April 10, 2008 (LBO) – Hongkong and Shanghai Banking Corporation (HSBC) has jumped two places to top the latest Forbes 2000 list of the world’s top public companies, the bank said Thursday. This is the first time a non-US company has led the rankings since its launch in 2004, it said in a statement.
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,” the statement said.
In total, Forbes 2000 companies now account for 30 trillion US dollars in revenues, 2.4 trillion dollars in profits, 119 trillion dollars in assets and 39 trillion dollars in market value.
Around the world, these companies employ over 72 million people.
The U.S. still dominates the Forbes list but its influence is on the decline with 61 fewer entries than last year.
In contrast, China, India and Brazil are rapidly adding companies to the list.
The largest non-banking sector company featured thi