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Business, Banking & Finance, Energy, Infographic

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Banks rule GCC in market capitalization

By TRENDS Desk
September 27, 2021 7:29 am
  • Al Rajhi Bank's market capitalization stands at $80.65 billion
  • In energy sector, Saudi Aramco is much ahead of others with $1.86 trillion

Banking firms in the Arabian Gulf countries dominate the list of top companies in terms of market capitalization, which is the number of shares multiplied by the value of a share on a particular trading day.

Saudi Arabia, which is home to nearly 30 percent of the GCC’s total banking assets and the largest in terms of market capitalization, is leading from the front.

Al Rajhi Bank and National Commercial Bank have the market capitalization worth $80.65 billion and $70.72 billion respectively.

The market capitalization of the UAE’s First Abu Dhabi Bank stands at $54.4 billion, according to the data available at GCC stock markets as of September 23, 2021.

Qatar’s QNB reported its market capitalization at $48 billion, while Qatar Islamic Bank was worth $11.6 billion.

In the energy sector, Saudi Aramco was much ahead of others with $1.862 trillion, according to the September 23 GCC stock market data.

 

 

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