Top 10 Listed Companies in Jordan 2025: Amman Stock Exchange Reports Steady Growth

Jordan’s Amman Stock Exchange has been quietly picking up steam over the past year, growing from a market capitalisation of $24 billion in April 2024 to around $26.4 billion by April this year. A quick glance at the top 10 companies confirms banks are still sitting comfortably at the front, claiming seven of the top spots.

First out of the gates is the Arab Bank, a heavyweight institution boasting assets exceeding $71 billion and revenues topping $5 billion. Established way back in 1930 in Palestine, this longstanding giant relocated to Amman in 1948. By late last year, they had already expanded to a sprawling network of 189 branches worldwide, including 68 across Jordan alone. It’s interesting to note their recent foray into fintech territory with their technology division, ACABES. They introduced a banking-as-a-service API platform called \"Omnify\" last October, helping partners embed banking solutions for customers directly—quite a savvy move, I'd say. The group's profits also saw a solid jump, rising by 21% to over $1 billion. Not bad at all, Arab Bank!

Just behind Arab Bank in these rankings is Jordan Phosphate Mines Company (JPMC), which is currently the most valuable firm on the Amman Stock Exchange, holding a market cap of around $6 billion. JPMC had a strong showing in phosphate last year too, producing about 11.5 million tonnes and achieving total sales of more than 11 million tonnes both at home and abroad. They’ve also decided to splash out about $120 million in Shaidiya to build a plant that’ll crank out another two million tonnes using flotation methods. Clearly, there's a strong appetite out there for fertilisers, and JPMC plans to cash in.

Of course, other prominent banks aren’t far behind. Housing Bank, for example, clinched a $75 million deal with the European Bank for Reconstruction and Development (EBRD) earlier this month, aiming specifically to boost small-businesses—an encouraging vote of confidence for entrepreneurs across the kingdom. Their net profit climbed steadily by roughly 7%, reaching a comfortable $212 million.

While we're on the topic of impressive growth, Capital Bank saw an impressive surge in net profit—jumping over 50% to hit $226 million in 2024. This came after some high-profile acquisitions and expansions across Jordan, Iraq, Saudi Arabia and the UAE. Also worth mentioning, they recently partnered with Falcons Soft to expand POS systems around Jordan, aiming to give local merchants cutting-edge e-payment solutions. It's initiatives like these that get Arageek readers excited about the local market's forward momentum.

Meanwhile, Jordan Kuwait Bank (JKB) didn't shy away from bold moves either. Following its notable acquisition of a controlling majority stake in Iraq's Bank of Baghdad, JKB, along with Egypt's Basata Holding, also snapped up a chunky 27.1% share in local e-payment player MadfoatCom. It certainly seems that JKB is widening their horizons beyond straightforward banking—their profits soared by an eye-watering 116%, landing them $274 million. Not too shabby.

One slight surprise, however, is Arab Potash Company (APC). Despite achieving impressive production figures—almost 2.84 million tonnes of potash last year—their profitability unfortunately took a dip, sliding 37% to around $259 million. Mind you, opening APC Trading and Logistics Europe AG late last year hints that they have ambitious plans brewing on the continent, so it's far from game over.

Jordan Islamic Bank enjoyed gentle, steady growth, reporting profits of around $93 million thanks to solid increases in customer base and demand for its banking services. Being part-owned by Bahrain’s Al Baraka Group apparently hasn’t hampered their local appeal in Jordan—quite the opposite, it seems.

When it comes down to keeping Jordan well-fuelled, enter the Jordan Petroleum Refinery Company—the sole local producer responsible for nearly half the country's refined petroleum demand, as well as providing all gas cylinders domestically. Production went up about 9% in 2024, although their profit slipped back slightly by 11.5%, finishing around $103 million. Still, nothing to snease at given their vital role.

Bank al Etihad hasn't missed out either. Having just secured a $30 million eco-friendly finance loan from EBRD to support local SMEs, they're clearly showing they're serious about sustainability and economic growth. Let’s not overlook Bank of Jordan either—they may have had a tricky year with profits dropping 20.6% to $50 million, but their expansion plans in Saudi Arabia and their solid presence across the region suggest it's only a temporary stumble.

Rounding out our list is the Jordan Telecommunications Company—better known under their Orange branding—who're entering satellite internet game recently. Despite being an industry veteran since 1996, their net profits slipped about 9.4% last year to $58 million, but they're clearly betting heavily on satellite connectivity to keep them relevant moving forward.

Overall, it's heartening to witness Jordan's largest listed firms collectively generating around $23.3 billion in revenue for 2024, netting a tidy total profit of $3.4 billion. These top-10 companies alone accounted for a massive $14.8 billion in revenues and pocketed a healthy $3 billion in profit—a pretty sizeable chunk of the market. Secretly wishing I'd invested earlier—but hindsight is always 20/20, isn't it?