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Satyendra Pathak
Doha
This year’s Forbes Global 2000 list has ranked Qatar’s largest financial institution Qatar National Bank (QNB) as the largest bank by asset size in the Middle East and North Africa region.
In the Forbes Global 2000 list released recently, Qatar National Bank (QNB) is the top bank regionally and 190th globally with a market value and assets of $43.7 billion and $264.9 billion, respectively. Other Qatari banks on the list are Qatar Islamic Bank, Masraf Al Rayan, and the Commercial Bank of Qatar.
Established in 1964 as the country’s first Qatari-owned commercial bank, with an ownership structure split between the Qatar Investment Authority (50 percent) and the remaining (50 percent) held by members of the public,
QNB Group has steadily grown to be the biggest bank in Qatar and the largest financial institution in the Middle East and Africa region.
The Group is the largest bank by market capitalisation, total assets, loans, deposits, and profit in Qatar and Middle East and Africa region.
The Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine’s ranking of the world’s top 2,000 companies, based on assets, profits, revenues, and market value.
Oil giant Saudi Aramco made its debut in the fifth place as the most valuable company in the world with a market value worth $1.6 trillion, after completing the largest-ever IPO in the world last year.
Forbes’ 18th annual ranking of the world’s 2,000 largest public companies illustrates the magnitude of the global shutdowns and serves as a warning for more trouble ahead in the coming months.
Most companies on this year’s Global 2000 list have seen their market values drop considerably since last year, and woeful first-quarter earnings provide a painful insight into the impact of the Great Cessation.
The past few months have been especially brutal for the airlines, which saw demand drop lower than after 9/11. American Airlines, for instance, fell from number 372 on the list to 967th after losing a staggering $2.2 billion in its first quarter.
However, not all companies are being negatively affected by the pandemic. The biggest players in e-commerce—including Amazon, Alibaba and Walmart—have all experienced growth thanks to the rise in online shopping. All three moved up on this year’s list.
Banks dominate the 2020 Forbes Global 2000 list, a measure of the world’s largest and most successful companies. Lenders’ importance has rarely been greater as businesses work to stay afloat, markets continue to hum and savers manage their assets. US and Chinese banks lead the industry.
On the financial front, the Industrial and Commercial Bank of China remained in the top spot for the eighth straight year with more than $4.3 trillion in assets. China’s ‘big four’ state-owned banks all wound up in this year’s top 10. JPMorgan Chase is the largest US company at No. 3, falling one spot from last year.
In other bright spots, Zoom and Slack have also been instant beneficiaries of the new work-from-home realities. Both companies made an inaugural appearance on the Global 2000 virtually overnight.
Doha
This year’s Forbes Global 2000 list has ranked Qatar’s largest financial institution Qatar National Bank (QNB) as the largest bank by asset size in the Middle East and North Africa region.
In the Forbes Global 2000 list released recently, Qatar National Bank (QNB) is the top bank regionally and 190th globally with a market value and assets of $43.7 billion and $264.9 billion, respectively. Other Qatari banks on the list are Qatar Islamic Bank, Masraf Al Rayan, and the Commercial Bank of Qatar.
Established in 1964 as the country’s first Qatari-owned commercial bank, with an ownership structure split between the Qatar Investment Authority (50 percent) and the remaining (50 percent) held by members of the public,
QNB Group has steadily grown to be the biggest bank in Qatar and the largest financial institution in the Middle East and Africa region.
The Group is the largest bank by market capitalisation, total assets, loans, deposits, and profit in Qatar and Middle East and Africa region.
The Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine’s ranking of the world’s top 2,000 companies, based on assets, profits, revenues, and market value.
Oil giant Saudi Aramco made its debut in the fifth place as the most valuable company in the world with a market value worth $1.6 trillion, after completing the largest-ever IPO in the world last year.
Forbes’ 18th annual ranking of the world’s 2,000 largest public companies illustrates the magnitude of the global shutdowns and serves as a warning for more trouble ahead in the coming months.
Most companies on this year’s Global 2000 list have seen their market values drop considerably since last year, and woeful first-quarter earnings provide a painful insight into the impact of the Great Cessation.
The past few months have been especially brutal for the airlines, which saw demand drop lower than after 9/11. American Airlines, for instance, fell from number 372 on the list to 967th after losing a staggering $2.2 billion in its first quarter.
However, not all companies are being negatively affected by the pandemic. The biggest players in e-commerce—including Amazon, Alibaba and Walmart—have all experienced growth thanks to the rise in online shopping. All three moved up on this year’s list.
Banks dominate the 2020 Forbes Global 2000 list, a measure of the world’s largest and most successful companies. Lenders’ importance has rarely been greater as businesses work to stay afloat, markets continue to hum and savers manage their assets. US and Chinese banks lead the industry.
On the financial front, the Industrial and Commercial Bank of China remained in the top spot for the eighth straight year with more than $4.3 trillion in assets. China’s ‘big four’ state-owned banks all wound up in this year’s top 10. JPMorgan Chase is the largest US company at No. 3, falling one spot from last year.
In other bright spots, Zoom and Slack have also been instant beneficiaries of the new work-from-home realities. Both companies made an inaugural appearance on the Global 2000 virtually overnight.
