Australian big four banks make Top 20 List

Monday September 14, 2009

Australian banks have been listed within the top 20 safest banks in the world to bank with, according to US-based Global Finance magazine. Out of the big four banks the highest was National Australia Bank at number 11 with the Commonwealth Bank at number 12 in the world.ANZ bank is at number 15 with Westpac at number 16.

All four banks have recorded increases since the last top 50 list released in 2007, some climbing as much as 13 spots on the rankings. The magazine compared long-term credit ratings and total assets of the 500 largest banks worldwide to determine its results.

Global Finance magazine stated that the banks that managed to keep "an iron grip on their risk exposure" before the Global Financial Crisis took effect, held their rankings far better than those that did not.

"At the same time, the big name banks that lost their safest bank ranking during the credit crunch are still absent from the list as they struggle to rebuild their credit standing," the magazine said.

The highest-ranked foreign subsidiary bank operating in Australia is Rabobank, which comes in at number 6.

Global Finance magazine's Top 20 safest banks:

1. KfW
(Germany)

2. Caisse des Depots et Consignations (CDC)
(France)

3. Bank Nederlands Gemeenten (BNG)
(Netherlands)

4. Landwirtschaftliche Rentenbank
(Germany)

5. Zuercher Kantonalbank
(Switzerland)

6. Rabobank Group
(Netherlands)

7. Landeskreditbank Baden-Wuerttemberg-Foerderbank
(Germany)

8. NRW. Bank
(Germany)

9. BNP Paribas
(France)

10. Royal Bank of Canada
(Canada)

11. National Australia Bank
(Australia)

12. Commonwealth Bank of Australia
(Australia)

13. Banco Santander
(Spain)

14. Toronto-Dominion Bank
(Canada)

15. Australia & New Zealand Banking Group
(Australia)

16. Westpac Banking Corporation
(Australia)

17. ASB Bank Limited
(New Zealand)

18. HSBC Holdings plc
(United Kingdom)

19. Credit Agricole S.A.
(France)

20. Banco Bilbao Vizcaya Argentaria (BBVA)
(Spain)

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