The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has entered Vietnam’s 50 best listed companies in 2019 by Forbes Magazine for the seven consecutive years.
Honoured companies this year were rated on the basis of compound annual growth, profit, return on equity, earnings per share growth between 2013 and 2018, branding, quality of corporate management, source of profit, and the prospect of sustainable development.
This year’s list includes leading companies on the HCM Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX) such as dairy firm Vietnamilk, beer maker Sabeco, IT giant FPT Corp, DHG Pharmaceutical, insurance-finance group Bao Viet, digital retailer Mobile World and realty developer Vingroup.
The Ho Chi Minh Stock Exchange (HOSE) dominated the list as it is home to 45 of the 50 listings, leaving the Hanoi Stock Exchange (HNX) with five. There were 13 changes to the list from last year with 11 firms making their first appearance and two companies coming back on to the list.
According to Forbes, the companies have recorded a combined total post-tax profit of nearly 127.53 trillion VND (5.6 billion USD), a year-on-year increase of 19.2 percent. The total capitalisation of the enterprises reached 94 billion USD, accounting for 63 percent of the total market capitalisation on the two bourses as of mid-May.
For three consecutive years, Vinamilk led the market in terms of profitability, but this time Vietcombank surpassed the dairy giant, becoming the champion in after-tax profit with the growth rate of 60 percent.