On May 26, 2016, the magazine Forbes released the 2016 Forbes Global 2000, a snapshot of the world's largest companies. Industrial Bank (IB) improved its ranking this year to 59th up by 14 places compared with last year, ranking 13th among the Chinese mainland enterprises in the list. This marks the fourth consecutive week for a double-digit rise, up 184 places from 2013.
As an annual list of “the top 2,000 public companies in the world” by Forbes magazine, the Forbes "Global 2000" is considered one of the world’s most authoritative and eye-catching lists for commercial enterprises. The ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value. According to the 2016 list, IB’s revenue hit $45 billion, the profits $8 billion, the assets $832 billion, and the market value $47.3 billion. <0}
Affected by slowdown of economic growth engine, the number of listed companies in China reached 172, dropped by 25.86% over the previous year. The 172 Chinese companies had a combined market valuation of $4 trillion, down 33% from last year. The list showed that banks remain major representatives in the Global 2000 for six out of the top 10 according to business structure. In terms of geographical distribution, the top 10 places were divided half-and-half by American and Chinese companies. The top 100 follows with 15 Chinese enterprises. 20 Chinese commercial banks hit the list.
Since 2015, confronted with economic transformation in China, IB has kept promoting reform and transformation in depth, taken the initiative to adjust business strategies in a flexible manner, and grasped market opportunities in an effective way so that it has maintained steady and sound development in all businesses, including integrated finance, green finance, wholesale finance, industrial and commercial finance, retail finance, asset management finance and so on. Moreover, IB has further consolidated its business structure of “greater investment banking, greater wealth and greater assets management”, and has witnessed its achievement in “light capital, light assets, and high efficiency” transformation. By the end of 2015, total assets of IB hit RMB 5.29 trillion, up by 20.25% over the beginning of the year, the revenue RMB 154.348 billion, up 23.58% YoY, and the net profits RMB 50.207 billion, up 6.51% YoY. The return on total assets (ROTA) and Rate of Return on Common Stockholders' Equity (ROE) were 1.04% and 18.89% respectively, maintaining its excellent level in China.
Nowadays, the bank has grown into a comprehensive financial service group with multiple financial licenses including banking, trust, lease, fund, consumer finance, futures, assets management and so on, further improving its integrated business layout.Meanwhile, it has been actively pushing ahead with the “going global” strategy. IB Hong Kong Branch, its first overseas branch office, has been opened for two years. In addition, it has set about establishing IB International Holdings Limited, a non-bank subsidiary in Hong Kong. This further indicates that IB has accelerated the deployment of overseas strategy and improved its capacity for mastering cross-border financial service.