Chinese banks dominate top spots on world's biggest public firms
PUBLISHED ONJune 20, 2016 6:15 PM
Chinese banks dominate the top three spots of the world's 10 largest public companies, according to the latest list compiled by Forbes.
Industrial and Commercial Bank of China (ICBC), China Construction Bank and Agricultural Bank of China lead the ranking, with their market caps reaching $198 billion, $162.8 billion and $152.7 billion respectively. Bank of China ranks as the sixth largest public company.
The top 10 list also includes five US firms and Japan's Toyota Motor.
This year's Forbes Global 2000 companies have a combined $35 trillion (S$47 trillion) in revenue, $2.4 trillion in profits, $162 trillion in assets and $44 trillion in market value.
The rankings are based on a composite score that measures sales, profits, assets and market value.
Here are top 10 largest public companies in the world in 2016 according to Forbes.
10. Toyota Motor
Country: Japan
Headquarters: Toyota
Industry: Auto & truck manufacturers
Founded in: 1937
Market cap (as of May 2016): $177 billion
Sales: $235.83 billion
9. ExxonMobil
Country: US
Headquarters: Irving, Texas
Industry: Oil & gas operations
Founded in: 1859
Market cap (as of May 2016): $363.3 billion
Sales: $236.81 billion
8. Apple
Country: US
Headquarters: Cuppertino
Industry: Computer Hardware
Founded in: 1976
Market cap (as of May 2016): $586 billion
Sales: $233.27 billion
7. Wells Fargo
Country: US
Headquarters: San Francisco, California
Industry: Banking
Founded in: 1852
Market cap (as of May 2016): $256 billion
Sales: $91.43 billion
6. Bank of China
Country: China
Headquarters: Beijing
Industry: Banking
Founded in: 1912
Market cap (as of May 2016): $143 billion
Sales: $122.03 billion
5. JPMorgan Chase
Country: US
Headquarters: New York
Industry: Banking
Founded in: 1799
Market cap (as of May 2016): $234.2 billion
Sales: $99.88 billion
4. Berkshire Hathaway
Country: US
Headquarters: Omaha, Nebraska
Industry: Investment Services
Founded in: 1955
Market cap (as of May 2016): $360.1 billion
Sales: $210.82 billion
3. Agricultural Bank of China
Country: China
Headquarters: Beijing
Industry: Banking
Founded in: 1951
Market cap (as of May 2016): $152.7 billion
Sales: $131.89 billion
2. China Construction Bank
Country: China
Headquarters: Beijing
Industry: Banking
Founded in: 1954
Market cap (as of May 2016): $162.8 billion
Sales: $146.82 billion
1. ICBC
Country: China
Headquarters: Beijing
Industry: Banking
Founded in:1984
Market cap (as of May 2016): $198 billion
Sales: $171.08 billion