Vingroup makes jump in Forbes Global 2000 list

By Nguyen Quy   May 15, 2020 | 01:29 pm GMT+7
Vingroup makes jump in Forbes Global 2000 list
A woman rides a bicycle past a logo of Vietcombank, in front of the State Bank of Vietnam building in central Hanoi. Photo by Reuters/Kham.

Vietnam's largest private company, Vingroup, and three of its biggest banks have climbed up the Forbes list of the world’s 2,000 largest listed firms.

The annual Global 2000, which ranks companies based on their revenues, profits, assets, and market value, released on Thursday, saw Vietcombank jump 159 spots to 937th with revenues of $3.7 billion and a market value of $10.8 billion.

BIDV rose 268 places to 1,448 with corresponding figures of $5.1 billion and $6.1 billion, and VietinBank, 174 places to 1,595 with $4.1 billion in revenue and $3.2 billion in market value.

Vingroup ascended 213 spots to 1,534 with revenues of $5.6 billion and a market value of $13.3 billion, the latter value being the highest in the Vietnamese stock market. It has been expanding rapidly after starting as a property company, entering retail, logistics, agriculture, education, healthcare, auto, and electronics.

The companies that made it into the 18th annual Global 2000 are based in 64 economies and account for more than $42.3 trillion in annual revenues and $201.4 trillion in assets.

U.S. companies dominated the list with 588 entries, followed by China with 324. Rounding off the top five are Japan, the U.K. and Canada.

 
 
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