Earlier, Fortune (US) released its latest 2011 ranking of the world's 500 largest corporations. ICBC ranked as the 77th largest company with annual revenues of USD 80.501 billion, up from 87th place last year.
For the thirteenth consecutive year since 1999, ICBC has been included in this authoritative Fortune's global list of world's 500 largest companies. As business strength improved significantly, ICBC moved up the ranking every year especially after the shareholding restructuring in 2005. From 2005 to 2011 ICBC was respectively at the 229th, 199th, 170th, 133rd, 92nd, 87th and 77th.
The Fortune published its first listing of Global 500 in 1954. Since then the widely-followed list has become a wind vane for the changes in global economy. This year, China has 69 companies listed among the Fortune Global 500, surpassing Japan, second to the United States. ICBC was the fourth largest among the Chinese companies in the list. The 2011 list also featured five Chinese banks, ICBC (77), China Construction Bank (108) ,Agriculture Bank of China (127), Bank of China (132) and Bank of Communications (397).
According to the latest Fortune Global 500 by profitability, ICBC ranked No. 4 by registering a net profit of USD 24.398 billion, trailing Nestle, Gazprom and Exxon Mobil, ahead of all Chinese companies and global financial institutions in the list.
