Forbes Middle East unveiled the list of the 100 largest companies in the Arab world.
In order to set its list, Forbes took the performance of companies in regional stock markets as a key indicator. This stat is usually considered as the performance indicator of a national economy. It is based on four factors: revenues, earnings, turnover and market value.
Of the top 10 companies, 6 are banks
In 2018, many businesses in the region experienced strong growths. Total assets of the top 100 publicly traded companies increased from $ 200 billion to $ 2,900 billion. Among 10 top companies, 6 are banks, and 5 are Saudi. Saudi companies represent almost a third of Forbes listed companies in its top 100.
The leading company is Saudi SABIC, one of the top ten petrochemical companies in the world. Qatar National Bank and First Abu Dhabi Bank complete the podium.