3 Jordanian companies featured in Forbes’ top 100 companies in Middle East

3 Jordanian companies featured in Forbes’ top 100 companies in Middle East
(File photo: Jordan News)
AMMAN — Forbes has released its highly anticipated list of the top 100 companies in the Middle East, with three Jordanian companies being recognized for their performance. اضافة اعلان

The list predominantly features companies from the Gulf Cooperation Council (GCC), accounting for an impressive 91 percent of the positions. Saudi Arabia leads the pack with 33 companies, closely followed by the UAE with 28, Qatar with 16, and Kuwait with nine, Khaberni reported.

Jordanian companies on the list
Jordan has made its mark with three prominent entries. The Jordanian companies featured on the list are as follows:

Arab Bank Group: Ranking at an impressive 36th position, Arab Bank Group reported a market value of $4.1 billion. The company achieved sales amounting to $3.5 billion, with net profits reaching $544 million. Notably, the company's total assets stood at an impressive $64.5 billion.

Jordan Phosphate Mines Company: Securing the 71st spot, Jordan Phosphate Mines Company reported a market value of $4.1 billion. The company's sales reached $2.5 billion, with profits amounting to $1 billion. Additionally, its total assets were recorded at $2.9 billion.

Arab Potash Company: Arab Potash Company claimed the 80th position on the list, reporting a market value of $3.8 billion. The company achieved sales of $1.8 billion, with net profits totaling $847 million. Arab Potash Company's assets were valued at $2.9 billion.

Growth figures
The companies included in the list have collectively achieved remarkable financial success. With a surge of 38.5 percent in total sales, reaching a staggering $1.1 trillion, and a 37.7 percent increase in profits, amounting to an impressive $277.7 billion, these companies have shown exceptional growth.

Moreover, their combined assets have witnessed a notable 9.5 percent increase, reaching a total of $4.6 trillion by the end of 2022.

Saudi Aramco's continued dominance
Holding its position as the world's largest oil and gas company, Saudi Aramco maintains its supremacy by securing the top spot on Forbes' list.

The company reported extraordinary sales of $604.4 billion, accompanied by a market value of $2.1 trillion that leaves a lasting impression.

Notably, its subsidiary, SABIC, also occupies a prominent position, further solidifying Saudi Arabia's leading presence. Additionally, the Qatar National Bank and the Saudi National Bank feature prominently in the rankings.

Among the notable climbers this year is Mubadala Investment Company, based in the UAE, which has jumped an impressive seven places to secure the fifth position.

The company's market value soared to an impressive $235.9 billion, accompanied by total assets of $62.1 billion, underscoring its significant growth.

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