September 03, 2009

National Australia Bank and Commonwealth Bank are considered to be among the safest banks in the world, but the lenders have yet to crack the top ten in the latest assessment of risk in the global banking industry.The list of the safest banks, by US-based Global Finance magazine, shows the big four Australian banks have leapt over struggling rivals to make it into the ranks of the top 20 safest banks in the world.

Among the biggest losers on the latest list is UK giant Lloyds, previously in the top 10 but now out of even the top 50 after its acquisition of HBOS and subsequent government bailout. Others to disappear from the top 10 are Swiss-based UBS and UK's Barclays Bank.Global Finance found the banks that kept "an iron grip on their risk exposure" before the onset of the financial crisis have been able hold on to their rankings.