stc’s market value rises to $59.5 billion to become the largest telecommunications company in the region
stc surpassed its counterparts in the region to become the most valuable brand in the telecommunications sector in ME, and the third most valuable brand in all ME sectors behind Aramco and ADNOC, according to Brand Finance branding.
The company is the region’s fastest-growing brand, up an impressive 14% to US$9.2 billion and simultaneously jumping 51 positions to 189th, making stc the 2nd fastest-growing brand of the largest 20 global telecommunications companies and earning the company a AAA-brand ranking.
According to the ranking of Brand Finance, the stc Group CEO, Engineer Nasser Sulaiman Al Nasser, obtained the “leading global brand guardian” for a leader who contributed to strengthening the brand of a company in the telecommunications sector. The report noted his efforts in supporting the company’s progress in 5G technologies to become a pioneer of digital transformation in the Kingdom and the ME region, in line with the objectives of Vision 2030.
David Haigh, the CEO of Brand Finance, said: “stc’s brand has evolved and grown following its successful masterbrand refresh and extension into Kuwait and Bahrain at the beginning of last year. The company continues to execute its DARE strategy successfully and has strengthened its positioning as a company that enables digital life. Its commitment to digital transformation has been shown with stc Pay, recognized as the first tech unicorn in Saudi Arabia.”
Bloomberg’s data showed that Saudi stc is the largest Gulf telecommunications company in terms of market value, with a value of US$59.5 billion. On the other hand, the Kuwaiti stc ranked 10th in market value, with a value of US$1.4 billion.
