Revealed: Top 10 companies in Kuwait in 2018
The biggest listed companies in Kuwait by market capitalisation
Kuwait’s stock market emerged as one of the favourites in the first half of the year, mainly because of FTSE Russell’s decision to upgrade the index to secondary emerging market status.
Based on market performance, Boursa Kuwait stood out with registered gains (until September) of 9.1 per cent.
The second half of 2018 started on a positive note for GCC stock markets, with Kuwait emerging as the top performer among its regional peers. The performance of these markets was attributed to the strong performance of banking stocks across the Gulf.
Major banks in the region posted solid growth in earnings for Q2, with their profitability being boosted by rising interest rates, an uptick in economic activity, and increased government spending.
Kuwait’s blue chip companies, Kuwait Financial House (KFH) and National Bank of Kuwait (NBK) were the best performers, gaining 8.2 per cent and 8 per cent respectively.
TOP 10 KUWAIT COMPANIES BY MARKET CAP
(By market capitalisation as of September 11, 2018. Source: Reuters Eikon, Markaz Research)
1. National Bank of Kuwait
Market capitalisation: $16.94bn
Sector: Banking and Financial services
Change in ranking: 3
2. Kuwait Finance House
Market capitalisation: $12.36bn
Sector: Banking and Financial services
Change in ranking: 1
3. Mobile Telecommunications Company
Market capitalisation: $6.83bn
Sector: Telecommunication
Change in ranking: -3
4. Agility Public Warehousing Co
Market capitalisation: $4.42bn
Sector: Transportation
Change in ranking: -1
5. Boubyan Bank
Market capitalisation: $4.36bn
Sector: Banking and Financial services
Change in ranking: 2
6. Commercial Bank of Kuwait
Market capitalisation: $3.01bn
Sector: Banking and Financial services
Change in ranking: 13
7. Gulf Bank
Market capitalisation: $2.55bn
Sector: Banking and Financial services
Change in ranking: 0
8. Mabanee Company
Market capitalisation: $2.16bn
Sector: Real Estate
Change in ranking: -4
9. Ahli United Bank
Market capitalisation: $1.98bn
Sector: Banking and Financial services
Change in ranking: -14
10. Boubyan Petrochemical Company
Market capitalisation: $1.92bn
Sector: Industrial Conglomerates
Change in ranking: NA