Banking & Finance



January 2, 2019,   1:07 PM

Top 5 Companies In Bahrain 2018

Nermeen Abbas

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Banks and Financial services have led the Bahraini economy during the last year, fueled by the rising interest rates that have supported the sector's profits across the region.

Forbes Middle East lists the Top 5 Companies in the Kingdom of Bahrain which have been apparently dominated by banks. The Ahli United Bank comes at the forefront of the Kingdom's companies, with profits and assets reached $ 667 million and $ 33.2 billion respectively.

Spread across Middle East, North Africa, Europe, the Americas and Asia, Arab Banking Corporation is the second biggest company in Bahrain, with assets hit $ 29.5 billion.

We came up with this list by ranking the listed companies in Bahrain stock market, based on 4 main criteria: revenues, profits, assets and market value for the latest financial year, with equal weights.

 

  • Ahli United Bank

Sector: Banks and Financial Services

Revenues: $ 1.6 B      

Profit: $ 667 M

Assets: $ 33.2 B         

Market Value: $ 4.8 B

The Ahli United Bank was established in Bahrain following a merger between The United Bank of Kuwait PLC and Al-Ahli Commercial Bank B.S.C.  The bank is currently in negotiations with Kuwait Finance House for a potential merger.

AUB is continuously assessing and seeking to expand in the GCC and to acquire complementary banking platforms in identified secondary markets in the Middle East and North Africa.

In addition to wholly owned operations of AUB (Bahrain), AUB (United Kingdom) and AUB (DIFC, UAE), AUB has an 85.5% stake in AUB (Egypt), a 74.9% stake in AUB (Kuwait), a 75% stake in Commercial Bank of Iraq, a 40% stake in United Bank of Commerce & Investment (Libya) and a 35% stake in Ahli Bank (Oman).

 

  • Arab Banking Corporation

Sector: Banks and Financial Services

Revenues: $ 1.8 B

Profit: $ 253 M          

Assets: $ 29.5 B

Market Value: $ 982 M

ABC is an international bank headquartered in Manama, Kingdom of Bahrain. Its network spreads across five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia. 

Founded in 1980, ABC is listed on the Bahrain Bourse and its major shareholders are the Central Bank of Libya and Kuwait Investment Authority. 

 

  • Aluminum Bahrain

Sector: Industrials

Revenues: $ 2.3 B

Profit: $ 246 M          

Assets: $ 4.5 B

Market Value: $ 2.3 B

Aluminium Bahrain (Alba) consistently ranks as one of the largest aluminum smelters in the world. It produces more than 981,000 metric tons per annum of the highest grade aluminum, with products including standard and T-ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminum.

 The company employs over 2,700 people, of whom around 84 percent are Bahrainis. The shareholders of Alba are Bahrain Mumtalakat Holding Company (69.38%), SABIC Investment Company (20.62%) and the General Public (10%).

 

  • Al Baraka Banking Group

Sector: Banks and Financial Services

Revenues: $ 998 M

Profits: $ 207 M         

Assets: $ 25.5 B

Market Value: $ 386 M

Al Baraka Banking Group is licensed as an Islamic wholesale bank by the Central Bank of Bahrain. It has presence through banking units and representative offices in 16 countries, which in turn provide their services through over 700 branches.

The Group operates in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Saudi Arabia and Morocco, in addition to one branch in Iraq and two representative offices in Indonesia and Libya.

 

  • National Bank of Bahrain

Sector: Banks and Financial Services

Revenues: $ 355 M

Profit: $ 162 M

Assets: $ 8.2 B

Market Value: $ 2.3 B

Established in 1957 as Bahrain’s first locally owned Bank, NBB has grown steadily to become the Kingdom’s leading provider of retail and commercial banking services.

The Bank is owned 44.94% by private and institutional shareholders, mainly Bahrainis, 44.18% by Bahrain Mumtalakat Holding Company, which is 100% owned by the Government of the Kingdom of Bahrain and 10.88% by Social Insurance Organization.



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