Riyadh, January 18: stc Group, the leading digital enabler in the region, has succeeded in maintaining the first rank as the most valuable brand in the Middle East in the telecommunication sector, for the third year in a row, according to Brand Finance’s global 500 2023 report.

Thanks to the group’s success, continuous expansion, and growth since the “Dare” strategy launch in 2017. Over the last five years, the brand’s value has increased by almost 100%, from $6.2 billion in 2017 to $12.3 billion in 2022. This achievement results from the brand’s outstanding performance in maintaining its leadership position and enhancing its commercial strength in KSA and the region.

In addition to being the most valuable brand, stc Group ranked among the fastest-growing brands in the region with a growth rate of 16.7% stc Bank also increased by 27.5%, climbed 25 places in the Global 500 ranking, the most by any Middle Eastern brand in the study, profiting from the robust future growth given its dominance in its home market.

The “Brand Finance” report also classifies brands worldwide by measuring brands’ strength globally, using the “Brands Strength” index, external factors, and business performance. It also includes an evaluation of all companies’ activities regionally and internationally. stc Group is considered to be the strongest brand in the Kingdom of Saudi Arabia, Bahrain, and Kuwait.

It is worth noting that, Brand Finance is a world leader in brand valuation, and every year it ranks the strongest and most valuable brands. It evaluates more than 5,000 brands in all sectors and regions every year. Moreover, the report “Brand Finance Global 500 2023” includes the 500 most valuable brands worldwide.

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