Global markets were gripped by anxiety when Donald Trump returned to the White House last year. However, a year later, despite the game-changing policies of the U.S. President, much of the Asia-Pacific region seems to have shielded itself from the shocks, with businesses and economies altering tactics to rely less on the U.S.
Banking and financial services once again dominate the latest statistical ranking of 500 of the region’s best companies conducted by TIME and , which evaluates firms using three key metrics: employee satisfaction, revenue growth, and environmental, social, and governance (ESG) evaluations. Although 2025 started turbulently with Trump’s tariff war, the Asia-Pacific region stabilized towards the end of the year, says Daniel Kritenbrink, formerly U.S. Assistant Secretary of State for East Asian and Pacific Affairs and now partner at The Asia Group. “Compared to earlier in 2025, most businesses face a slightly clearer, more stable, and more certain business environment that they can plan around,” he says.
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Among the top 10 of this group, five are from the banking sector, with Singapore’s DBS Bank retaining the top spot from last year, followed by Australia’s Commonwealth Bank. Both firms reported profitability—despite the volatile macroeconomic environment—and extensive adoption of AI in their operations. Completing the top 10 is the Philippines’ Bank of the Philippine Islands, the country’s best-performing company on the list.
The financial sector has a promising outlook for 2026, says Taimur Baig, chief economist and managing director at DBS Bank, indicated by initial public offerings from Hong Kong and Singapore reviving stagnant regional capital markets and rallying bank stocks. “There’s an expectation that equity capital markets will catch a tailwind,” Baig says. He anticipates that market confidence will increase, enabling companies to take higher risks—including in the artificial intelligence sector—which means more business for banks.
The automotive industry, a victim of Trump’s aggressive tariffs, survived through persistent EV demand. Toyota—which maintained its world’s top-selling automaker status this year due to strong U.S. sales of hybrid vehicles—ranked third in the list, followed by Hyundai (no. 8) and Honda (no. 12). Chinese companies Xiaomi (no. 23), BYD (no. 43), and Geely (no. 60)—also known for their EV offerings—similarly made the cut. Xiaomi is China’s best-performing business this year, as the second-largest economy faces ongoing domestic struggles in automotive sales, and its overproduction is spilling over into other nations.
The insurance, healthcare, and social services sector also performed well and are projected to continue expanding, with the Asia-Pacific region expected to boost global life insurance premium volumes. The list includes Australia’s QBE Insurance Group (no. 7), AIA Group in Hong Kong (no. 15), and SBI Life Insurance from India (no.19).
Region-specific growths are also evident: among the top 10 companies, four are from Australia, whose sluggish economy slightly recovered in 2025. Alicia García-Herrero, chief economist for Asia-Pacific at French financial services firm Natixis, says that Australia “delivered consistency rather than spectacular results” with its strong financials and its key mining industry. She also points to certain strengths in the pharmaceutical, medical technology, and consumer goods sectors; Australia’s largest retailer of consumer goods, Woolworths, ranks sixth in the list.
Looking at the bigger picture, however, Indian firms make up the largest portion, occupying 179 spots in the list. But García-Herrero notes that India shining as a “bright spot” in the market doesn’t necessarily mean outstanding performance. The country experienced periods of high volatility, with amid a weak rupee and tariffs, although India still managed to upward due to robust domestic consumption.
India is expected to overtake Japan in the race for the world’s fourth-largest economy title, but the two nations their economic partnership last year, focusing on the semiconductor, clean energy, critical minerals, and information and communications technology sectors. Three Japanese companies on the list—Sumitomo Mitsui Financial Group (no. 4), Mizuho Financial Group (no. 17), and MUFG (no.
