The world’s largest smelter outside China and two of the country’s leading banks are Bahrain’s sole representatives in Forbes’ ranking of the Middle East’s Top 100 Listed Companies.In 50th place, Alba is the Middle East’s largest producer of aluminium, with a production of more than 1.6 million metric tonnes in 2022. Led by Ali Al Baqali as chief executive, the company is dually listed on Bahrain Bourse and the London Stock Exchange. Alba is 69.38 per cent owned by Mumtalakat, Bahrain’s sovereign wealth fund, while Sabic Industrial Investments Company owns 20.62pc. The company reported profits of $1.1 billion on sales of $4.9bn. It has a market value of $3.9bn and assets of $7bn.Bank ABC is the second highest ranked Bahraini listed company on the list, in 94th place. Sael Al Waary is the group chief executive of the bank that offers international wholesale banking services through a network of 145 branches across five continents and 15 countries. The bank’s net profit increased by 63.3pc to $209m in 2022. The Central Bank of Libya and the Kuwait Investment Authority are its major shareholders. Bank ABC has a market value of $809m and assets worth $36.6bn.Rounding up the local presence on the list is National Bank of Bahrain (NBB) in 95th place. Established in 1957, NBB operates in Bahrain, the UAE and Saudi Arabia. The bank owns 78.8pc of the Bahrain Islamic Bank, which operates under an Islamic retail banking licence. In 2022, NBB reported a 28.5pc increase in net profits to $188m. The bank’s market value is $3.6bn and assets are worth $12.7bn. Usman Ahmed assumed his role as group chief executive of the bank in January this year. (ICE Doha)

Fonte notizia: Gulf Daily News