The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) found a place among the 1,000 largest companies in Forbes’ recent “The World’s Largest Public Companies 2020” report, released in its Global 2000 annual rankings.

The bank, the only concern from Vietnam to be ranked among the largest 1,000, was listed 937th, up 159 places from 2019. Its ranking in 2015 was 1,985.

Vietcombank posted strong profit growth last year, with profit before tax reaching VND23.16 trillion (US$994 million), up 24% year-on-year and surpassing the targeted 12%. The result put it among the top 200 banking institutions in the world in terms of profit.

Vietcombank is currently the only Vietnamese bank to possess total assets of US$50 billion and is the most valuable company on the country’s stock market.

Vietnam has three other representatives on Forbes’s top 2,000 largest companies: the Bank for Investment and Development of Vietnam (BIDV), Vingroup, and Vietinbank.

Forbes’s Global 2000 ranks the 2,000 largest publicly-listed companies worldwide. Ratings are based on scores for revenue, profit, assets, and market capitalisation.