Rabat- Twelve Moroccan companies are ranked in Forbes' Top Companies in the Arab World 2015 list.
Rabat- Twelve Moroccan companies are ranked in Forbes’ Top Companies in the Arab World 2015 list.
Attijariwafa Bank is ranked 23rd in the list, leading the way for Moroccan companies with $3.1 billion in revenue and an asset base of $44.3 billion.
It is followed by Banque Central Populaire (51st), BMCE Bank (55th), Addoha group (115th), Wafa Assurance (118th), Lafarge Maroc (137th), BMCI (153rd), Cements du Maroc (161st), Cosumar (163rd), CIH Bank (179th), Saham Assurance (196th) and Holcim Maroc (200th).
The Gulf companies dominated Forbes’ list. Five of the top ten companies hailed from Saudi Arabia, four were from the UAE and one was from Qatar.
Saudi Arabia’s SABIC topped the list with $50.4 billion in revenues and $90.9 billion worth of assets, followed by Qatar’s QNB in second place and UAE telecom giant Etisalat.
In terms of number of entries, Saudi Arabia was represented by 59 companies with a combined recent market value of $436.5 billion.
In order to compile the list, Forbes based on publicly-listed companies throughout the Arab World that reported audited 2014 financial statements. The magazine ranked the companies according to revenues, net earnings, assets, and market valuation.
The company with the highest composite score ranked first. The one with the lowest score ranked 200th. Market valuation is based on April 1, 2015 closing prices.
Speaking of the ranking, Mrs. Khuloud Al Omian, Editor-in-Chief, Forbes Middle East, said:
“Forbes Middle East is dedicated to celebrating and honoring success across the Arab world and that is what this event is all about.
Low oil prices have made this past year an unpredictable one, but the Top Companies in the Arab World 2015 show that through strong leadership and hard work, no challenge is too great.”
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