1. Industrial and Commercial Bank of China (ICBC)
Country: China
2022 Global 2000 rank: 2
Total assets: $5.5 trillion
China’s presence on Forbes Global 2000 was led by ICBC, the world’s biggest bank, which for the first time lost the top spot in the overall ranking after nine straight years of being number one. ICBC is largely controlled by the Chinese government through state-owned investment vehicle Central Huijin Investment Ltd. and China’s Ministry of Finance, which held 34.7% and 31.1% of shares, respectively, as of Q1 2022. The bank’s net profit surged 5.6% to $13.5 billion in the same period. ICBC shares plunged 9.3% this year as of July 15, when shares fell to $0.51.
2. JPMorgan Chase
Country: U.S.
2022 Global 2000 rank: 4
Total assets: $4 trillion
This story is from the August 2022 edition of Forbes Middle East - English.
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This story is from the August 2022 edition of Forbes Middle East - English.
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