Vingroup, four Vietnamese banks among world's 2,000 largest firms

By Nguyen Quy June 5, 2021 | 08:29 pm PT

The logo of VietinBank seen at a branch in Hanoi. Photo by Shutterstock/TK Kurikawa.

Vietnam's largest private conglomerate Vingroup, three state-owned banks and a private lender have been included in this year's Forbes list of the world’s 2,000 largest listed firms.

The Forbes Global 2000 list ranks companies based on their revenues, profits, assets and market value. In the latest listing, Vietcombank jumped 52 spots to 885th with revenues of $3.7 billion and a market value of $15.5 billion.

VietinBank rose 287 places to 1,308 with $4.2 billion in revenue and $6.8 billion in market value, while BIDV slipped 127 places to the 1,575th position with corresponding figures of $5.2 billion and $7.3 billion.

This year, Vietnam's top private lender, Techcombank, broke into the list for the first time, standing at 1,914th with revenues of $1.7 billion and market value of $6.1 billion.

Vingroup fell 116 spots to 1,650th with revenues of $4.7 billion and a market value of $21 billion. It has been expanding after starting as a property company, entering retail, logistics, agriculture, education, healthcare, auto, and electronics.

Over the 12 months, the 2,000 companies on the list, have seen their collective market capitalization surge 47 percent to $79.8 trillion, while their collective revenues have slipped 6 percent to $39.8 trillion.

The U.S. continues to have the most companies in the list at 590, followed by China with 350. Chinese and U.S. firms also accounted for most of the top 10 firms on the list.