Business

Hoa Phat Group, four Vietnamese banks among world’s 2,000 largest companies

Hoa Phat Group and four commercial banks of Vietnam have been named in this year’s Forbes list of the world’s 2,000 largest companies (Global 2000).
Hoa Phat Group, four Vietnamese banks among world’s 2,000 largest companies ảnh 1Customers conduct transactions at a branch of Vietcombank in Hanoi. (Photo: VNA)

Hanoi(VNA) – Hoa Phat Group and four commercial banks of Vietnam have been named in thisyear’s Forbes list of the world’s 2,000 largest companies (Global 2000).

In thelatest ranking, Joint Stock Commercial Bank for ForeignTrade of Vietnam (Vietcombank) ranks at the 950th position while Vietnam Technological and Commercial Joint StockBank (Techcombank) stands at 1,874th.

This year,Hoa Phat Group is named on the list for the first time with revenues of 1.5billion USD and market value of 8.53 billion USD.

The totalcapitalisation of the four Vietnamese banks on the list reached 46.84 billionUSD, in which the market value of Vietcombank accounted for more than 36 percent..

Forbes saidthat despite the challenges of the COVID-19 pandemic and Russia-Ukraine conflict, the world’s top companiesstill managed to boost sales and profits last year. Besides, the stock values ofcompanies also dropped as inflation and bearish market hindered economicrecovery.

BerkshireHathaway of billionaire Warren Buffett took the No. 1 spot for the first time since Forbes started publishing Global 2000 in 2003, dethroning the Industrial and Commercial Bank ofChina, which dropped to No. 2 after nine consecutive years at the top of thelist, it said.

Big oil groups rebounded rapidly from last year’s low ranks thanks to rising oil prices.ExxonMobil rose from 317th in 2021 to15th this year, while Shell jumped to 16th from 324th. Both companies sawprofits swing back into positive territory after last year’s losses.

Compared tolast year, the minimum capitalisation of companies plummeted from 8.26 billionUSD to 7.6 billion USD. However, the minimum levels of other indexes allincreased over the same period.

Companies inGlobal 2000 recorded a total of 47.6 trillion USD in revenue, 5 trillion USD inprofits, 233.7 trillion USD in assets, and 76.5 trillion USD in marketcapitalisation.

There are 58countries represented in the 2022 list, in which, the US is the leading nation with 590 companies, followed by China (including Hong Kong) with 351 companiesand Japan with 196 companies./.

VNA
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