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Saturday 20

October, 2018 1:19 PM



Banks remain world's strongest companies

Banks remain world's strongest companies

Commonwealth Bank is, unsurprisingly, the highest-ranked company on Forbes's list of the world's most power operations but Chinese banks top the list.

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By AAP 07.06.2018 03:55 PM

Two Chinese banks are again at the top of a list of the world's 2,000 most powerful companies, while Australia's top entrant is also a bank.

Commonwealth Bank, with a market capitalisation of $122 billion ($US93.5b), ranks 71st in the Forbes Global 2000 list, a ranking of the biggest, most powerful and most valuable companies in the world.

Westpac, at 87th and worth $94.2 billion ($US76.2b), is the only other Australian company to make the top 100.

But state-owned Industrial and Commercial Bank of China, valued at $US311 billion and controlling assets worth $US4.2 trillion, has topped the list for the sixth year in a row.

China Construction Bank remains in second place, with a value of $US261.2 billion and assets under control totalling $US3.6 trillion.

Forbes gives even weighting to sales, profits, assets and market value to decide rankings on the list.

Australia's ANZ Bank ranks 104th on the list, with BHP Billiton the next Down Under entry at 108th and National Australia Bank in 125th place.

Tech giant Apple placed eighth on the list and Alphabet, the parent company of Google, ranked 23rd.

The full list of companies is available at www.forbes.com/global2000

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