HSBC Group has jumped two places to top the latest Forbes 2000 list of the world's largest companies.
This is the first time a non-US company has led the rankings since its launch, the group said.
HSBC Malta CEO, Shaun Wallis said: "This award reflects that, through its focused strategy, HSBC continues to deliver optimal results despite the highly challenging market landscape both at world and local levels".
The annual index surveyed blue-chip firms in 26 industries across 60 countries and ranked them according to a composite of sales, profits, assets and market value. HSBC is one of five high performers from the banking industry, having delivered 26 per cent annual average growth in revenue and 31 per cent in net income over the past five years.
In total, Forbes 2000 companies now account for $30 trillion in revenues, $2.4 trillion in profits, $119 trillion in assets and $39 trillion in market value. These companies employ over 72 million people around the world.
General Electric placed second and Bank of America third.
Last year's leading company, Citigroup, placed 24th in this year's list.