HSBC has come first in the annual Forbes 2000, a ranking of the world’s 2000 largest companies. It’s the first time a non-US company has led the rankings since the list was launched in 2004.Since the start of the list, HSBC has crept up the rankings. It was ninth in 2004, then fifth, third and now first. 60 countries are represented on the list, accounting 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, 72 million people are employed by companies on the list.
The companies are ranked according to four key classes: sales, profits, assets and market value. Each class is given a score; the total sets the ranking. HSBC is one of five high performers in the banking industry, having delivered 26% annual growth in revenue and 31% in net income over the past five years. The Group has come out of the subprime crisis relatively unscathed, says Forbes, and its capital ratios remain strong. Shares have only fallen slightly compared to its rivals and earnings and profits are up.
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