With its headquarter in Riyadh, stc group is the largest in the Middle East and North Africa based on market cap. stc’s revenue for 2019 amounted to 54,376 million SAR (14,500 million US dollars) and the net profit amounted to 10,755 million SAR (2,868 million US dollars).
Stc was established in 1998 and currently has customers around the globe. It is ranking among the world’s top 50 digital companies and the first in the Middle East and North Africa according to Forbes. It focuses on providing services to enterprise and consumer customers through a fiber-optic network that spans 217,000 kilometers. stc group was among the first in MENA region to launch 5G networks and was considered one of the fastest globally in deploying 5G network as stc already deployed 2300 5G towers during 2019. stc group has 14 subsidiaries in the Kingdom, gulf and around the world, and its own 100% of stc Bahrain, 51.8% stake in stc Kuwait and 25% stake in Binariang GSM Holding in Malaysia which owns 62% of Maxis in Malaysia.
In Saudi Arabia (the group’s main operation site) stc operates the largest modern mobile network in the Middle East as it covers more than 99% of the country’s populated areas in addition to providing 4G mobile broadband to about 90% of the population across the Kingdom of Saudi Arabia. In addition to the above-mentioned, stc is a strong regional player in IoT, managed services, system integration, cloud computing, information security, big data Analytics fintech and artificial intelligence.