Vietnam banks jump on global list of biggest public firms

Thanh Nien News

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 A file photo of a Vietinbank branch. Photo credit: Vietinbank
Vietnam's top lenders BIDV, Vietinbank and Vietcombank have made huge leaps on Forbes' latest list of 2,000 biggest and most powerful public companies around the world.
BIDV jumped 222 places from a year ago to rank at number 1,691. Its market value was estimated at US$2.6 billion and assets $37.8 billion.
Vietinbank took the 1,808th position with the market value of $2.8 billion and assets of $34.7 billion, up 94 spots from last year.
Vietcombank ranked 1,843rd with assets of $30 billion, up 142 spots. It had a much bigger market value of $5.5 billion, according to Forbes.
This year Chinese banks -- ICBC, China Construction Bank, and Agricultural Bank of China -- remained on the first top positions, despite the economic slowdown in the country, according to Forbes.
Featured companies from 63 countries around the world posted combined revenue of $35 trillion, profit of $2.4 trillion, assets of $162 trillion and market value of $44 trillion, it said.
All the four metrics were down from 2015, such as the decline of 8 percent in the combined market value, it said.
Businesses and their stocks have been pressurized by slowing global growth, collapsing commodity prices and declines in equity markets in the US, China and elsewhere, according to Forbes.

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