Saudi Arabia is the largest Arab state in Western Asia and second largest oil producer in the world. This kingdom is a goldmine of opportunities and has been often touted as one of the most powerful nations due to its steady economic growth. The rich country is home to some of the finest companies, including those that are ranked highly not just in Saudi Arabia but all over the world.
Here’s a list of the top 10 Saudi companies that have been ranked as per their market capitalization. Those seeking to find work opportunities or even to switch jobs can benefit immensely from the following list –
Saudi Basic Industries Corporation or SABIC is Saudi Arabia’s biggest public company. It is a diversified manufacturing company, actively involved in producing petrochemicals, intermediates, fertilizers, industrial polymers and metals. Founded in the year 1976, the company has its headquarters in Riyadh. Its market capitalization is estimated to be almost $75.98 billion while the annual revenue it generates is nearly $50.65 billion. The current CEO of SABIC is Mohammed Al Mady.
2. Al Rajhi Bank
Al Rajhi is the largest Islamic bank in the whole world. It was established in 1975 and is headquartered in Riyadh. The yearly revenue of this Saudi Arabian bank is estimated to be about $3.39 billion, while the entire company is valued at around $29.59 billion. Its current CEO is Suliman bin Abdulaziz Azzabin.
STC is the abbreviation for Saudi Telecom Company. This public company is among the leading telecommunications companies based in Saudi Arabia and offers mobile (Jawal,) landline (Home,) internet and IPTV services to more than 160 million global customers. It was set up in the year 1998 in Riyadh and has yearly revenue of approximately $15 billion. The market capitalization of STC is almost $19.46 billion.
4. Saudi Electricity Company
Saudi Electricity Company is one of the largest providers of electricity in Saudi Arabia. The publicly listed company has its headquarters in Riyadh and is known to provide different services pertaining to the generation and distribution of power. The market capitalization of Saudi Electricity is estimated to be around $15.72 billion while the annual revenue generated totals to about $$8.15 billion.
Samba Financial Group, previously called The Saudi American Bank, is among the largest banking firms in Saudi Arabia. Established in the year 1980, SAMBA’s yearly revenue is about $1.74 billion while its market value stands at around $11.78 billion.
Mobily is a telecommunications company established in 2005. The market capitalization of this public company is almost $11.15 billion. The annual revenue it generates is around $5.35 billion.
7. Riyad Bank
Riyad Bank is among the major financial institutions of Saudi Arabia and ranks third in terms of assets. As the name suggests, this bank is headquartered in Riyadh and was founded in 1957. It has been providing financial and banking services ever since. With annual revenue of nearly $1.37 billion, the company’s market capitalization is almost $9.68 billion. The Saudi Arabian government owns 51% stock of the firm, which is regulated by Saudi Arabian Monetary Association.
SABB is the abbreviation for the Saudi British Bank. It was set up in 1978 to provide financial and banking services. It is based in Riyadh and also has another branch in London. It is an associated company of the HSBC Group and has a market capitalization of nearly $8.61 billion while the annual revenue it generates is around $1.41 billion.
9. Banque Saudi Fransi
Banque Saudi Fransi specializes in offering corporate banking services. The institution offers automobile, trade finance, home renovation, structured finance and syndicated loans. It also advises on mergers and acquisitions along with private placements, securities brokerage services and treasury services. The annual revenue of the company is approximately $1.02 billion while its market capitalization is approximately $8.56 billion.
This is a petrochemical company focusing on the manufacturing of chemical products. Based in Al-Jubail Industrial City, TASNEE or The National Industrialization Company is a public company with a market capitalization of nearly $6.03 billion. It was established in the year 1985 and annually generates around $5.24 billion.
If you wish to expand your horizon, start searching for a lucrative job in Saudi Arabia. Consider applying to one of the above companies as these prospective employers have huge headcounts and are in a position to pay handsomely.
Author bio: Devika Arora is a professional writer currently focusing on the extensive domain of job search and career building. Professionally affiliated with job search portal Naukrigulf.com, Devika seeks to provide guidance to job seekers through her articles and blogs.