(Photo for illustration: Forbes Vietnam)

The rankings are based on last year’s audited consolidated financial reports of the companies listed on the Ho Chi Minh Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX).

Forbes Vietnam said total after-tax profit of the 50 firms stands at over 228 trillion VND (9.7 billion USD) while their combined revenue 1.49 quadrillion VND, respectively rising 18% and 24.9% from the 2022 list.

The Vietnam National Petroleum Group (Petrolimex) remains the biggest revenue earner with more than 304 trillion VND. Meanwhile, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) recorded the most after-tax profit, almost 29.9 trillion VND.

The top 50 listed companies are divided into sectors, and most are leading firms or those already gaining a foothold in their sectors.

The rankings are dominated by businesses in the financial (banking, securities, insurance), essential consumer goods, and logistics industries. In contrast, representatives of the real estate and material sectors halve.

There aren’t many new names in this year’s list compared to previous years, according to Forbes Vietnam.

In 2022, profits of listed companies in general and those in the top 50 list hit a record level. However, during the list compilation process, the magazine also saw that businesses are now facing the most trying times in about 10 years.

Source: VNA