Revealed: Top 10 Companies In Bahrain

Firms in the banking and financial sector lead the list of the top companies in Bahrain.

Gulf Business
November 28, 2012

1. Gulf Monetary Group

MCap: $5.4 billion Sector: Banking and Investment Services The Gulf Monetary Group is a Shariah-compliant investment and financial services firm whose operations include investment in real estate operations, equity shares and managed funds.

2. Ahli United Bank

MCap: $3 billion Sector: Banking and Investment Services The lender, which was formed in 2000 following a merger between the United Bank of Kuwait and Al-Ahli Commercial Bank, recently reported a seven per cent rise in net profit to $257.2 million for the nine months ended September 30, 2012.

3. Aluminium Bahrain (Alba)

MCap: $2 billion Sector: Mineral Resources Considered one of the top ten aluminium producers in the world, Alba produces over 880,000 metric tonnes of aluminium per annum.

4. Bahrain Telecommunications Company (Batelco)

MCap: $1.7 billion Sector: Telecommunications Services The Bahraini telecoms firm operates in seven markets across the MENA region and India, and currently has over 11 million subscribers.

5. Arab Banking Corporation (ABC)

MCap: $1.4 billion

6. National Bank of Bahrain (NBB)

MCap: $1.2 billion Sector: Banking and Investment Services Established in 1957 as Bahrain’s first locally owned Bank, NBB is owned 51 per cent by private shareholders and 49 per cent by Bahrain’s Mumtalakat Holding Company.

7. Al Baraka Banking Group

MCap: $0.9 billion Sector: Banking and Investment Services An Islamic bank, Al Baraka is listed on Bahrain’s bourse and Nasdaq Dubai and has an authorised capital of $1.5 billion. Through its subsidiaries and representative offices, it provides services to around one billion people across the world.

8. BBK

MCap: $0.9 billion Sector: Banking and Investment Services BBK, formerly known as the Bank of Bahrain and Kuwait, began operations in 1972 with a capital of BD1 million. The bank has since grown operations and earlier this year reported a nine-month profit of BD32.1 million, up 18.2 per cent from last year.

9. Investcorp Bank

MCap: $0.6 billion Sector: Banking and Investment Services Bahrain-based Investcorp is a global provider of alternative investments with approximately $11.5 billion in assets under management across hedge funds, corporate investment, and real estate.

10. United Gulf Bank (UGB)

MCap: $0.5 billion Sector: Banking and Investment Services Listed on the Bahraini bourse and on Kuwait’s stock exchange, UGB is the asset management and investment banking platform of Kuwait’s KIPCO Group. The bank recently announced a net profit of $4.9 million for the first nine months of the year.
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Bahrain’s economic growth in 2012 is likely to stand at around three per cent, the lowest in the GCC. Growth is assisted by an economic development package from the GCC, which began this year.

Whether higher development spending will help ease social and political strains remains uncertain. Higher political risk perceptions, if they persist, will likely make it harder to generate the private sector growth required to absorb the expanding Bahraini workforce over the coming years.

Click here to view 1-50 top GCC Companies

Click here to view 51-100 top GCC companies

(Research by Kuwait Financial Centre (Markaz); financial data from Reuters July 31 2012).

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