Saudi Basic Industries Corp (SABIC) came at the top of the largest 100 publicly traded Gulf companies in terms of market value at $ 64 billion followed by Al-Rajhi Bank at $ 30 billion and Saudi Telecommunications Company (STC) at $24 billion in the second and third ranks respectively.

The list was published by Argaam Business info named “Argaam - 100”. The list which is updated on a daily basis covers all Gulf publicly-traded companies.

Emirates Telecommunications Corporation (Etisalat), listed on Abu Dhabi bourse,  came in the fourth rank at $22 billion and Zain, listed on   Kuwaiti bourse,  placed at the fifth rank with the capital market at nearly $17 billion.

According to the study, Saudi companies dominated the list with 38 companies, followed by Emirates companies (22), Kuwaiti and Qatari companies (15 for each), Bahraini companies (8), and Omani companies (2).

Qatar Industries Company ranked 6th in the list of “Top 100” at $16.2 billion, the National Bank of Kuwait in the 7^th  rank ($13.2 billion), Saudi Samba Financial Group in the 8^th rank ($13.1 billion),   National Bank of Qatar ($12.7 billion) and Saudi Electricity Company ($12.3 billion) in the 9^th and 10^th ranks respectively.

Meanwhile, the downward spiral in real estate and banking sectors in Dubai has remarkably contributed to the absence of  Dubai companies from the list of top 20 Gulf companies including Emaar, the biggest real estate in the region at one time, which came in the 23 rd rank and Emirates and National Bank of Dubai (ENBD)  in the 26^th rank.

Based on profit in the last 12 months, SABIC’s rank retreated to  the 4^th rank after having taken the first place for many years due to decline of petrochemical prices, according to the study. The first three ranks went to Saudi Telecommunications, Etisalat and Al-Rajhi Bank respectively as follows:

“Argaam Top 100” also provides detailed data on the top 100 Gulf publicly-traded companies  in terms of market value or profits through 18 sectors including banking, petrochemicals, investment, real estate, telecommunications, industry, services, cement, insurance, transport, brokerage, assets management, contracting, aviation, agriculture, and foodstuff.

On the other hand, data of “Argaam Top 100” is being updated at www.argaam.com on daily basis that will, presumably, allow the visitor  access to top Gulf companies in terms of market value, profits and sectors collectively  or market-by-market basis.