HSBC tops Forbes 2000 list of world's largest companies

HSBC has jumped two places to top the latest Forbes 2000 list of the world's largest companies, the first time a non-US company has led the rankings since its launch in 2004. The annual index surveyed blue-chip firms in 26 industries across 60 countries and ranked them according to a composite of sales, profits, assets and market value.

HSBC is one of five high performers from the banking industry, having delivered 26 per cent annual average growth in revenue and 31 per cent in net income over the past five years.

In total, Forbes 2000 companies now account for US$30 trillion in revenues, US$2.4 trillion in profits, US$119 trillion in assets and US$39 trillion in market value.

The largest non banking sector company featured this year is General Electric which placed second. Bank of America placed third while last year's leading company, Citigroup, placed 24th.