The banking and financial services sector tops the list with 42 companies

25 Emirati companies in the "Forbes" for the 100 most powerful in the Middle East

24 new companies entered the list, including the Dubai Electricity and Water Authority (DEWA).

archival

Forbes Middle East revealed its annual list of the "100 Most Powerful Companies in the Middle East" for 2022, in terms of the most valuable and profitable companies in the region.

And it stated in a statement that it had prepared the list based on information and data from the financial markets in the countries of the region, to classify companies according to market value, sales, total assets, and net profits for the year 2021, pointing out that it excluded companies that did not disclose their consolidated and audited financial statements for the year 2021, This is until April 20, 2022.

Aramco tops

For the third year in a row, Saudi Aramco topped the list, with sales of $400.5 billion, and a market value of $2.3 trillion.

While "SABIC" came in second place with sales of 46.6 billion dollars and a market value of 100.5 billion dollars.

countries quotas

Saudi Arabia recorded 33 companies in the list this year, followed by the UAE with 25 companies, then Qatar 16 companies, to form three Gulf countries about 75% of the classification, while Kuwait recorded eight companies, Bahrain five companies, Morocco five companies, Jordan three companies, and Egypt three companies, and Oman two companies.

banking sector

In turn, the banking and financial services sector topped the list with 42 companies, as banks constitute about 50% of the companies classified among the top 10 companies in the Middle East.

Followed by the "industry" and "telecommunications" sectors, with 11 companies each.

However, energy, industrial and petrochemical companies were the most profitable, as they constituted 65% of the total profits of the 100 companies on the list.

consolidated profits

According to "Forbes", the significant increase in oil prices led to a rapid recovery in the Gulf countries, where companies in the Middle East witnessed a strong performance, as the top 100 companies recorded consolidated profits of $201.7 billion in 2021 compared to $91 billion in 2020.

In total, the total market values ​​of 100 companies amounted to four trillion dollars, compared to three trillion dollars in the list last year.

Total corporate assets also increased to $4.2 trillion, and revenues jumped by 44%, or about $794 billion.

New companies

Thanks to the recovery of the business environment, the list for the year 2022 witnessed the entry of 24 new companies, some of which were recently included in the region’s markets, such as the Dubai Electricity and Water Authority “Dewa”, “Alpha Abu Dhabi Holding”, “Vertiglobe”, “ADNOC Drilling” and “ACWA Power”. and Abu Dhabi Ports Group.

Emirati companies

The first 10 Emirati companies included: First Abu Dhabi Bank with a market value of $68.8 billion, Emirates NBD Bank with a market value of $25.8 billion, &e Group with a market value of $83.1 billion, Abu Dhabi National Energy Company (TAQA) with a market value of $41 billion, and International Holding Company With a market value of $110.6 billion, Dubai Electricity and Water Authority (DEWA) with a market value of $38.8 billion, Abu Dhabi Commercial Bank Group with a market value of $19.2 billion, Emaar Properties with a market value of $14 billion, and Dubai Islamic Bank with a market value of 12.3 billion dollars, then "Alpha Abu Dhabi Holding" with a market value of 74.1 billion dollars.

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