Tuesday, October 25 2016


VN banks among world's largest companies

Update: May, 08/2015 - 08:07

A Vietcombank transaction office. This bank is among three credit institutions which have made their way into this year's Forbes Global 2000 list. — Photo ebankplus.vn

HA NOI (VNS) — Three Vietnamese banks have made their way into this year's Global 2000, a list of the world's largest and most powerful companies selected by US business magazine Forbes.

The three banks are Viet Nam Bank for Industry and Trade (VietinBank), Bank for Investment and Development of Viet Nam (BIDV), and Bank for Foreign Trade of Viet Nam (Vietcombank).

According to Forbes, factors such as revenues, profits, assets, and market value were considered to measure companies. With its market value reaching US$3 billion and revenue hitting $2.23 billion, as of May 2015, VietinBank ranks 1,902th on the list.

The BIDV has come 1,913rd, with a market value of $2.3 billion and revenue of $2.44 billion. Vietcombank stands at the 1,985th position with a market value of $4.4 billion and $1.65 billion revenue, respectively.

This year's Global 2000 companies hail from 61 countries and account for combined revenues of $39 trillion, profits of $3 trillion, with assets worth $162 trillion, and a market value of $48 trillion. China's biggest banks own the top four spots on the list.

State Bank of Viet Nam Governor Nguyen Van Binh has urged VietinBank and Vietcombank to actively take part in the national banking reform process to help themselves become the leading banks of Viet Nam in the future. — VNS

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