And the best banks are...

June 3, 2009 | By Jim Kim

Banking industry awards, as of late, have taken on an unwittingly humorous dimension. Bank of America CEO Ken Lewis was named banker of the year last year, just as his bank was starting to tank. Angel Mozilo, of Countrywide infamy, was honored with a lifetime achievement award as the ship started to tip. Says the Economist: "Trying to work out which banks are the world's best is a bit like awarding the prize for prettiest war-torn village."

But the conventional wisdom is that big banks are segregating themselves a bit. The winners globally, according to the magazine, include JPMorgan, Goldman Sachs, Credit Suisse, BNP Paribas of France and Banco Santander of Spain, based on stock prices anyway. Barclays also made the list. But the two that have survived in the best form are JPMorgan and Credit Suisse, the winners of the "grand prize." These days they may want to downplay such "honors."

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