Five local companies — Saudi Aramco, Stc, Al Rajhi Bank, SNB, and Sabic — were named among the world’s 500 most valuable brands in London-based valuation consultancy firm Brand Finance’s latest report (pdf). Collectively, Saudi brands contributed USD 75.5 bn to MENA’s total USD 127.4 bn brand value, according to Arab News.

Aramco retained its position as Saudi’s most valuable brand, with its value rising 0.3% y-o-y to USD 41.7 bn. The oil giant dropped two spots to 38th in the Brand Finance Global 500 but remains the Middle East and North Africa’s top brand and the world’s second most valuable in oil and gas after Shell.

Saudi banks make their mark: Al-Rajhi Bank climbed 45 spots to 309, ranking second among MENA banks, and SNB secured 461, placing third in the region behind Qatar’s QNB.

Stc also became the ninth most valuable telecom brand globally, rising 13 places to rank 136th. with its value increasing 16% to USD 16.1 bn.

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