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The top ten companies in the Middle East by revenue, according to Forbes Middle East’s top listed companies in 2018

10. National Bank of Kuwait

Established in 1952 as the first local bank and first shareholding firm in Kuwait, the National Bank of Kuwait has built a reputation as “The Bank You Know and Trust.” With US$3.6bn in revenue, the financial institution is Kuwait’s leading bank, providing a full spectrum of innovative and unrivaled financial and investment services to individual, corporate and institutional clients.

 

9. Al Rajhi Bank

With $4.2bn in revenue, Al Rajhi Bank is recognized as being the world’s largest Islamic banks and holds over 600 branches. Founded in 1957, the company is one of the leading banks in Saudi Arabia with more than 9,600 employees. Holding headquarters in the Saudi capital of Riyadh, there are over 4,100 ATMs in the Kingdom and the bank possesses the largest customer base of its kind in Saudi Arabia.

 

8. Emirates NBD

The UAE-based banking company, Emirates NBD, was established in 1963 and currently has approximately 230 branches in the UAE and overseas. It remains the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’ created by The Financial Brand. With a revenue of $6bn, the company has around 9,000 employees of 70 different nationalities working across the UAE, Saudi Arabia, Egypt, Singapore, India and the United Kingdom.

 

7. First Abu Dhabi Bank

Based in Abu Dhabi’s Khalifa Business Park, the firm was formed following a merger between First Gulf Bank and the National Bank of Dubai. The company has conducted operations in over 19 different countries worldwide since it was founded at the beginning of 2017, and has a revenue of approximately $7.2bn. With a commitment to putting customers first, First Abu Dhabi Bank aims to invest continuously in people and technology as it seeks to develop a friendlier customer banking experience.

 

6. National Commercial Bank

Another Saudi bank that generates a significant amount of revenue is the National Commercial Bank with around $9.6bn in reported revenue. As the second biggest bank by asset in the Middle East after Qatar National Bank (QNB), the business owns 90.7% of its investment arm, NCB Capital, and 67% of Türkiye Finans Kat Bankas%u0131 (TFKB), the leading participation bank in Turkey.

 

5. Saudi Telecom

Holding $13.5bn in revenue, Saudi Telecom is one of Saudi Arabia’s largest telecommunications firms. The company is split into three categories: Al-Jawal, Al-Hatif and Enterprise services. Saudi Telecom aims to fulfil and satisfy the market requirements and is keeping up with the latest emerging technologies in the telecommunications industry. As a leading telecom provider in the Kingdom, the company is developing clear strategies to enable its staff to meet changing customer needs and requirements.

 

4. Etisalat

Founded in 1976 in Abu Dhabi, Etisalat operates in 15 countries across the Middle East, Asia and Africa. Confirmed as being the most powerful company in the United Arab Emirates by Forbes Middle East in 2012, the company is one of the region’s internet hubs and leading international voice traffic carriers in the region. Etisalat generates approximately $14.1bn in revenue.

 

3. Saudi Electricity

The company was formed following the merger of existing Saudi firms in the Central, Eastern, Western and Southern regions in 2000. Saudi Electricity is a major provider of electric power in the Kingdom and operates 45 power generation facilities in the country. The company has $15.5bn in revenue with the Saudi government owning around 81% of the firm.

 

2. Qatar National Bank (QNB)

Since being established in 1964, Qatar National Bank (QNB) has become the leading bank in Qatar and the largest financial institution in the Middle East and Africa (MEA). According to Brand Finance Magazine, QNB is currently ranked as the most valuable bank brands in the MEA region and has approximately $13bn in revenue. With an ATM network of more than 4,400 machines and employing over 29,000 in 1,100 locations, QNB is recognized as a global giant in the banking sphere.

 

1. SABIC

Topping the list is leading chemical company SABIC with over $40bn in revenue. With more than 40,000 employees in 50 different countries worldwide, the company manufactures on a global scale and has five key innovation hubs in the Middle East, US, Europe, South East and North East Asia. SABIC specializes in products such as chemicals, commodity and high-performance plastics, agri-nutrients and metals.

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