News Column

ICBC Defends Top of Banking Industry on Fortune Global 500 List

July 28, 2014



ENP Newswire - 28 July 2014

Release date- 25072014 - The US-based Fortune magazine issued the Fortune Global 500 enterprises list for 2014 on the night of July 7.

With the gross revenue at USD 148.803 billion in 2013, ICBC ranked the 25th in the list of Fortune Global 500, up from last year's 29th position, which was the best score of the Bank in the list. Meanwhile, the Bank continued to rank the top in the sub-list of commercial banks.

According to the Fortune's ranking result measured by gross revenue in 2013, Wal-Mart Stores regained the first place with gross revenue at USD 476.294 billion, while Royal Dutch Shell ranked the second with gross revenue at USD 459.599 billion. Sinopec Group ranked the third with gross revenue at USD 457.201 billion, posting the best record of Chinese enterprises in the Fortune Global 500 list. China National Petroleum, Exxon Mobil, British Petroleum, State Grid Corporation of China, Volkswagen, Toyota Motor, Glencore International ranked from the fourth to tenth.

By earnings, ICBC ranked the fourth with a net profit of USD 42.718 billion, while the top three were Vodafone Group, Fannie Mae and Freddie Mac. The Bank's ranking was unchanged from last year. Vodafone Group saw profits jump by 13,794.0% to USD 94.132 billion. Due to the recovery of the US real estate market, Fannie Mae and Freddie Mac earned profits of USD 83.963 billion and USD 48.658 billion, respectively, becoming the Fortune Global 500 enterprises with the highest profits in the US this year.

Schedule 1: Top ten Fortune Global 500 enterprises by gross revenue and some selected Chinese Mainland enterprises

Ranking in 2014

Ranking in 2013

Enterprise

Country

Total operating income (in USD millions)

1

2

Wal-Mart Stores

US

476,294

2

1

Royal Dutch Shell

The Netherlands

459,599

3

4

Sinopec Group

China

457,201

4

5

China National Petroleum

China

432,008

5

3

Exxon Mobil

US

407,666

6

6

British Petroleum

UK

396,217

7

7

State Grid Corporation of China

China

333,387

8

9

Volkswagen

Germany

261,539

9

8

Toyota Motor Corporation

Japan

256,455

10

12

Glencore International

Switzerland

232,694

25

29

Industrial and Commercial Bank of China

China

148,803

38

50

China Construction Bank

China

125,398

47

64

Agricultural Bank of China

China

115,392

52

80

China State Construction Engineering Corporation

China

110,812

55

71

China Mobile Communications Corporation

China

107,647

59

70

Bank of China

China

105,623

79

93

China National Offshore Oil Corporation

China

95,972

80

100

China Railway Engineering Corporation

China

95,747

85

103

Shanghai Automotive Co., Ltd.

China

92,025

86

102

China Railway Group Limited

China

91,153

98

111

China Life Insurance (Group) Company

China

80,909

Data source: FORTUNEChina.com

Schedule 2: Top ten Fortune Global 500 enterprises by net profit

Ranking in 2014

Ranking in 2013

Enterprise

Country

Net profit (in USD millions)

Changes (%)

1

342

Vodafone Group

UK

94,132

13794.0%

2

15

Fannie Mae

US

83,963

387.6%

3

36

Freddie Mac

US

48,668

343.2%

4

4

Industrial and Commercial Bank of China

China

42,718

13.0%

5

2

Apple Inc.

US

37,037

11.3%

6

3

Gazprom

Russia

35,769

6.1%

7

5

China Construction Bank

China

34,913

14.0%

8

1

Exxon Mobil

US

32,580

27.4%

9

12

Samsung Electronics Corporation

ROK

27,245

32.4%

10

9

Agricultural Bank of China

China

27,050

17.6%

Data source: FORTUNEChina.com.


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Source: ENP Newswire


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