Two Moroccan firms secured places in the list of the World’s Largest Public Companies 2019.
Rabat – Forbes has listed Morocco’s Attijariwafa Bank and the Populaire Bank among the 2000 world’s largest public companies in its 17th annual ranking issued on May 15.
Forbes ranked Attijariwafa Bank at the 1143 position with $41.1 billion of sales, $608 million of profits, and $ 8.7 billion of profits.
Morocco’s Banque Centrale Populaire was ranked 1855 with $2.4 billion of sales, $313 million of profits, and $5 billion of market value.
Forbes said that the firms on this year’s ranking account for “more than $40 trillion in revenue this year and more than $186 trillion in global assets.”
The company makes its ranking based on a “composite score from equally-weighted measures of the revenue, profits, assets and market value, and the results reveal the major trends shaping the global economy this year.”
China topped the list with its Industrial and Commercial Bank, for the seventh year in a row.
Forbes said that the Industrial and Commercial Bank of China “oversees more than $4 trillion in assets and employs nearly half a million people. “
“The financial sector overall had a good year, too: The rest of China’s “Big Four” banks all made the top ten, and JPMorgan Chase climbed up to the second spot due to rising profits thanks in part to major tax cuts,” according to Forbes.
