Vietcombank ranks high in Forbes’ Global 2000 annual ranking

Wednesday, May 20, 2020 16:30

Customers at Vietcombank's branch on Giang Vo Street, Ha Noi. Vietcombank is listed at 937th position in the Forbes Global 2000 annual ranking. — VNS Photo Mai Huong

Forbes listed Vietcombank among the world’s 1,000 largest companies in “The World’s Largest Public Companies 2020” report released last week in its Global 2000 annual ranking.

Vietcombank is listed in 937th position, up 159 places since 2019. It is also the only company from Viet Nam to be ranked among the largest 1,000.

Vietcombank saw a strong growth in profit in 2019, with profit before tax reaching VND23.16 trillion (US$994 million), a 24 per cent increase compared to 2018 and surpassing Vietcombank 2019’s target of 12 per cent growth.

This result put it in the group of the top 200 banking institutions with highest profits in the world.

Vietcombank is currently the first Vietnamese bank to possess total assets worth $50 billion and is the most valuable company in Viet Nam’s stock market.

Other than Vietcombank, Viet Nam has three other representatives listed in Forbes’s top 2,000 largest companies, which are Bank for Investment and Develppment of Viet Nam (BIDV), Vingroup and Vietinbank.

Forbes’s Global 2000 ranks 2,000 of the largest publicly listed companies globally.

The ratings are based on scores of revenues, profits, assets and market capitalisation. — VNS

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