Vietnamese banks listed in world’s biggest firms
(VOV) - Three Vietnamese banks have entered list of Forbes Global 2000, which is known as a comprehensive list of the world’s largest, most powerful public companies, as measured by revenues, profits, assets and market value.
They are Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
Vietinbank ranks 1,902nd with annual revenue of US$2.3 billion, followed by BIDV (1,913th at US$2.4 billion) and Vietcombank (1,985th at US$1.7 billion).
Two Vietnamese companies-PetroVietnam Gas Joint Stock Corporation (PV GAS) and Vietinbank- were also named in Forbes Global 2000 list 2014.
This year’s Global 2000 companies hail from 61 countries and account for combined revenues of US$39 trillion, profits of US$3 trillion, with assets worth US$162 trillion, and a market value of US$48 trillion.
Thanks to a bull market, the total market value of Global 2000 companies grew 9% year-over-year, the most among the four metrics.
For the first time, China’s four biggest banks own the top four spots. Industrial and Commercial Bank of China tops the list for a third consecutive year, while Bank of China jumped 5 spots to the No.4 spot, knocking down JP Morgan Chase.
Berkshire Hathaway stays at the 5th place, making Warren Buffet’s conglomerate the largest US company this year.
The 13th annual snapshot of the world’s largest companies shows the dominance of the US and China in the current global business landscape. The two countries split the top 10 spots for a second year in a row.
Beyond the top 10, US still leads the list with 579 companies. China (mainland and Hong Kong) has still has fewer than half that—232 to be exact—but added more spots than any other country in the world, and surpassed Japan for the first time.
Europe overall lost 20 spots to finish with 486 companies this year, falling further behind Asia (691) and North America (645) in continental rankings.
Banks and diversified financials continue to dominate with 434 members. Next up remains oil and gas companies and construction companies.