HA NOI — Viet Nam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is the only Vietnamese firm entered in the Forbes Global 2000 ranking, occupying the 1764th spot in the list of the world's biggest public companies.
VietinBank gaining the 1682th position in terms of profitability and the 874th in asset value.
VietinBank is a State-owned financial institution, providing commercial banking services for individuals and corporate clients, as well as international clearing services and money transfer services, Forbes said.
"Moreover, the bank provides derivative products, such as spots, forwards, swaps and options. Other operations include financial leasing activities and the offering of guarantee services, insurance services and securities related services."
As of December 31, 2011, Vietinbank had six subsidiaries, one transaction center, three representative offices, 151 first-level branches (including two branches in Laos and Germany), 899 transaction offices and 49 saving funds in 63 cities and provinces throughout Viet Nam.
The rankings of the Forbes top 2000 are determined by an equal weighting of sales, profits, assets and market value.