HSBC tops Forbes 2000 list of the world’s largest companies
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HSBC Group has jumped two places to top the latest Forbes 2000 list of the world’s largest companies. This is the first time a non-US company has led the rankings since its launch.
HSBC Malta CEO, Shaun Wallis said: “This award reflects that, through its focussed strategy, HSBC continues to deliver optimal results despite the highly challenging market landscape both at world and local levels.”
The annual index surveyed blue-chip firms in 26 industries across 60 countries and ranked them according to a composite of sales, profits, assets and market value. HSBC is one of five high performers from the banking industry, having delivered 26 per cent annual average growth in revenue and 31 per cent in net income over the past five years.
In total, Forbes 2000 companies now account for US$30 trillion in revenues, US$2.4 trillion in profits, US$119 trillion in assets and US$39 trillion in market value. Around the world, these companies employ over 72 million people.
General Electric placed second while Bank of America placed third. Last year’s leading company, Citigroup, placed 24th in this year’s list.
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