Home World Middle East Revealed: Top 10 companies in the Middle East in 2020 In this year’s Forbes list of the Middle East’s Top 100 Companies 2020, Saudi Arabia led the pack with 33 entries by Gulf Business June 8, 2020 The year 2020 began on an ambivalent note. The coronavirus pandemic set a new world order in motion, enforcing quasi or complete lockdowns, morphing workplaces into remote desks and prompting industries to rethink their strategies for short- and long-term sustainability. However, by the end of the first quarter, the outlook didn’t seem too bleak for listed stalwarts in the Middle East. In this year’s Forbes list of the Middle East’s Top 100 Companies 2020, oil giant Saudi Aramco reigned, representing 49 per cent of aggregate sales of the top 100 companies, and 59.6 per cent of its net profits. Collectively, the 100 companies made $670bn in sales and $148bn in net profits, held $3.5 trillion in assets, and were worth $2.3 trillion in terms of market capitalisation for the financial year 2019/20. Saudi Arabia took the lead in terms of country domination as well, with 33 companies present in the list, followed by the UAE with 21 companies. Category-wise, the banking and financial services sector ruled the list, followed by the industrials sector. According to the Forbes list, the top 10 most profitable companies listed on the region’s bourses are as follows: Saudi Aramco Country: Saudi Arabia Sector: Energy Sales: $329.8bn Market Value: $1.6 trillion QNB Country: Qatar Sector: Banks and financial services Sales: $16.3bn Market Value: $42.6bn First Abu Dhabi Bank Country: UAE Sector: Banks and financial services Sales: $9.1bn Market Value: $28.7bn SABIC Country: Saudi Arabia Sector: Industrials Sales: $37.3bn Market Value: $56bn Emirates NBD Country: UAE Sector: Banks and financial services Sales: $9.8bn Market Value: $12.4bn National Commercial Bank Country: Saudi Arabia Sector: Banks and financial services Sales: $6.8bn Market Value: $27.8bn Al Rajhi Bank Country: Saudi Arabia Sector: Banks and financial services Sales: $5.3bn Market Value: $35.9bn Saudi Telecom Country: Saudi Arabia Sector: Telecommunications Sales: $14.5bn Market Value: $46.7bn Etisalat Group Country: UAE Sector: Telecommunications Sales: $14.2bn Market Value: $33.2bn National Bank of Kuwait Country: Kuwait Sector: Banks and financial services Sales: $4.5bn Market Value: $ 15.7bn Tags Al Rajhi Bank Emirates NBD Etisalat Group First Abu Dhabi Bank Forbes National Bank of Kuwait National Commercial Bank QNB SABIC Saudi Aramco Saudi Telecom 0 Comments You might also like FAB exploring purchase of Turkey’s Yapi Kredi Bank: Reports TAQA, JERA to build cogeneration plant for Saudi Arabia’s SATORP LuLu Group’s potential Abu Dhabi IPO could top $2bn Aramco CEO: “We should abandon the fantasy of phasing out oil and gas”