Vietnam's banking powerhouses secure spots on Forbes' global 2,000 list
Vietnam's banking powerhouses secure spots on Forbes' global 2,000 list
Forbes last week unveiled its annual list of the 2,000 largest companies worldwide in 2023. In a significant feat, Vietnam's banking sector has made a resounding impact, with Vietcombank, BIDV, VietinBank, Techcombank, and MBBank emerging as prominent players in the global financial arena.
Vietnam's banking prowess shone through as the nation proudly saw five esteemed banking institutions on the Forbes Global 2,000 list for 2023.
Leading the pack is Vietcombank, also known as Joint Stock Commercial Bank for Foreign Trade of Vietnam. Forbes ranks Vietcombank at an impressive 813th globally, with reported revenue, profit, assets, and market capitalisation of $4.4 billion, $1.15 billion, $69.13 billion, and $18.13 billion respectively.
Securing the second spot among Vietnam's representatives is the Bank for Investment and Development of Vietnam (BIDV), positioned at a commendable 1,079th globally. BIDV reports revenue, profit, assets, and market capitalisation figures of $6.04 billion, $779.6 million, $89.95 billion, and $9.38 billion.
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) follows closely behind, claiming the third position among the Vietnamese companies on the list. Ranked 1,329th in the world, VietinBank showcases noteworthy revenue, profit, assets, and market capitalisation figures of $5.45 billion, $722.3 million, $76.71 billion, and $5.71 billion respectively.
Techcombank, or Vietnam Technological and Commercial Joint-Stock Bank, positions itself as the fourth highest-ranking Vietnamese company on the Forbes Global 2,000 list, strongly positioned at 1,532nd globally. Techcombank reports revenue, profit, assets, and market capitalisation of $2.38 billion, $860.6 million, $29.65 billion, and $4.31 billion.
Rounding out Vietnam's representation is Military Commercial Joint-Stock Bank (MBBank), with a global ranking of 1,605th. MBBank reports revenue, profit, assets, and market capitalisation figures of $3.02 billion, $746.8 million, $30.9 billion, and $3.5 billion respectively.
Forbes' Global 2,000 list for 2023 stands as a testament to Vietnam's burgeoning influence in the international financial realm. The dominance of Vietnam's banking sector on this list underscores the nation's increasing prominence and its contribution to the global economy. These banking powerhouses, with their robust growth and notable rankings, bolster Vietnam's economic trajectory on a global scale.
Highlighting the dominance of the banking industry, JPMorgan Chase, a renowned American investment bank, reigns as the largest company in the world for 2023, according to Forbes. Boasting a market capitalisation of a staggering $399.59 billion, JPMorgan Chase sets an unprecedented benchmark.
Beyond JPMorgan Chase, the top 10 largest companies globally for 2023 include three more banking institutions from China – ICBC, China Construction Bank, and Agricultural Bank of China. Additionally, Bank of America represents the United States in this esteemed ranking.
The top 10 list also welcomes other globally recognised corporations. Alphabet, the parent company of Google, ExxonMobil, a leading petroleum giant, and tech titans Microsoft and Apple, all secure their positions among the elite.
