
|
Lazurde |
8.5 |
5 |
8.3 |
NA |
|
Fitaihi |
3.1 |
5 |
2.9 |
5 |
|
Naseej |
4.5 |
5 |
4.5 |
5 |
|
Al Abdullatif |
3.3 |
7 |
3.3 |
7 |
|
SEDC |
3.2 |
6 |
3.0 |
5 |
|
Food & Staples Retailing |
||||
|
Aldawaa |
NA |
NA |
15.2 |
5 |
|
BinDawood Holding |
55.0 |
5 |
45.7 |
5 |
|
Almunajem Foods* |
NA |
NA |
NA |
NA |
|
Nahdi Medical |
NA |
NA |
27.3 |
5 |
|
Al Othaim |
13.4 |
5 |
18.4 |
5 |
|
Farm Superstores |
5.8 |
5 |
4.2 |
4 |
|
Anaam Holding |
6.2 |
5 |
3.9 |
5 |
|
Retailing |
||||
|
Abo Moati (its fiscal year ends in March)* |
1.9 |
3 |
NA |
NA |
|
Baazeem |
3.1 |
NA |
3.4 |
NA |
|
eXtra |
19.7 |
5 |
21.6 |
5 |
|
SASCO |
9.2 |
5 |
6.6 |
5 |
|
Jarir |
34.4 |
5 |
36.6 |
5 |
|
Fawaz Alhokair (its fiscal year ends in March)* |
11.2 |
5 |
NA |
NA |
|
SACO |
5.1 |
6 |
5.9 |
5 |
|
Shaker |
5.3 |
5 |
7.9 |
5 |
|
Consumer Services |
||||
|
Raydan |
3.0 |
2 |
2.8 |
7 |
|
Leejam Sports |
4.4 |
5 |
4.1 |
NA |
|
NCLE (its fiscal year ends in *(August |
5.5 |
5 |
2.4 |
5 |
|
|
3.2 |
5 |
4.1 |
NA |
|
Alkhaleej Training |
9.5 |
NA |
10.5 |
NA |
|
Development Works Food |
1.4 |
5 |
1.3 |
5 |
|
Herfy |
8.6 |
5 |
6.8 |
5 |
|
Seera |
30.5 |
5 |
15.3 |
NA |
|
Alhokair Group |
3.6 |
5 |
5.0 |
5 |
|
Shams |
1.8 |
4 |
2.0 |
5 |
|
Dur |
6.6 |
5 |
5.0 |
5 |
|
Utilities |
||||
|
GASCO |
6.4 |
5 |
8.2 |
6 |
|
Acwa Power |
NA |
NA |
117.2 |
6 |
|
Alkhorayef |
8.7 |
5 |
10.0 |
5 |
|
Saudi Electricity |
17.4 |
5 |
29.6 |
5 |
|
Food & Beverages |
||||
|
Savola |
31.0 |
5 |
33.5 |
5 |
|
Wafrah |
1.8 |
5 |
2.0 |
5 |
|
SADAFCO (fiscal year ends in March )* |
12.3 |
6 |
NA |
NA |
|
Tanmiah Food |
11.9 |
8 |
15.4 |
8 |
|
Almarai |
32.1 |
5 |
24.5 |
5 |
|
Halwani |
9.3 |
7 |
7.3 |
5 |
|
NADEC |
17.2 |
5 |
10.7 |
5 |
|
GACO |
0.7 |
2 |
2.0 |
3 |
|
TADCO |
4.4 |
5 |
4.1 |
8 |
|
Saudi Fisheries |
2.3 |
2 |
2.4 |
3 |
|
Ash-Sharqiyah Development |
0.1 |
1 |
0.9 |
2 |
|
Al-Jouf Agricultural |
3.1 |
5 |
4.0 |
5 |
|
JAZADCO |
2.7 |
5 |
3.7 |
5 |
|
Commercial & Professional Services |
||||
|
Saudi Catering |
6.2 |
NA |
9.8 |
NA |
|
Maharah |
8.4 |
5 |
7.4 |
5 |
|
Saudi Printing |
5.8 |
5 |
9.4 |
5 |
|
Sadr Logistics |
1.4 |
3 |
3.1 |
6 |
|
Telecommunication Services |
||||
|
stc |
45.8 |
5 |
47.1 |
5 |
|
Mobily |
21.0 |
5 |
26.1 |
5 |
|
Zain KSA |
16.1 |
5 |
13.5 |
5 |
|
Etihad Atheeb (fiscal year ends in March)* |
4.7 |
5 |
NA |
NA |
|
Software & Services |
||||
|
solutions |
NA |
NA |
24.4 |
5 |
|
Arab Sea |
