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AA for effort

National Australia Bank has successfully defended its AA-credit rating throughout the financial crisis. But chief risk officer Bruce Munro believes continued improvements to the bank's risk culture will be needed. Joe Marsh reports

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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

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