After a detailed Survey and a lot of research here is the list of Top 5 Most Valued Brands of Saudi Arabia 2021. Saudi Aramco stands in 1st Position then STC. 3rd SABIC, 4th Al Rajhi, and 5th is NCB.
Saudi Aramco Most valued brand of Saudi Arabia
Saudi Aramco has retained its title of the Most Valued Brands of Saudi Arabia for the second year in a row. Brand value is $37.5 Billion in 2021 as compared to $46.8 Billion in last year (2020). Though there is a decline of 19.9% in the brand value since last year. The company still manages to retain the first position among all other entities across Saudi Arabia. This decline is due to the COVID-19 impact. In the first half of last year. Because of the reduced demand and lower oil prices, which turned negative in April of last year.
STC 2nd Most valued brand of Saudi Arabia
Among the top 5 Most valued brands of Saudi Arabia. STC is the only brand that has grown over the last year. The percentage change in brand value is positive in 2021 as compared to 2020. Currently, STC’s brand value stands at $9.15 Billion versus $8.02 Billion in 2020. The reason for STC’s brand value to grow. Despite the onset of COVID-19 is that the only medium to connect during lockdown was the telecom & technology services. Not only in Saudi Arabia but across the globe people stayed connected online. Giving the maximum business to the telecom & technology service industry.
Sabic is the 3rd Most Valued
Sabic is ranked at number three with a Brand Value of $4.01 Billion in comparison to $4.33 Billion. The value decline from the year 2020 to 2021 is 7.3%. SABIC has retained its position as the third most valuable brand in Saudi Arabia. Despite recording a brand value loss. SABIC is devoted to its vision of becoming the world’s favorite leader in chemicals by 2030. undertaking numerous strategic partnerships over the last year and aligning with the chemical arm of Saudi Aramco which has helped them in retaining their position in terms of brand value.
Al-Rajhi 4th Most valued
Al-Rajhi is ranked at number 4 with a brand value of $3.45 Billion. followed by NCB at number 5 with a brand value of $2.45 Billion. Despite surrendering the top spot for brand strength this year, Al-Rajhi Bank’s Reputation score in Saudi Arabia is far higher than that of any other Saudi bank. Al-Rajhi connects will with Saudi customers fulfilling their emotional needs and leading on the functional aspects of customer service and value.
The brand value of Al-Rajhi has declined by 1.7%. its brand value while NCB experienced a decline of 6.1% of its brand value.
NCB 5th Most valued
NCB decreased value from $3,507M (2020) to $2,446M (2021)
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