1.6 |
5 |
1.8 |
5 |
|
MIS |
7.0 |
5 |
6.9 |
5 |
|
Elm |
NA |
NA |
28.5 |
5 |
|
Insurance |
||||
|
Tawuniya |
21.4 |
5 |
22.8 |
5 |
|
AlJazira Takaful |
7.2 |
5 |
7.4 |
5 |
|
Malath Insurance |
7.9 |
5 |
7.2 |
5 |
|
Medgulf |
7.5 |
5 |
6.4 |
5 |
|
Allianz SF |
9.1 |
8 |
4.2 |
6 |
|
Salama |
4.4 |
5 |
2.6 |
5 |
|
Walaa Insurance |
7.8 |
5 |
6.7 |
5 |
|
Arabian Shield |
8.0 |
6 |
7.3 |
6 |
|
SABB Takaful |
7.8 |
5 |
5.1 |
5 |
|
SAICO |
7.6 |
5 |
9.2 |
5 |
|
Gulf Union |
6.8 |
5 |
8.8 |
5 |
|
ACIG |
6.2 |
5 |
5.8 |
6 |
|
Arabia Insurance |
4.2 |
5 |
4.3 |
5 |
|
Al Sagr |
5.3 |
5 |
4.9 |
5 |
|
Al-Etihad Insurance |
8.3 |
5 |
8.2 |
5 |
|
Wataniya |
11.0 |
5 |
11.0 |
5 |
|
Amana Insurance |
2.6 |
7 |
6.7 |
7 |
|
AXA Cooperative |
10.2 |
5 |
10.2 |
5 |
|
Gulf General |
3.2 |
5 |
4.4 |
5 |
|
Buruj |
4.4 |
5 |
3.2 |
6 |
|
Al Alamiya |
7.4 |
5 |
6.8 |
5 |
|
Saudi Re |
9.8 |
5 |
11.2 |
5 |
|
UCA |
5.9 |
5 |
NA |
NA |
|
Bupa Arabia |
32.6 |
5 |
44.5 |
NA |
|
Chubb Arabia |
5.7 |
5 |
4.2 |
5 |
|
Saudi Enaya |
5.1 |
6 |
5.2 |
5 |
|
Al Rajhi Takaful |
8.6 |
5 |
12.0 |
5 |
|
Alinma Tokio |
4.3 |
5 |
3.7 |
5 |
|
Diversified Financials |
||||
|
SAIC |
2.5 |
NA |
2.9 |
4 |
|
Kingdom Holding |
26.0 |
5 |
57.6 |
5 |
|
Aseer |
8.4 |
5 |
13.8 |
7 |
|
Al Baha |
0.3 |
2 |
0.3 |
2 |
|
Nayifat |
21.4 |
5 |
9.3 |
5 |
|
Tadawul Group |
26.3 |
5 |
20.4 |
5 |
|
|
||||
|
SPIMACO |
6.9 |
6 |
9.1 |
5 |
|
Real Estate Management & Development |
||||
|
Red Sea |
9.8 |
6 |
9.1 |
5 |
|
Alandalus |
7.7 |
5 |
6.9 |
5 |
|
Arabian Centres (its fiscal year ends in March)* |
12.1 |
5 |
NA |
NA |
|
Al Akaria |
9.2 |
6 |
11.5 |
5 |
|
Taiba Investments |
9.1 |
5 |
8.4 |
5 |
|
Arriyadh Development |
7.8 |
5 |
16.6 |
5 |
|
Emaar EC |
15.0 |
6 |
18.4 |
5 |
|
Makkah Construction |
1.2 |
3 |
1.0 |
2 |
|
Jabal Omar |
11.1 |
5 |
8.9 |
5 |
|
Dar Al Arkan |
10.7 |
5 |
13.5 |
5 |
|
Knowledge Economic City |
6.9 |
4 |
8.4 |
4 |
|
Transportation |
||||
|
SISCO |
10.2 |
5 |
10.8 |
3 |
|
SGS |
8.3 |
6 |
14.4 |
6 |
|
Theeb Rent a Car |
4.6 |
5 |
5.0 |
NA |
|
SAPTCO |
10.4 |
5 |
11.8 |
5 |
|
BATIC |
4.1 |
NA |
5.0 |
5 |
|
Budget Saudi |
9.5 |
5 |
15.9 |
5 |
|
Media and Entertainment |
||||
|
Arabian Contracting Services |
NA |
NA |
20.0 |
5 |
|
Tihama (fiscal year ends in March )* |
5.3 |
5 |
NA |
NA |
|
SRMG |
4.7 |
NA |
12.3 |
NA |
*Not disclosed its board’s report so far.
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