Top 10 Companies in Saudi Arabia
Discover the top 10 list of the largest companies in Saudi Arabia. The list is topped by Saudi Aramco, SABIC and Saudi National Bank, ranked #1, #2 and #3 respectively, in Forbes’ Top 100 Listed Companies in the Middle East for 2022.
Discover the top 10 list of the largest companies in Saudi Arabia. The list is topped by Saudi Aramco, SABIC and Saudi National Bank, ranked #1, #2 and #3 respectively, in Forbes’ Top 100 Listed Companies in the Middle East for 2022.
Top 10 Companies in Saudi Arabia | Saudi Arabia’s Largest Companies
The List
| Rank | Company | Country | Industry | Market Value | Assets | Description |
|---|---|---|---|---|---|---|
| 1 |
Saudi Aramco |
Saudi Arabia | Oil & Gas | $2.3 trillion | $576.7 billion | Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian public petroleum and natural gas company based in Dhahran. It is the world’s largest oil company and most valuable worldwide as of 2022. Saudi Aramco is headquartered in Dhahran, but its operations span the globe and include exploration, production, refining, chemicals, distribution and marketing. All these activities of the company are monitored by the Saudi Arabian Ministry of Petroleum and Mineral Resources together with the Supreme Council for Petroleum and Minerals. |
| 2 |
SABIC |
Saudi Arabia | Industry | $100.5 billion | $84.9 billion | Saudi Basic Industries Corporation, known as SABIC, is a Saudi chemical manufacturing company. It is 70% owned by Aramco and 30% owned by the private sector. SABIC is active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals. It is the second largest public company in the Middle East and Saudi Arabia. The company has operations in over 50 countries and a global workforce of over 31,000 people. It has been recognized as the world’s second most valuable brand in the chemicals industry. |
| 3 |
Saudi National Bank |
Saudi Arabia | Banking & Finance | $87.3 billion | $243.8 billion | The Saudi National Bank (SNB) is the largest financial institution in Saudi Arabia and one of the largest powerhouses in the region. SNB plays a vital role in supporting economic transformation in Saudi Arabia by transforming the local banking sector and catalyzing the delivery of Saudi Arabia’s Vision 2030. Its strategy is closely aligned with the Vision’s programs. SNB also leverages its position as the largest institutional and specialized financier in the Kingdom to support the Kingdom’s landmark deals and mega projects. |
| 4 |
Al Rajhi Bank |
Saudi Arabia | Banking & Finance | $119.9 billion | $166.3 billion | Established as an exchange house in 1957 and converted to a bank in 1988, Al Rajhi Bank is a Saudi Arabian bank and the world’s largest Islamic bank by capital. The bank has a network of over 521 branches and 212 remittance centers across the Kingdom, as well as over 12 million customers. Rooted in Islamic banking principles, the Sharia compliant banking group is instrumental in bridging the gap between modern financial demands and Sharia intrinsic values, whilst spearheading numerous industry standards and development. |
| 5 |
Saudi Electricity |
Saudi Arabia | Utilities | $29.8 billion | $126.6 billion | Saudi Electricity Company is the Saudi electric energy company. It enjoys a monopoly on the generation, transmission and distribution of electric power in Saudi Arabia through 45 power generation plants in the country. It is the region’s biggest utility company. Its objective is to generate, transmit and distribute electric power in the Kingdom of Saudi Arabia either by itself or through its wholly or partially owned subsidiaries. Saudi Electricity is majority-owned by Saudi’s Public Investment Fund (PIF), which has a 74.3% stake, while Saudi Aramco owns 6.9%. |
| 6 |
Saudi Telecom Company |
Saudi Arabia | Telecoms | $60.8 billion | $34.1 billion | STC is a leading telecom and technology services provider for individuals and businesses. The company offers a variety of ICT solutions and digital services in several categories including telecommunications, IT, financial technology, digital media, cybersecurity, and other advanced digital solutions. In March 2022, STC signed an agreement with the Public Investment Fund to establish a jointly-owned company specializing in services related to the Internet of Things. STC also plans to create a new data center company with an initial capital of $26.7 million. |
| 7 |
Riyad Bank |
Saudi Arabia | Banking & Finance | $31.8 billion | $86.9 billion | Riyad Bank is one of the largest financial institutions in Saudi Arabia. It was established in 1957. The bank employs over 6,620 people and has 340 branches in Saudi Arabia, one in the UK, an agency in the US, and a representative office in Singapore. Riyad Bank provides a comprehensive range of products and services fully compliant with the Islamic Sharia to meet the needs of both retail and corporate customers, including SMEs. It plays a leading role in various areas of finance and investment around Saudi Arabia, and is distinguished as a leading financier and arranger of syndicated loans in the oil, petrochemicals and most of the Kingdom’s notable infrastructure projects. |
| 8 |
Ma’aden |
Saudi Arabia | Mining | $45 billion | $27.6 billion | Saudi Arabian Mining Company (Ma’aden) is a Saudi state-owned mining company headquartered in Riyadh. It is among the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. It was formed as a Saudi joint stock company in 1997 for the purpose of facilitating the development of Saudi Arabia’s mineral resources. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). It is the largest mining company in Saudi Arabia. |
| 9 |
Saudi British Bank |
Saudi Arabia | Banking & Finance | $24.3 billion | $72.6 billion | The Saudi British Bank is a Riyadh-based Saudi joint stock company established in 1978. It provides commercial, private, and Islamic banking services to individuals and companies through 108 branches in Saudi Arabia. The bank completed a merger with Alawwal Bank in June 2019. The HSBC Group owns 31% of SABB’s shares. It offers a wide range of personal banking products including loans, mortgages and credit cards. SABB Islamic Financial Solutions, which are part of SABB services, are regulated by the Saudi Arabian Monetary Agency and a Sharia Supervisory Committee. |
| 10 |
Banque Saudi Fransi |
Saudi Arabia | Banking & Finance | $17.7 billion | $57.5 billion | Banque Saudi Fransi is a Saudi Joint Stock Company established by Royal Decree No. M/23 in 1977. The bank is affiliated with Crédit Agricole Corporate and Investment Bank. Over the years, BSF has demonstrated a sustainable pattern of growth that has established its current financial strength and leadership in the Saudi market. In the area of Islamic banking services, Banque Saudi Fransi had made considerable improvement in the development of products and services including enhancements of branches to comply with the provisions of Islamic Sharia and to provide alternative products available to companies and individuals including investment and Global Markets services. |