AA for effort



Australia's big four are likely to remain among the strongest banks in the world based on asset quality and key earnings metrics, according to Sharad Jain, the Melbourne-based director of financial services ratings at Standard & Poor's (S&P). The rating agency reaffirmed its AA ratings for them on July 1, meaning Australia & New Zealand Banking Group, Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac Banking Corp now account for half of the eight banks worldwide tha