Top Money-Making Companies in MENA
Most Profitable Companies in the MENA Region
1. Saudi Aramco
Profit: $106.2 billion
Country: Saudi Arabia
Saudi Aramco is the world’s biggest oil and chemicals company. In 2024, its profit dropped by 12.4%, from $121.3 billion in 2023 to $106.2 billion. This happened because of lower sales, higher costs, and less income from other sources. In June 2024, Aramco sold 1.7 billion shares and raised $12.35 billion. It also gave out $25 billion in contracts to expand its gas production, aiming to grow gas sales by 60% by 2030. In May 2025, it signed 34 deals with U.S. companies worth $90 billion.
2. International Holding Company (IHC)
Profit: $7 billion
Country: United Arab Emirates
Even though IHC’s revenue went up by 54.2% in 2024, its profit dropped 22% to $7 billion. This is because the company spent more on important new projects and expanding its businesses. IHC runs over 1,300 companies and has 86 partnerships in 41 countries. It invests in areas like healthcare, real estate, finance, and IT. In August 2024, NMDC Energy (a company under IHC) raised $876.8 million through an IPO on the Abu Dhabi stock market.
3. stc Group
Profit: $6.6 billion
Country: Saudi Arabia
stc Group had its highest-ever profit in 2024, up 85.7% from 2023. The big jump came from a $3.4 billion gain after selling major parts of its companies TAWAL and the Digital Infrastructure Company. The Public Investment Fund (PIF) owns 62% of stc. By March 2025, stc had 29 million mobile users and 5.9 million landline users in Saudi Arabia. In February 2025, it transferred ownership of TAWAL to a new company mostly owned by PIF and partially owned by stc and other investors.
4. Emirates NBD Group
Profit: $6.3 billion
Country: United Arab Emirates
In 2024, Emirates NBD’s profit grew slightly by 6.9% to $6.3 billion. The bank runs 839 branches in 12 countries and had 9.4 million customers by March 2025. It was formed in 2007 from the merger of Emirates Bank International and the National Bank of Dubai. Its total assets rose to $271.4 billion in 2024.
5. Saudi National Bank (SNB)
Profit: $5.6 billion
Country: Saudi Arabia
SNB’s profit grew by 4.9% in 2024, reaching $5.6 billion. The bank operates 478 branches, 21 service centers, and 93 remittance centers in Saudi Arabia. It also has branches in Bahrain, the UAE, Qatar, and Singapore, with subsidiaries in Pakistan, the Cayman Islands, and Türkiye. By the end of 2024, it served 14.4 million customers and had $294.4 billion in total assets. SNB was created from the merger of National Commercial Bank and Samba Financial Group in 2021.
Published: 23th June 2025
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